The first generation of fish in Placentia Bay in Newfoundland has been farmed
with good fish health and welfare. Grieg Seafood will continue to develop its
farming region in Newfoundland gradually and responsibly.

Last week, the first fish were harvested and then packed at Quinlan Brothers
Ltd.'s processing plant in Bay de Verde in Newfoundland before they were
transported to customers in the North American market.

"Harvesting the first generation of fish in Newfoundland marks an important
milestone for Grieg Seafood. I am pleased to see that the fish has good welfare
and that biological control has been strong," says Andreas Kvame, CEO of Grieg
Seafood ASA.

"This first, successful generation shows what enormous potential Placentia Bay
in Newfoundland holds for sustainable salmon farming. This is especially true in
light of the booming North American market just next door, where consumers are
increasingly asking for local, healthy and climate friendly food. We will
continue to develop our production in Newfoundland gradually and responsibly
during the years to come. I want to congratulate all of my hard-working
colleagues in Newfoundland with this achievement," Kvame continues.

In the Spring and Summer of 2023, Grieg Seafood transferred the next generation
of fish into three new ocean farms. The second generation will be harvested in
2024.

Fish from the farm Red Island are currently being harvested. The first
generation spent about a year in Grieg Seafood's freshwater and smolt facility
in Marystown and was transferred to two ocean farms in Placentia Bay in 2022.

The first generation of fish has grown well throughout the year. Deep pens, no
need for treatments of any form as well as transfer of best practices from
similar conditions in other Grieg Seafood regions have contributed to good fish
health and welfare throughout the production cycle. The first generation has a
survival rate of 92 percent. The annual survival rate of all of the fish in the
ocean farms is currently 96 percent.

The fish has been farmed with no sea lice issues.

The fish farmed in Newfoundland will be transported to the growing North
American market without the need of air freight, making it a local alternative
with low carbon emissions.

"Since 2014, we have been working towards this day, when we are finally able to
send salmon grown in Placentia Bay to our customers and consumers. I am pleased
with the biological performance of the first generation, including the survival
rate as well as strong sea lice control," says Knut Skeidsvoll, Managing
Director of Grieg Seafood Newfoundland.

"I want to thank all of my colleagues in Newfoundland for their hard work during
these years, as well as the local communities of Placentia Bay and the Province
of Newfoundland & Labrador for their support. We will keep developing our
Newfoundland region step by step, and create jobs and value for the communities
where we operate for years to come," Skeidsvoll says.

About Grieg Seafood Newfoundland

  * Grieg Seafood Newfoundland currently has an on-land RAS facility consisting
    of a hatchery, a nursery and a smolt unit in Marystown, as well as five
    marine farms in Placentia Bay. 14 licenses are currently approved.
  * Grieg Seafood aims to harvest 5000 tonnes of salmon in Newfoundland in 2023.
  * Grieg Seafood is developing the project based on existing best-practice
    farming technologies.
  * The company is still in an early phase and will expand the project gradually
    and responsibly, in line with biological developments.
  * The aquaculture project in Placentia Bay started in 2014.

Contact information

Kristina Furnes
Chief Communications Officer
Grieg Seafood ASA
Phone: 0047 48185505
Email: kristina.furnes@griegseafood.com
(mailto:kristina.furnes@griegseafood.com)