Lerøy Genereal Presentation

Lerøy Seafood Group Hallvard Lerøy AS

www.leroy.no www.leroyseafood.com

History – Since 1899 • Lerøy Seafood Group can trace its operations back to 1899.

• In 1939 Hallvard Lerøy AS was established.

• Since 1999 the Group has acquired substantial interests in various domestic and international enterprises.

• In 2002 Lerøy Seafood Group ASA was listed on Oslo stock Exchange • Full range seafood exporter.

• #2 global farmer of Atlantic Salmon • #1 Norwegian farmer of trout.

• 220,000tons 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 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

NOK9,1billion (USD1,6billion)

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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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

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 Spain Lerøy Alarko

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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 9

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Sales per product 2012

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

Salmontrout 8,8 %

4,9 %

Whole salmon 43,8 %

Whitefish 8,5 %

Processed salmon 28,0 %

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Integrated value chain

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Farming in Norway Norway North pole

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Production Salmon and trout Company Lerøy Midnor AS Lerøy Aurora AS Lerøy Hydrotech AS Lerøy Vest AS *) Sjøtroll Havbruk AS Total Norway Norskott Havbruk AS (UK)

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 **)

50 %

Total

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

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

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

New smolt facility, Belsvik, Sør-Trøndelag

• • • • • •

Recycling facility Capacity of 14 mill smolt Increased biosecurity Higher and stable smolt quality Stable supply all year – 6 outputs Environmental advantages • Low energy use • 0 emissions

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New factory in Arras 2013

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New factory in Madrid

Sjømathuset in Oslo

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Product developement

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Category development through INNOVATION

Lerรถy Smรถgen Seafood AB

Retail news - Fiks

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SANDWICH SLICED SMOKED SALMON & TROUT

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LERﾃ郎 FINEST

WHITEFISH

SHELLFISH

Retail news - sushi

Future fish counter

Future - Finland

Future - Stockholm

Future China

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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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Fossen Fjord Trout, Smoked & Marinated The best smoked Fjord Trout!

Fossen serves 50 million meals every year!

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Lerøy Fjord Trout - Kissed by a Glacier

• 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 • SERVICE • PARTNERSHIP • QUALITY • SUSTAINABILITY

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Going forward Drive innovation in the industry • • •

Within farming operations Within product and category development Within entering new markets

Utilize our vertical integration • •

Strong competitive edge with products with high traceability Provide flexibility and cost efficient solutions for customers

Strong environmental focus • •

Our operations are eternal We must ensure our products are as “clean” as today also in eternity

Strong operational focus • • •

Strong continued cost focus despite improvement in prices Local «ownership» of assets We strive everyday to perform better today than we did yesterday.

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New websites at www.leroyseafood.com 38

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www.leroyseafood.com 39

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