An international exchange

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1 1 # Why 1 in Seafood Why Oslo? should this be your choice

2 An international exchange International rules and regulations based on EU standards. Same trading platform as the London Stock Exchange. Many international investment banks are direct members. The Norwegian stock and bond markets are both extremely efficient in terms of listing process and capital-raising. 2

3 Products and market places Merkur Market Equities Equity Certificates ETF s and ETN s Warrants Derivatives Bonds Equities Bonds Equities MTF (from 2016) Market Data 3

4 Leading market positions in certain sectors Shipping Number 1 worldwide in marine transportation (number of companies) Seafood Number 1 worldwide (number of companies and market cap) Energy 2nd largest in Europe (number of companies) 2nd largest worldwide in oil service (number of companies) 4

5 Why apply to have shares listed on Oslo Børs Leading international exchange for seafood Access to equity Increased share liquidity and visibility World-class research coverage Investor protection Efficient listing process 5

6 The seafood sector at Oslo Børs Equipment & services 1 companies Biotech 1 company White fish: wild catch & farming 2 companies Salmon farming 7 companies 6

7 Oslo Børs Seafood Index last 10 years: The strongest of our strong sectors All-time high +/- % since Seafood 319,6 % OSEBX 88,9 % Shipping 68,3 % Energy -27,9 % Per Rebased: = 100

8 Oslo Børs Seafood Index 2015: The strongest of our strong sectors All-time high +/- % since Seafood 21,6 % Shipping 12,8 % OSEBX 9,0 % Energy -0,3 % Per Rebased: = 100

9 jun.06 okt.06 feb.07 jun.07 okt.07 feb.08 jun.08 okt.08 feb.09 jun.09 okt.09 feb.10 jun.10 okt.10 feb.11 jun.11 okt.11 feb.12 jun.12 okt.12 feb.13 jun.13 okt.13 feb.14 jun.14 okt.14 feb.15 jun.15 okt.15 Share price (NOK) Salmon (NOK/kg) Fish Pool: The share price follows the salmon: Opportunity for direct exposure in the salmon market MHG share price Salmon, avg. 12 mths fwd price (FCA Oslo-based) 9

10 Companies from all over the world listed on Oslo Børs Canada Netherlands Norway Faroe Islands Great Britain Sweden Denmark USA Cayman Islands Bermuda Luxembourg Cyprus Marshall Islands British Virgin Islands Hong Kong Liberia Singapore Australia Pr

11 Sizeable international distribution Over 50 member firms, more than half from outside Norway Largest brokers Norway Sweden Finland 2 Pr Source: Ireland France Denmark Germany Netherlands Switzerland

12 Good analyst coverage Mid cap (NOK 1 billion - 10 billion) Number of analysts «typical Oslo company» Large cap (> NOK 10 billion) 7,3 6,4 16,6 15,6 15,1 14,9 14,6 4,3 3,8 3,2 2,5 Oslo New York London Helsinki Copenhagen Small cap (< NOK 1 billion) 4,5 2,0 0,9 0,8 0,6 0,5 New York Oslo Helsinki London Copenhagen Stockholm Per Source: Bloomberg

13 New listings # Per

14 New listings in The Nordics Oslo Stockholm København Helsinki Per Source: Oslo Børs, Nasdaq OMX, Thomson Reuters

15 Two marketplaces for bonds Regulated by the Stock Exchange Act and EU rules Bonds traded since issuers / 632 loans / NOK bn IFRS financial reporting EEA prospectuses Organised and operated by Oslo Børs Established issuers / 1074 loans / NOK 426 bn No IFRS requirement Simplified prospectus requirements Updated

16 Why apply to have a bond listed on Oslo Børs or Nordic ABM? Access to investors - An increasing number of investors will only invest in bonds if the issuer is listed at a regulated stock exchange Continuous price quotations - Price quotations are published Investors demand listing - Investors seek the security of the company's duty of disclosure Oslo Børs offers efficient processes for listing of bonds. 2 5 business days. 16

17 Access to bond capital (new loans + tap issues), excluding government bonds (NOK bn) Oslo Børs Nordic ABM Pr

18 Summary Oslo offers attractive opportunities for seafood companies Efficient equity and bond markets International focus and visibility Presence of world class research capacity Access to European and US institutional investors International rules and regulations 18

19 Thank you!

20

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