26.6.2024 07:30:01 CEST | Nekkar ASA | Non-regulatory press releases

26 June 2024 - The FiiZK group, whose largest shareholders are Nekkar ASA and
Bewi Invest, has entered into an agreement to sell FiiZK Digital AS to seafood
investor Bluefront.

The sale is part of a streamlining of FiiZK, which will now focus on
unconventional farming methods including closed and semi-closed cages for fish
farming.

Through a joint investment in August last year, Bewi Invest (41%) and Nekkar
(39%) became the largest shareholders in seafood industry supplier FiiZK. Since
then, the owners have completed a successful restructuring of the FiiZK group
and initiated a strategy process that has resulted in a plan for a more focused
FiiZK.

"FiiZK wants to maintain our leading position in what we do, which means that we
have to focus both our efforts and our resources, says Jan Erik Kvingedal,
managing director of FiiZK.

Closed and semi-closed cages

In the future, FiiZK will focus on the sale of closed and semi-closed fish
cages, with associated software, maintenance and services. To date, FiiZK has
delivered more than 20 cages and completed more than 70 production cycles,
demonstrating strong fish growth and no problems with lice and escapes. A key
part of this effort is FiiZK's new closed cage called "Protectus", which is
based on the best solutions from the company's three previous models, "Certus",
"Ecomerden" and "Starfish". In addition, the company has recently launched
"FiiZK FlekZii Cage», which is a semi-closed cage solution that reduces lice
infestation.

FiiZK maintains its portfolio of technical textiles, such as lice skirts and
treatment tarps, segments in which the company has a market leading position in
Norway.

Moreover, FiiZK has access to Nekkar's expertise within engineering,
electrification, automation and digitization to further develop cage system
technologies for the aquaculture industry.

Divestment of FiiZK Digital

As part of the streamlining of FiiZK, the opportunity arose to sell FiiZK
Digital AS to seafood investor Bluefront, which has acquired several specialized
software companies in the seafood value chain in recent years.

FiiZK Digital provides digital solutions that enable fish farmers to conduct
strategic production planning through optimising both biological and financial
conditions. This solution has no direct link to FiiZK's focus on closed or
semi-closed cages.

"This transaction is therefore a good fit for FiiZK, Bluefront and the FiiZK
Digital team," says Ole Falk Hansen, chairman of FiiZK and CEO of Nekkar ASA.

The transaction

Bluefront's second fund, Bluefront Capital II, is acquiring 100 percent of the
shares in FiiZK Digital from FiiZK Topco AS, the holding company of the FiiZK
Group. The parties have agreed not to disclose the financial details of the
transaction.

"The sale of FiiZK Digital strengthens FiiZK's balance sheet and frees up
resources that can be used to develop the company's core business," adds Ole
Falk Hansen.

Upon completion of the transaction, FiiZK Digital will initiate a process to
re-name the company.

(ENDS)

DISCLOSURE REGULATION

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

CONTACTS

 * Ole Falk Hansen, CEO, +47 988 14 184, ir@nekkar.com 

ABOUT NEKKAR ASA

Nekkar (OSE: NKR) is an industrial technology group offering impact technologies
combined with high-end software solutions. The group combines 50 years' heritage
from the world's number one shiplift company, Syncrolift, with new investments
into sustainable, digitalised technology businesses that aim to unlock growth
within ocean-based industries such as offshore energy, renewables and
aquaculture.