NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, INAUSTRALIA ,CANADA ,JAPAN ,HONG KONG ,SOUTH AFRICA ORTHE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. Reference is made to the stock exchange notice fromNorcod AS (the "Company") on29 February 2024 regarding the successful completion of a private placement of 14,166,667 new shares (the "Offer Shares ") in the Company at a subscription price ofNOK 12 per share (the "Offer Price ") raising gross proceeds of approx.NOK 170 million (the "Private Placement") and a potential subsequent offering of new shares at a price equal to the Offer Price (the "Subsequent Offering"). The board of directors have resolved to complete the Private Placement by issuance of the Offer Shares in two tranches as follows: i) one tranche where 1,546,336Offer Shares are issued based on a board authorisation issued by the general meeting to the board of directors on12 June 2023 (Tranche 1); and ii) one tranche where 12,620,331Offer Shares are issued by the general meeting (Tranche 2). The general meeting whereOffer Shares pertaining to Tranche 2 are issued will be held on15 March 2024 , as noted in the stock exchange notice dated1 March 2024 . The share capital increase pertaining to the issuance of the Offer Shares under Tranche 1 has today been registered with theNorwegian Register ofBusiness Enterprises (Nw. Foretaksregisteret). Following this, the Company's registered share capital isNOK 15,487,005.00 divided into 30,974,010 shares, each with a nominal value ofNOK 0.50 . For more information, please contact:Christian Riber , CEO, Norcod AS Tel: +47 905 37 990 E-mail: cr@norcod.no Arne Kristian Hoset CFO, Norcod AS Tel: +47 988 10 282 E-mail: arne.hoset@norcod.no About Norcod:Norcod AS' core business is commercial sea farming of cod but through ownership and partnerships is involved in the entire value chain. Norcod's existing fish farms are located in Mid-Norway with ideal conditions for cod. The company is contributing to blue ocean value creation with minimal impact on the environment while supporting local communities. Norcod is listed onOslo's Euronext Growth market. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and the EU Market Abuse Regulation (MAR).
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