AKVA group ASA

Exercise of option to acquire shares in Sperre AS

Reference is made to the announcement by AKVA group ASA on 28 October 2016 regarding the agreement with Sperre Group AS for the acquisition of 66% of the shares in Sperre AS ("Sperre").

As set out in the announcement, AKVA group and Sperre Group AS agreed on a mutual option to buy/sell the remaining 34% of the shares in Sperre, exercisable in a limited period after the approval of the audited 2019 annual accounts of Sperre. The 2019 annual accounts of Sperre were approved on 20 April 2020. Thus, AKVA group has exercised the option to acquire the remaining 34% of the shares in Sperre for a total consideration of approximately NOK 69.7 million, which is linked to the performance of Sperre in 2017, 2018 and 2019.

For further details on the option, please refer to the announcement by AKVA group on 28 October 2016.

Dated: 27 May 2020
AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

Knut Nesse	Chief Executive Officer
Phone:	[phone]
Mobile:	[phone]
E-mail:	[e-mail]

Andreas Pierre Hatjoullis	Chief Financial Officer
Phone:	[phone]
Mobile:	[phone]
E-mail:	[e-mail]

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