a. Name of Issuer of shares: Bakkafrost P/F
b. Date which holding exceeded threshold: November 19, 2025
c. Name of Shareholder: Sprucegrove Investment Management
d. Number of shares the notification encompasses: 2,904,411 shares (4.91%) based on shares outstanding of 59,143,000 shares (source: Signal)
e. Subsequent Situation Prior to Disclosure: We previously disclosed September 17, 2025 at 5.05%.
f. Percentage of the votes/shares of the company held in the form of rights to shares: 0
g. The circumstance that triggered disclosure obligation: Redemptions for client accounts
h. Chain of controlled undertakings through which shares/rights are owned: Shares are held beneficially in client accounts which are managed by Sprucegrove Investment Management
i. Notification concerning rights to shares: Sprucegrove does not hold any rights