AKVA group ASA: Potential new land based project

AKVA group Land Based A/S, a wholly owned subsidiary of AKVA group ASA (ʺAKVAʺ), has signed an engineering and design contract with the Norwegian company Ecofisk AS (ʺEcofiskʺ). Ecofisk plan for a new land based grow-out facility of 5,000 tonnes at Espevik, Norway, and holds a license for producing up to 40,000 tonnes.

AKVA is chosen as the preferred supplier and the final delivery contract for the initial 5,000 tonnes, if awarded, has a value of approx. EUR 45 million.

AKVA will participate up to NOK 30 million in equity in the project if sufficient further financing is achieved and has so far provided NOK 5,500,000 in equity financing.

AKVA's further equity participation in the project is subject to Ecofisk obtaining the necessary financing for the project and agreement on a final delivery contract.

Dated: 5 November 2020
AKVA group ASA

Web: www.akvagroup.com

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This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act