Lerøy General Presentation

Lerøy Seafood Group Hallvard Lerøy AS

www.leroy.no

History - Since 1899 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 #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

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Lerøy Seafood Group • 11.5% share of Norwegian seafood export value • 16.8% of Norwegian salmon export • 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)

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”Lerøy in every kitchen”

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Turnover LSG NOK million

10 000 9 000 8 000 7 000 6 000 5 000 4 000 3 000 2 000 1 000 0 1980 1985 1990 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

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Sales per market 2012 Others 1,0 %

Rest of Europe 12,5 % USA and Canada 7,0 %

EU 51,5 % Norway 16,2 % Asia Pacific 11,8 %

More than 70 countries 6

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Sales per product 2012

Shellfish Others 5,2 % Pelagic fish 4,9 % 0,7 %

Salmontrout 8,8 % Whole salmon 43,8 %

Whitefish 8,5 %

Processed salmon 28,0 %

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Lerøy Seafood Group - Global organization Norway The Netherlands

Sweden

Finland

Scotland Japan

North America France

Turkey

Portugal

Farming Production Sales & Distribution

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China

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Integrated value chain

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Farming in Norway Norway North pole

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Production of salmon and fjord trout Company Lerøy Midnor AS Lerøy Aurora AS Lerøy Hydrotech AS Lerøy Vest AS Sjøtroll Havbruk AS *) Total Norway

Ownership Licences Mill. smolt share No individuals 100 % 30 9,5 100 % 17 7,5 100 % 24 7,0 100 % 34 14,2 50,71 % 25 8,4 130 46,6

Norskott Havbruk AS (UK) **) 50 % Total

2010 GWT 34 000 20 300 25 200 34 300 3 000 116 800

2011 GWT 35 900 18 100 26 400 34 500 21 700 136 600

7,0

13 500

10 900

53,6

130 300

147 500

Consolidated, farming Affiliated, farming *) Acquired and consolidated as from November 2010 **) LSG’s share

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2012 2013E GWT GWT 34 400 36 000 20 000 22 000 27 500 27 000 38 700 39 000 32 900 30 000 153 400 154 000 13 600

12 500

167 000 166 500

Atlantic salmon – Supply Tons WFE

Norway United Kingdom Faroe Islands Ireland Total Europe Chile Canada Australia USA Others Total America

2009 2010 855 700 944 600 144 800 141 800 47 100 41 800 14 800 17 800 1 062 900 1 146 000 239 100 115 400 32 200 16 400 2 800 405 900

129 600 118 000 33 000 18 000 4 500 303 100

Total World-wide 1 468 800 1 449 100

Figures as per 25.02.13 Source: Kontali

Change Change Change Change 09-10 2011 10-11 2012 11-12 2013 12-13 10,4 % 1 005 600 6,5 % 1 183 100 17,7 % 1 146 100 -3,1 % -2,1 % 154 700 9,1 % 156 400 1,1 % 140 700 -10,0 % -11,3 % 56 300 34,7 % 70 600 25,4 % 70 300 -0,4 % 20,3 % 16 000 -10,1 % 15 600 -2,5 % 12 000 -23,1 % 7,8 % 1 232 600 7,6 % 1 426 300 15,7 % 1 370 600 -3,9 % -45,8 % 2,3 % 2,5 % 9,8 % 60,7 % -25,3 %

221 000 110 000 36 000 18 300 5 000 390 300

-1,3 % 1 622 900

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70,5 % -6,8 % 9,1 % 1,7 % 11,1 % 28,8 %

364 000 123 500 36 500 19 600 8 500 552 100

12,0 % 1 978 400

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64,7 % 12,3 % 1,4 % 7,1 % 70,0 % 41,5 %

478 400 106 700 37 000 19 500 11 100 652 700

31,4 % -13,6 % 1,4 % -0,5 % 30,6 % 18,2 %

21,9 % 2 023 300

2,3 %

2013

Atlantic salmon - Harvest Quantities Europe in tons WFE

Harvest estimates Atlantic Salmon Europe 10%

160 000 8%

140 000 120 000

2%

0% -1%

100 000

-2%

-2%

-2%

-7%

-10%

-10% -15%

-9%

40 000 20 000

-20%

-19%

-

-25%

2010

Figures as per 04.02.13 Source: Kontali

-5%

-3%

-5%

80 000 60 000

5%

2011

2012

2013

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Chng 12-13

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0-line

2013

Atlantic salmon - Harvest Quantities World Wide in tons WFE

Harvest estimates Atlantic Salmon World Wide 250 000

200 000

20%

15%

17% 13%

10%

150 000 7%

5%

100 000

4%

-1%

2%

50 000

-4% -5%

0%

0%

1% 1%

-5%

-4%

-

-10%

2010

Figures as per 25.02.13 Source: Kontali

2011

2012

2013

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Chng 12-13

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0-line

Lerøy Seafood Group – Processing in Europe Lerøy Innovamar

Lerøy Aurora

Lerøy Midnor Sinkaberg

Lerøy Smögen Lerøy Fossen Austevoll Fiskeindustri Brandasundet Rex Star Roede Vis

Scottish Seafarm

Lerøy Lyon

Lerøy Arras

Lerøy Alarko

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Core focus areas CSR:

Sea lice Escapes Environment Medication Use of energy/solid fuels, water - CO2 foot print, waste management Fish feed

Food safety Traceability Quality assurance Emergency preparedness

Working conditions Health

Quality assurance systems in LSG Sale/ distribution Farming

Packing

HACCP system HACCP system Internal quality system Internal quality system Global Gap Global Gap Customer spesifications BRC Customer spesifications

Processing HACCP system Internal quality system Global Gap BRC Customer spesifications

HL AS: ISO 9001 Global Gap MSC Customer spesifications Other distribution: HACCP system MSC KRAV in Sweden BRC in Malmø France HACCP system BRC ISO 14 000

Product developement

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Retail news - Fiks

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SANDWICH SLICED SMOKED SALMON

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LERﾃ郎 FINEST

WHITEFISH

SHELLFISH

SUSHI

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Aurora Salmon Premium Norwegian Salmon according to Japanese preference for sushi salmon.

Tailored taste, texture, fat and marbling.

The fastest salmon to Japan.

- Your Special Treat -

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

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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.

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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• The Rolls Royce of trouts.

• Striking red colour!

• 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.

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Lerøy Fjord Trout – Kissed by a Glacier

Photo: Frode Leikvoll

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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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