NORCOD AS: FINAL RESULT OF SUBSEQUENT OFFERING

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR THE 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 from Norcod AS ("Norcod" or the "Company") on 15 June 2026 regarding the start of the subscription period in the subsequent offering (the "Subsequent Offering") of up to 1,000,000 new shares (the “Offer Shares”) at a subscription price of NOK 10 per Offer Share (the "Offer Price").
 
The subscription period for the Subsequent Offering ended on Friday 26 June 2026 at 16:30 CEST. By the end of the subscription period, the Company had received valid subscriptions for 388,170 shares in the Subsequent Offering. The board of the Company has today, pursuant to the authorisation granted by the Company's general meeting held on 27 May 2026, resolved that a total of 388,170 Offer Shares will be allocated at the Offer Price in accordance with the allocation criteria set out in the national prospectus dated 12 June 2026 prepared by the Company in connection with the Subsequent Offering, raising gross proceeds of NOK 3,881,700.
 
Notifications of allocated Offer Shares in the Subsequent Offering and the corresponding amount to be paid by each subscriber will be sent out in a separate letter to each subscriber. Investors that are allocated Offer Shares can access information on the number of Offer Shares allocated through VPS on 29 June 2026. The due date for payment of the Offer Shares is on 2 July 2026.
 
Subject to duly and timely payment of the Offer Shares by the subscribers, the share capital increase pertaining to the Offer Shares is expected to be registered in the Norwegian Register of Business Enterprises on or about 9 July 2026 and will be delivered to the VPS accounts of the subscribers shortly thereafter. The Offer Shares will have equal rights and rank pari passu with the Company's other shares.
 
Advisors:
DNB Carnegie, a part of DNB Bank ASA, is acting as bookrunner for the Subsequent Offering (the "Manager").
 
Advokatfirmaet Haavind AS is acting as legal counsel to Norcod.
 
For more information, please contact:
Christian Riber, CEO Tel: +47 905 37 990, E-mail: cr@norcod.no
Stian Hansen, CFO Tel: +47 481 78 846, E-mail: sh@norcod.no
 
About Norcod:
Norcod's core business is commercial sea farming of cod and is involved in the entire value chain through ownership and partnerships. Norcod's existing fish farms are located in Mid-Norway and along the Helgeland coast 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 on Oslo's Euronext Growth market.