AFISH: License Update for Arctic Sea Farm regarding Arnarfjordur

Reference is made to the applications of salmon licenses for up to 4,000 tonnes
maximum allowed biomass (MAB) in Arnarfjordur in the Westfjords of Iceland, as
disclosed in the Company's information document from 19th of February 2020.

Today, MAST (Iceland Food and Veterinary Authority) and Umhverfisstofnun (The
Environment Agency of Iceland) have both advertised their proposal of new
farming licences for Arctic Sea Farm a 100% owned subsidiary of Arctic Fish
Holding AS, for 4,000 tonnes (MAB) in Arnarfjordur. This is a new license in a
fjord and at a site that Arctic Sea Farm has not operated before. 

This advertisement of the licence is the last step in the application process.
Now stakeholders have until November 9th 2021 to comment on the licence and
after that it should be issued. When the licence has been issued the company
will hold, 27,100 tonnes (MAB) of licences