An aquaculture pioneer steps down in Cermaq

Mr. Geir Molvik hands over the baton as CEO of Cermaq Group as he wishes Cermaq well and seeks to prioritize his time differently going forward. New CEO from March 2022 will be Steven Rafferty, current MD of Cermaq Chile.

Geir Molvik has an experience of more than 40 years in the fish farming business.

- Geir has done a great job in developing aquaculture in Norway and internationally. For the past 15 years at Cermaq he has consolidated Cermaq's position as a premium salmon supplier in Chile, Canada and Norway. We are very pleased with the job he has done and wish to thank him for the development of Cermaq and the solid results during his period, says Chairman of Cermaq Group, Yasuhiro Kawakami.

Molvik will continue leading the company until the current Managing Director of Cermaq Chile, Steven Rafferty, takes over as CEO from March next year.

- I have been privileged to work with aquaculture in all parts of the world since the 1980s and have been involved in a lot of exciting activities. Now a chapter has come to an end, and I want to prioritize my time differently going forward. Hence, I asked the board to find a replacement earlier this year, says Molvik.

- We are very delighted getting Steven's expertise to lead Cermaq in the future. With global, commercial and operational experience from the entire value chain within fish farming, he will be well suited to take over the management responsibility of Cermaq, says Kawakami.

- My objective has been to establish aquaculture as a part of the solution to global sustainability challenges. We produce healthy and environmentally friendly food and showcasing this to our stakeholders is vital for further development of the industry, says Molvik.

- Until March 2022 I will finish the fantastic team effort in Cermaq Chile which has set the company on strong footing, thanks to solid efforts from our employees on many levels. I am very much looking forward to head Cermaq after Geir, who has given me a lot of support during the last years, says Rafferty.

As CEO, Molvik has been concerned with improving operations in all parts of the value chain. In addition, he has positioned Cermaq to be a driving force in international cooperation on climate action and environmental performance in aquaculture.

Molvik will be available for Cermaq after his departure next year.

Steven Rafferty comes from the position as MD of Cermaq Chile where he started in 2019. The company has been revitalized under Rafferty's leadership and is now doing well.

Prior to joining Cermaq, Rafferty had various executive positions in different international aquaculture companies during the last 20 years, as well as CFO and COO in Cermaq Group earlier. Rafferty will continue in his current role as MD in Cermaq Chile until his transfer to Norway and a replacement in Chile will be announced in due course.

For questions, please contact:

Cermaq: Director of Communication and Sustainability, Lars Galtung, + 47 98214812

Facts about Geir Molvik

• CEO 2016 – to date - Cermaq Group AS
• MD Cermaq Norway 2014 – July 2016
• COO Farming May 2010 – Dec 2013
• EWOS AS - Managing Director – 2006 – May 2010
• Managing Director Hydrotech Gruppen AS 1998 – 2006
• Christiania Bank - Senior Vice President 1993 – 1997
• Hydro Seafood AS – Section Manager 1990 – 1992
• Georgia Seafarms Ltd - Managing Director 1989 – 1990, BC Canada
• Tassal Ltd - Production Manager - 1986 – 1988 Tasmania, Australia
• Noraqua AS - Technical Manager 1984 – 1986
• Scientific assistant - University of Tromsø 1982-1984