The board of directors (the "Board") of AKVA group ASA ("AKVA" or the "Company")
has  resolved to implement  a revised incentive  plan (the "Incentive Plan") for
senior  management of AKVA. The overall purpose of the revised Incentive Plan is
to  ensure aligned interest between senior management employees and shareholders
in the current business environment, and to reward long-term and dedicated work,
which  is deemed to be of value to AKVA and its shareholders. The Incentive Plan
replaces  the  Company's  existing  share-based  incentive  plan  for the period
2020-2026. The  Incentive  Plan  participants  have  agreed  that no payments or
allocations will be made under the previous incentive plan in exchange for their
participation in the revised Incentive Plan. Furthermore, the Board has resolved
to  enter into  a new  option agreement  with the  Company's CEO Knut Nesse (the
"Option Agreement").

(i) The Incentive Plan:

The  Incentive Plan  provides for  an annual  grant of  shares to  the Company's
senior  management  employees.  The  share  grants  will vest and shares will be
transferred  to participants  annually for  a period  of between  three and five
years  after the Incentive  Plan becomes effective.  The annual share grants are
subject  to  certain  conditions  being  fulfilled,  including that the employee
remains  employed by the Company, that the Company shows a positive EBIT for the
relevant  year, and  that no  breach of  covenants has  occurred and is existing
under  the Company's external loans or debt facilities for the relevant year and
at  the time the grant  is vesting. The shares  granted under the Incentive Plan
will  be subject to lock-up arrangements,  customary leaver conditions, a change
of control trigger clause and other terms set out in the Incentive Plan.

A  total  of  499,380 shares  will  be  allocated under the Incentive Plan gross
before  deductions to cover participant income taxes on vested shares. The total
net  number of shares  that may be  transferred to participants  on an after tax
basis  is approximately 260 000 shares  based on current  tax rates etc., and is
expected  to be  covered by  the Company's  holding of  own shares.  The Company
currently holds 294 282 own shares.

(ii) The Option Agreement:

Pursuant  to the Option Agreement, Knut Nesse is granted rights to subscribe, or
purchase  from the Company, up to 80,000 shares in the Company at a subscription
price  of  NOK  70 per  share.  The  options  may be exercised within the period
starting  on  1 April  2025 and  ending  on 31 August 2025. The Option Agreement
replaces  an  option  agreement  between  the  Company and Nesse dated 16 August
2019. See the enclosed form for further details.

The  Incentive Plan  and the  Option Agreement  will only  become effective upon
approval  of revised  guidelines regarding  determination of  salaries and other
remuneration  to senior personnel of  the Company by the  general meeting of the
Company.  The Board  will propose  the necessary  changes to  the guidelines for
approval at the annual general meeting of the Company in 2023.

Dated: August 26, 2022


AKVA group ASA

Web: www.akvagroup.com


CONTACTS:

Knut Nesse - Chief Executive Office

Phone: +47 51 77 85 00

Mobile: +47 91 37 62 20

E-mail: knesse@akvagroup.com (mailto:knesse@akvagroup.com)


Ronny Meinkøhn - Chief Financial Officer

Phone: +47 51 77 85 00

Mobile: +47 98 20 67 76

E-mail: rmeinkohn@akvagroup.com (mailto:rmeinkohn@akvagroup.com)


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

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About AKVA group ASA

AKVA  group  ASA  is  a  global  technology  and  service  partner  that deliver
technology  and services  that  helps   solve  biological  challenges within the
aquaculture  industry.  Good  operational performance  and fish  welfare ensures
sustainability  and  profitability  for  the  customer.  This is the premise for
everything   we  deliver,  from  single  components  to  services  and  complete
installations.  In-depth aquaculture knowledge, extensive  experience and a high
capacity  for  innovation  characterizes  and  enables  us  to  deliver the best
solutions for both land-based and sea based fish farming.