Frøya, 20 June 2023
Reference is made to the announcement on 5 June 2023 regarding the agreement (the “Transaction Agreement”) entered into by Falcon Bidco AS (the “Offeror”), a
company indirectly wholly owned by infrastructure funds managed by Goldman Sachs Asset Management, with NTS AS (“NTS”), a wholly owned subsidiary of SalMar ASA
(“SalMar”) (OSE ticker: SALM), and Frøy ASA (“Frey” or the “Company”) (OSE ticker: FROY), whereby the Offeror, on certain terms and conditions,
agreed to acquire NTS’ entire ownership stake in Frøy, representing approximately 72.11% of the shares in Frøy (the “Share Sale”), and following completion of the Share Sale make
an unconditional mandatory cash offer to acquire all other shares in Frøy (the “Mandatory Offer”, and together with the Share Sale, the “Transaction”).
As announced, completion of the Share Sale is subject only to: