From fjord to fork with Lerøy

Globally leading supplier of high-quality seafood

«We turn learning into action to create meaningful progress. With our sights set on growth, sustainability and value creation, we’re shaping a stronger future.»

Henning Beltestad, CEO

WildCatch

Value-added processing

Distribution

Customers

Globally leading seafood supplier

Every day, Lerøy brings the finest Norwegian seafood to tables around the world.

Our mission is clear: to build the world’s most efficient and sustainable seafood value chain – from fjord to fork.

Lerøy supplies

5 million meals to 80 countries every day

Lerøy delivers 1 million meals in Norway every week

A normal cargo on our trawlers contains fish  equivalent to

2 million meals

One single Lerøy fish farm can contain enough fish to make

20 million meals

Local roots, global perspective

Our own activity and employees include:

Head office: Lerøy Seafood Group ASA

Hovedkontor Lerøy Seafood Group ASA

Mottak og bearbeiding av hvitfisk

Whitefish intake and processing

Slakteri, bearbeiding, salg og distribusjon

Harvesting, processing, sales and distribution

Havbruk

Aquaculture operations

Norway

Scotland

Great

North-America

Italy

Spain

Portugal

South

China

Thailand

Vietnam

Japan

Nutritious food for a sustainable future

Lerøy is a leading supplier of Norwegian seafood production and an important contributor to the world’s food supply. Our journey from fjord to fork reflects our passion for quality, sustainability and innovation.

Innovation in farming

Our farming business comprises fully integrated value chains in Northern, Central and Western Norway. Our companies, Lerøy Aurora, Lerøy Midt and Lerøy Sjøtroll, are major employers along the Norwegian coast and pioneers in biological and technological innovation for sustainable salmon and trout production.

Pioneers in WildCatch

Following a business acquisition in 2016, Lerøy has become a national leader in the catching and processing of whitefish. Lerøy Havfisk operates 10 modern trawlers, while Lerøy Norway Seafoods operates receiving and processing facilities in Northern Norway – including Båtsfjord, Nesseby, Kjøllefjord, Berlevåg, Hammerfest (two), Sørvær, Skårvågen, Melbu and Stamsund.

Value added processing, sales and distribution

Our processing facilities and sales and distribution activities ensure that Lerøy’s seafood meets all quality requirements. We distribute millions of seafood products to grocery stores, restaurants, canteens and hotels in more than 80 countries worldwide. Our sales and distribution segment operates from Norway, Sweden, Denmark, Finland, the UK, the Netherlands, Spain, France, Portugal, Italy, Turkey, China, Thailand, Vietnam, South Korea, Japan and the USA.

Looking optimistically to the future

When I see what we are achieving, I must express my sincere gratitude to our employees.

Together, we have accomplished milestones that demonstrate our strength as a company. Through One Lerøy, we are shaping and strengthening a shared culture that unites us across regions and roles.

Fish welfare and operational excellence

From humble beginnings in 1899 on the island of Lerøy, south of Bergen, we have grown into one of the world’s leading seafood companies. Our heritage is built on a deep commitment to quality, generations of expertise, and a passion for progress, especially in one of our most important areas: fish welfare.

We have made major advances in genetics, roe and smolt production, and the adoption of new technology. Our innovative use of submerged cages has significantly reduced the need for delousing. Combined with our structured approach, Lerøy Way, our innovative strength has led to stronger biological performance and improved fish welfare.

A solid foundation for success

In 2022, we set ambitious goals for 2025, and we are making strong progress. This is particularly true within our farming operations, as well as our processing, sales and distribution (VAP, S&D) segments.

Our long-term improvement programmes deliver results, with measurable benefits, driven by a consistent ability to turn learning into action. Our priorities are clear: sustainable growth, continuous improvement and value creation.

Innovative technologies are driving our progress for both sustainability and growth in production

Henning Beltestad

“Our innovative investment in submerged cages has led to a significant reduction in delousing treatments.”

Henning Beltestad, CEO

volumes. With a strong foundation in place, I am confident about the opportunities that lie ahead.

Our people, our future

At the heart of Lerøy’s success are our 6 000 dedicated employees. With a clear vision, a unified team and an unwavering commitment to improvement, we are ready to face tomorrow’s challenges and seize the opportunities ahead.

Systematic focus on fish health

Across the entire value chain, Lerøy works continuously to optimise fish health and welfare.

Submerged cages

Substantial investments in new and sustainable technology are delivering promising results.

Since 2023, Lerøy has invested over more than NOK 1 billion in new and sustainable technologies, including submerged and semiclosed cages, camera surveillance, lice lasers and artificial intelligence.

The results are highly encouraging: lice levels have dropped, treatments are less frequent, and the fish remain undisturbed – which leads to less stress, better feeding, stronger growth and more resiliency. Combined with extensive research in the freshwater phase, this approach has delivered positive impact on fish health and welfare.

Caring for the fish every step of the way

– Fish are our livelihood. Our goal is to become the world’s most efficient and sustainable seafood producer. To achieve that, we must take care of the salmon throughout its entire life cycle, on land and at sea, every single day, in every step, says Karin Bloch-Hansen, Fish Health Manager at Lerøy Aurora.

Focus on health through the life cycle

The salmon’s life begins in freshwater as roe, then develops into smolt before moving to sea water, where it grows to harvest size. Throughout this journey, Lerøy’s focus is clear: the fish must thrive.

– Our breeding programme ensures we produce strong, healthy parent fish with desirable traits for rapid growth and natural resistance. Faster growth means less time at sea, fewer treatments and reduced risk of lice, improving both welfare and survival rates.

– We work closely with our breeding partners to select and verify roe quality. Combined with

advanced technology, this ensures the fish enjoy the best possible living conditions, says Karin Bloch-Hansen.

