AKVA group ASA

Land Based contract signed

With reference to the stock notice of 20 December 2019 AKVA group ASA (AKVA) hereby announce that its wholly owned subsidiary, AKVA group Land Based Norway AS, has been awarded the contract for the full grow-out RAS project from Nordic Aqua Ningbo Co., Ltd.

Nordic Aqua Partner A/S has now completed their equity financing and the project is scheduled to start up in January 2021.

The value of AKVA’s delivery is estimated to be EUR 50 million for the first phase (4,000 tonnes).

AKVA will participate with up to EUR 3,1 million in equity.

Dated: 20 November 2020

AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

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

Ronny Meinkøhn	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