FRY ASA: Publication of preliminary financial figures for Q4 2021

Frøya, Norway - 15 February 2022

Referring to the stock exchange release from NTS ASA ("NTS") regarding
publication of preliminary Q4 2021 figures for NTS, published on ticker NTS.  

Frøy ASA ("FRØY") today announce preliminary financial figures for Q4 2021. The
financial figures attached are unaudited and preliminary. 

Key highlights Q4 2021
o Revenues of NOK 562,5 million vs. Q4 20 NOK 398,8 million. 
o EBITDA of NOK 260,2 million including gain from sale of assets of NOK 84,2
million (Q4 20: NOK 166,4 million incl. NOK 4,3 million gain from sale of
o Backlog 31.12.21 of approx. NOK 6.2 billion including options, approx. NOK 3.7
billion are fixed revenue commitments. 
o Net interest-bearing bank debt of NOK 3.465,8 million (Q4 20: 2.806,6 million)

The final and complete Q4 2021 report including proposed capital allocation for
2021 will be released on February 23 2022. 

The final figures may deviate from the preliminary figures presented in this

For further information, please contact:

Tonje Foss, CEO +47 996 10 116
Tore Helgesen, interim CFO + 47 952 61 371
Sondre Vevstad, IR +47 936 54 555

About Frøy:
Frøy is a leading integrated provider of aqua service services to Norwegian
salmon farmers. With a team of more than 700 specialised professionals and a
modern fleet of 80 vessels, Frøy offers a wide range of infrastructure services
to salmon farmers. The service offer includes transport of fish, sorting,
counting, cleaning of nets, treatment for diseases and lice, inspection,
installation and maintenance of salmon farming sites.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act § 5-12.

Important notices 

This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. The
distribution of this announcement and other information may be restricted by law
in certain jurisdictions. Copies of this announcement are not being made and may
not be distributed or sent into any jurisdiction in which such distribution
would be unlawful or would require registration or other measures. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.
Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its control.
Actual events may differ significantly from any anticipated development due to a
number of factors, including without limitation, changes in investment levels
and need for the Company's services, changes in the general economic, political
and market conditions in the markets in which the Company operates, the
Company's ability to attract, retain and motivate qualified personnel, changes
in the Company's ability to engage in commercially acceptable acquisitions and
strategic investments, and changes in laws and regulation and the potential
impact of legal proceedings and actions. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The Company does not provide any guarantees that the
assumptions underlying the forward-looking statements in this announcement are
free from errors nor does it accept any responsibility for the future accuracy
of the opinions expressed in this announcement or any obligation to update or
revise the statements in this announcement to reflect subsequent events. You
should not place undue reliance on the forward-looking statements in this
document. The information, opinions and forward-looking statements contained in
this announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.

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© Oslo Bors ASA, source Oslo Stock Exchange

Jacob L. Thornton