AFISH: Trading of Arctic Fish Holding AS shares start today

Arctic Fish Holding AS will start trading on Euronext Growth Oslo today after
the successful private placement of NOK 600m announced on February 15th.  The
ticker will be AFISH. 
 
Growth capital secured

The primary part of the placement was NOK 350m, which will be used to fund
growth initiatives along the company's value chain. Arctic Fish targets a growth
from 7,400 tons in 2020 to 24,000 tons in 2025. Operations are improving
continuously, and the company expect to see "scale effects" when production
increase further.  
 
CEO Stein Ove Tveiten says, «We are very pleased with the improvements we have
seen, with production costs in the sea farming already at Norwegian levels or
lower, and we are looking forward to further improvements and to create a
sustainable, significant and profitable operation here in the Westfjords."
 
Local ownership increased, and NRS show strong support

Icelandic pension funds and Icelandic private investors participated in the
private placement and the Icelandic ownership has gone from 2,5% to around 10%
after the transaction.  NRS contributed with NOK 200m and increased its
ownership from 50% to 51.3%. 
 
DNB Markets and Pareto Securities acted as joint global coordinators in the
private placement, and Icelandic Arion Banki as Co-Manager. 
 
For further comments please contact

CEO: Stein Ove Tveiten, sot@afish.is, +354 84 39900
CFO: Neil Shiran Þórisson, nst@afish.is, + 354 83 15300
 
About Arctic Fish:
 
Arctic Fish is a producer of superior quality salmon from Iceland. The aim is to
continue to invest and build up profitable and sustainable operations, where the
farming is in harmony with the environment and society, which includes our
neighboring communities. Arctic Fish believes that a key component of the
success lies in our people and the environment.
Our 70 dedicated employees are expected to harvest 12000 tons of salmon in 2021.
The headquarter is in Isafjordur in the Westfjords of Iceland.