SalMar - 2015 share-based incentive scheme for senior executives and key personnel

In accordance with the authorisation granted by the AGM on 2 June 2015, the board of directors of SalMar ASA (the Company) has decided to establish a share-based incentive scheme (Restricted Share Unit Plan) for senior executives and key personnel employed by the company and its subsidiaries. The scheme encompasses up to 324 581 shares and has a duration of three years. The company's liability with respect to the scheme will be met through existing holdings of treasury shares. As of 21 December 2015, SalMar ASA holds 1 180 081 treasury shares.

The purpose of the share-based incentive scheme (RSUP) is to encourage employees to maintain a deep, long-term engagement in the company, through a further alignment of the employees' interests with those of other shareholders. Under the RSUP, participating individuals will be awarded shares to motivate them to contribute to the continued success and profitability of the company, as well as deliver outstanding results. The RSUP will also enhance SalMar's ability to attract and retain staff.

Under the RSUP, participants will receive, free of charge, Restricted Share Units (RSUs), which, if certain predefined performance criteria are met within an accrual period, will be released and transferred to them as shares. The RSUP comprises three accrual periods of one, two and three calendar years respectively, with 2015 being the first year. Each accrual period encompasses 1/3 of the total number of RSUs included in the scheme. One RSU gives a contingent entitlement to one share. The following criteria determine the award of RSUs during each of the three accrual periods:

- Award of 1/3 of the RSUs is independent of any performance criteria
- Award of 1/3 of the RSUs depends on SalMar achieving a certain EBIT/kg more than other aquaculture companies listed on the Oslo Stock Exchange during the accrual period
- Award of 1/3 of the RSUs depends on SalMar's shares achieving a higher total shareholder return (TSR) than a defined group of comparable companies during the accrual period.

Accrual of RSUs under the scheme presumes that the individual is an employee of SalMar or a participating subsidiary. The total gain from released RSUs during one calendar year shall not exceed 100 per cent of the participant's basic salary.

The RSUP goes into effect on 21 December 2015 and encompasses senior executives and key personnel at SalMar and its subsidiaries.

Restricted share units granted primary insiders 21 December 2015:
Leif Inge Nordhammer has received 10 019 RSUs in the Company
Trond Tuvstein has received 6 098 RSUs in the Company
Ulrik Steinvik has received 5 714 RSUs in the Company
Eva Haugen has received 4 005 RSUs in the Company
Tom Aleksandersen has received 7 386 RSUs in the Company
Olav Andreas Ervik has received 5 919 RSUs in the Company
Tonette Bjørgård has received 4 003 RSUs in the Company
Runar Sivertsen has received 2 224 RSUs in the Company
Geir Berg has received 2 321 RSUs in the Company
Merethe Gisvoll Sandberg has received 2 654 RSUs in the Company
Ståle Eide (related party of primary insider) has received 3 194 RSUs in the Company

New holding
After completion of the abovementioned grant Leif Inge Nordhammer* holds 18 795 RSUs in the Company. As of today the primary insider holds 2 654 452 shares in the Company.

After completion of the abovementioned grant Trond Tuvstein** holds 11 245 RSUs in the Company. As of today the primary insider holds 13 788 shares in the Company.

After completion of the abovementioned grant Ulrik Steinvik holds 10 533 RSUs in the Company. As of today the primary insider holds 7 076 shares in the Company.

After completion of the abovementioned grant Eva Haugen holds 7 383 RSUs in the Company. As of today the primary insider holds 1 695 shares in the Company.

After completion of the abovementioned grant Tom Aleksandersen holds 7 386 RSUs in the Company. As of today the primary insider holds 0 shares in the Company.

After completion of the abovementioned grant Olav Andreas Ervik holds 10 813 RSUs in the Company. As of today the primary insider holds 2 446 shares in the Company.

After completion of the abovementioned grant Tonette Bjørgård holds 7 380 RSUs in the Company. As of today the primary insider holds 894 shares in the Company.

After completion of the abovementioned grant Runar Sivertsen holds 4 100 RSUs in the Company. As of today the primary insider holds 938 shares in the Company.

After completion of the abovementioned grant Geir Berg holds 4 198 RSUs in the Company. As of today the primary insider holds 938 shares in the Company.

After completion of the abovementioned grant Merethe Gisvoll Sandberg holds 2 654 RSUs in the Company. As of today the primary insider holds 0 shares in the Company.

After completion of the abovementioned grant Ståle Eide holds 5 737 RSUs in the Company. As of today the primary insider holds 673 shares in the Company.

*Shares are owned directly and indirectly through LIN AS, as well as shares in the Kverva Group. Account taken of own shares in Kverva AS
**Shares are owned directly and indirectly through TTU Invenst AS.

For more information, please contact:
CFO Trond Tuvstein,
Tel: + 47 918 53 139
Email: trond.tuvstein@salmar.no
Website: www.salmar.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.