Lerøy Seafood Group

www.leroy.no

Hallvard Lerøy AS

1899: Ole Mikkel Lerøen sells his fish at the local fishmarket in Bergen, Norway.

Head office in Bergen, Norway

#1 seafood exporter from Norway#2 global farmer of Atlantic salmon

History - Since 1899

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#2 global farmer of Atlantic salmon#1 Norwegian farmer of fjord trout

•Full range seafood exporter•Fully integrated salmon/trout farmer•Production in Norway and Scotland

220,000 tons of seafood

Lerøy Seafood Group

• 11.5% share of Norwegian seafood export value

• 16.8% of Norwegian salmon export

• 25.4% of Norwegian value added

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• 25.4% of Norwegian value added salmon export

• Total of 1,883 employees

• Sales and distribution 438

• Production and farming 1,445

• Associates 415 (not consolidated)

”Lerøy in every kitchen”

444

6 000

7 000

8 000

9 000

10 000

Turnover LSG NOK million

555

0

1 000

2 000

3 000

4 000

5 000

1980 1985 1990 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Sales per market 2012

USA and Canada7,0 %

Rest of Europe12,5 %

Others1,0 %

666

EU51,5 %

Asia Pacific11,8 %

Norway16,2 %

More than 70 countries

Sales per product 2012

Whole salmon

43,8 %

Pelagic fish

0,7 %

Others

4,9 %

Shellfish

5,2 %

Salmontrout

8,8 %

777

Processed salmon

28,0 %

Whitefish

8,5 %

Scotland

NorwayNorway

France

Portugal

FinlandSweden

Turkey

North AmericaChina

Japan

Lerøy Seafood Group - Global organization

TheNetherlands

888

Farming

Production

Sales & Distribution

999

Integrated value chain

101010

Farming in Norway

North poleNorway

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Company Ownership Licences Mill. smolt 2010 2011 2012 2013Eshare No individuals GWT GWT GWT GWT

Lerøy Midnor AS 100 % 30 9,5 34 000 35 900 34 400 36 000Lerøy Aurora AS 100 % 17 7,5 20 300 18 100 20 000 22 000Lerøy Hydrotech AS 100 % 24 7,0 25 200 26 400 27 500 27 000Lerøy Vest AS 100 % 34 14,2 34 300 34 500 38 700 39 000Sjøtroll Havbruk AS 50,71 % 25 8,4 3 000 21 700 32 900 30 000*)

Production of salmon and fjord trout

121212

**)Total Norway 130 46,6 116 800 136 600 153 400 154 000

Norskott Havbruk AS (UK) 50 % 7,0 13 500 10 900 13 600 12 500

Total 53,6 130 300 147 500 167 000 166 500

Consolidated, farming

Affiliated, farming

*) Acquired and consolidated as from November 2010**) LSG’s share

Atlantic salmon – SupplyTons WFE

Change Change Change Change2009 2010 09-10 2011 10-11 2012 11-12 2013 12-13

Norway 855 700 944 600 10,4 % 1 005 600 6,5 % 1 183 100 17,7 % 1 146 100 -3,1 %United Kingdom 144 800 141 800 -2,1 % 154 700 9,1 % 156 400 1,1 % 140 700 -10,0 %Faroe Islands 47 100 41 800 -11,3 % 56 300 34,7 % 70 600 25,4 % 70 300 -0,4 %Ireland 14 800 17 800 20,3 % 16 000 -10,1 % 15 600 -2,5 % 12 000 -23,1 %Total Europe 1 062 900 1 146 000 7,8 % 1 232 600 7,6 % 1 426 300 15,7 % 1 370 600 -3,9 %

131313Figures as per 25.02.13Source: Kontali

Chile 239 100 129 600 -45,8 % 221 000 70,5 % 364 000 64,7 % 478 400 31,4 %Canada 115 400 118 000 2,3 % 110 000 -6,8 % 123 500 12,3 % 106 700 -13,6 %Australia 32 200 33 000 2,5 % 36 000 9,1 % 36 500 1,4 % 37 000 1,4 %USA 16 400 18 000 9,8 % 18 300 1,7 % 19 600 7,1 % 19 500 -0,5 %Others 2 800 4 500 60,7 % 5 000 11,1 % 8 500 70,0 % 11 100 30,6 %Total America 405 900 303 100 -25,3 % 390 300 28,8 % 552 100 41,5 % 652 700 18,2 %

