Statement from Samherji

Samherji would like to make the following statement after coverage about our operations in Namibia in a newscast broadcasted tonight by The Icelandic National Broadcasting Service.

"We were very disappointed to learn that Jóhannes Stefánsson, a former managing director of Samherji's operations in Namibia, appears to have been involved in questionable business practices and possibly entangled Samherji in activities that may be illegal," says Thorsteinn Már Baldvinsson, CEO of Samherji.

Jóhannes Stefánsson was fired from his position in Namibia in 2016 because of mismanagement and unacceptable behavior. Now he has admitted to engaging in illegal activities while managing Samherji's subsidiaries in Namibia.

Until recently, we had no knowledge of the scope and nature of Jóhannes Stefánsson’s business practices and it is uncertain whether they really were the way he describes. As we have already reported, we have engaged the international law firm Wikborg Rein in Norway to investigate the activities in Namibia. In this investigation, nothing will be excluded and we will disclose its findings as soon as they become available.

"We are deeply shocked that Johannes Stefánsson not only admits being involved in illegal activities, he is now also making allegations against colleagues. This is not how we do business. This is not Samherji,” says Thorsteinn Már Baldvinsson.

Samherji has been running a successful international operation for 35 years. We always strive to act in accordance with applicable laws and regulations. Samherji will co-operate with the relevant authorities that may investigate the fisheries industry in Namibia. If such an investigation will take place, Samherji has nothing to hide.

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