Total World-wide 1 468 800 1 449 100 -1,3 % 1 622 900 12,0 % 1 978 400 21,9 % 2 023 300 2,3 %

Atlantic salmon - Harvest Quantities Europein tons WFE

2013

2%

-5%

-2%-1%

-3%

-2% -2%

8%

-5%

0%

5%

10%

80 000

100 000

120 000

140 000

160 000

Harvest estimates Atlantic Salmon Europe

141414

-10%

-19%

-9%

-7%

-5% -3%

-25%

-20%

-15%

-10%

-

20 000

40 000

60 000

80 000

2010 2011 2012 2013 Chng 12-13 0-line

Figures as per 04.02.13 Source: Kontali

Atlantic salmon - Harvest Quantities World Widein tons WFE

2013

17%

7%

13%

5%

10%

15%

20%

150 000

200 000

250 000

Harvest estimates Atlantic Salmon World Wide

151515

7%

-5%

2%

-4% -4%

-1%0% 1%

1%

4%

-10%

-5%

0%

5%

-

50 000

100 000

2010 2011 2012 2013 Chng 12-13 0-line

Figures as per 25.02.13Source: Kontali

Lerøy Seafood Group – Processing in EuropeLerøy Aurora

Lerøy SmögenLerøy Fossen

Lerøy Innovamar

Sinkaberg

Lerøy Midnor

Austevoll Fiskeindustri

Brandasundet

Rex Star

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Roede Vis

Lerøy Lyon

Lerøy Alarko

Lerøy Arras

Scottish Seafarm

Core focus areas CSR:

� Sea lice

� Escapes

� Environment

� Medication

� Use of energy/solid fuels, water - CO2 foot print, waste management

� Fish feed

� Food safety� Food safety

� Traceability

� Quality assurance

� Emergency preparedness

� Working conditions

� Health

Quality assurance systems in LSG

Farming Packing Processing

Sale/ distribution

HACCP systemInternal quality systemGlobal GapCustomer spesifications

HACCP systemInternal quality systemGlobal GapBRC

HACCP systemInternal quality systemGlobal GapBRC

HL AS:ISO 9001Global GapMSCCustomer spesificationsCustomer spesifications BRC

Customer spesificationsBRCCustomer spesifications

Customer spesifications

Other distribution:HACCP systemMSCKRAV in SwedenBRC in Malmø

FranceHACCP systemBRCISO 14 000

Product developement

1919

Retail news - Fiks

202020

SANDWICH SLICED SMOKED SALMON

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LERØY FINEST

WHITEFISH

SHELLFISH

SUSHI

25

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Aurora Salmon

Premium Norwegian Salmon

according to Japanese preference

for sushi salmon.

Tailored taste, texture, fat and

marbling.

27

marbling.

The fastest salmon to Japan.

- Your Special Treat -

•Based on 200 years of knowledge in fishing and smoking traditions

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•Traditional dry-salting for a firmer texture and better taste

•Use fresh fjord trout from the region

•Local alder wood create a unique taste

•Largest smoke house in Norway.

ALDER WOOD

At Osterøy, Alder has a long tradition of being the perfect type of wood for smoking fjord trout. The wood gives the unique and mild taste to the product. product.

Gently picked out from the local forest at Osterøy. Alder is known for growing in only the best and riches soil, and we believe this also enriches our products.

Fossen Fjord Trout, Smoked & Marinated

The best smoked Fjord Trout! Fossen serves 50 million meals every year!

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Lerøy Fjord Trout

- A Secret Worth Sharing -

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- A Secret Worth Sharing -

• The Rolls Royce of trouts.

• Striking red colour!

• Genetically smaller fish than salmon.

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• Genetically smaller fish than salmon.

• Shorter muscle fiber in the meat compared to salmon mean the fjord trout tastes more tender and velvety.

• Unique origin story. Swimming in water from a Norwegian Glacier.

Lerøy Fjord Trout – Kissed by a Glacier

Photo: F

rode Leikvoll

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Photo: F

rode Leikvoll

Suceeding together

• High service level and long term PARTNERSHIP

• Supply high QUALITY products to overseas markets

• Providing fast and efficient logistic solutions and concepts

• Satisfied customers

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www.leroyseafood.com