Research and monitoring

During the freshwater phase, Lerøy’s research teams focus on giving fish the best start in life.

– Through an ongoing monitoring and research programme, we examine the biological characteristics of the fish, apply available knowledge, and identify opportunities for improvement. Based on these insights, we suggest and implement operational changes. Before the fish are transferred to sea, they are also vaccinated – a crucial measure for ensuring fish health and welfare.

– In the sea phase, we are carrying out a major technology programme. In recent years, Lerøy has made significant investments in submerged solutions. Camera monitoring and artificial intelligence (AI) used to observe salmon and count sea lice, enable us to implement fish-health improvement measures at a very early stage, continues Karin Bloch-Hansen.

Training and documentation

Fish welfare training is systematised through practical learning and e-learning modules for all Lerøy employees.

– For Lerøy, fish welfare depends on four key principles: the fish must be healthy, free from injury, live in optimal conditions, and be handled as little as possible.

– Our success is built on teamwork every day, across every part of our value chain, concludes Karin Bloch-Hansen.

New technology is helping to reduce sea lice and shape the future

Lerøy uses several types of cages that protect the fish from sea lice: submerged cages, which keep the fish below the layer of water where lice thrive most, and semi-closed systems. In addition, the company is investing in lice lasers and other advanced technologies at several sites.

New technology, new inspiration Oda and Thea Lervåg Stokke, twin apprentices based in Halsa, Nordmøre, work hands-on with Lerøy’s newest innovations every day.

– It’s motivating to know that I’m helping to produce healthy and sustainable food. The new technology inspires me, and I see a bright future at Lerøy. For me, the most important thing is ensuring the fish are well cared for and that everything runs smoothly at the site, says Oda Lervåg Stokke.

– We really enjoy our work and are proud to produce sustainable food, something the world needs far more of, adds Thea Lervåg Stokke.

Better fish health

Improvements in genetics, roe, smolt and grow-out fish production are expected to give better fish health. Enhanced genetics are expected to contribute to higher growth rates in the sea phase.

• Introduction of a new breeding generation

• Process improvements in roe and smolt production make the fish more robust

• Gradual introduction of shielding technology in the sea phase

• Improvements gradually implemented and reflected in the results

Safe food from the sea

At Lerøy, food safety is our top priority.

Every day, our many factories deliver safe, high-quality seafood to customers around the world, all year round, from salmon and trout to whitefish and shellfish.

We control every step of the value chain, from wild catch and farming to processing, packaging and global distribution, bringing millions of seafood meals to more than 80 countries.

Complete traceability

Every Lerøy product can be traced through the whole process. Our integrated systems provide full visibility at every stage, from the origin of the fish, through production to the customer.

All our facilities operate under strict hygiene, cleaning and maintenance requirements.

We have good internal systems, so that we can monitor all parts of production, and an extensive analysis and sampling programme confirms that the products are safe to eat.

Third-party audits

To guarantee our high standards, Lerøy’s seafood production is regularly audited by Det Norske Veritas (DNV), an independent, third-party certification body. DNV conducts both announced and unannounced inspections to verify compliance with the strictest standards for quality, food safety and sustainability. Our facilities are also inspected by the Norwegian Food Safety Authority, and in some cases by our customers, as part of their own quality programmes.

Lerøy and food safety

• High hygiene standards

• Factories are cleaned and disinfected daily

• Comprehensive testing and analysis programme

• Analysis of product shelf life

• Full traceability at every stage

• Audits by independent third parties

Using 100% of the fish

At Lerøy, we are committed to making full use of the fish – turning every part into value.

Through innovation and respect for natural resources, we develop new products and solutions based on the entire raw material, not just the fillet. It’s about smart production for people and for the future.

Culinary innovation

Led by former Michelin-star chef Fredrik Hald and our dedicated product development team, we continuously explore ways to use more of the fish to create high-quality dishes that taste exceptional and respect the environment.

Pioneers in iron supplements

All trimmings and residual raw materials from salmon, trout and whitefish are carefully utilised

and transformed into valuable marine ingredients for feed, bioenergy and new nutritional products.

Through our 100% Fish initiative, we are pioneering advanced uses such as iron supplements made from salmon blood concentrate, now being industrialised at Lerøy Aurora.

Supplying five million meals every day, and a complete value chain behind us, we have the knowledge, technology and people to make full use of the fish. Always.

Environmental efforts that work

Several surveys show that Lerøy is among the best in class when it comes to sustainability.

In 2024, Lerøy ranked second in the Coller FAIRR Index among the world’s 60 largest listed protein producers. We also achieved an A- rating for climate action and B- for water security and forest management from the Carbon Disclosure Project (CDP), a result of years of dedicated, company-wide environmental efforts.

Many initiatives

Lerøy takes climate responsibility very seriously and is continuously working to reduce its environmental footprint in all operations and at all levels.

A great example is Lerøy Sjøtroll Kjærelva in Sunnhordland, one of the world’s largest land-based hatcheries. This state-of-the-art facility has reduced water use and features one of Norway’s largest solar power plants, generating clean, renewable energy.

Environmental monitoring

Thorough environmental monitoring is carried out at all Lerøy's farming locations. The samples are taken by an independent, certified third party according to Norwegian Standards.

Samples are taken from the bottom of the area at each facility, and the results are available on the Directorate of Fisheries' map pages.

Lerøy has good sites

Most sites show little or no environmental impact, confirming conditions close to a natural state.

At sites where impacts are slightly elevated, we are implementing appropriate measures, including extended fallowing periods, reduced fish stocking, and/or collection efforts.

About the measurements

• The Coller FAIRR score is based on how companies assess ESG risk, policies and practices.

• The CDP (Carbon Disclosure Project) assigns companies a score between A and D, based on transparency, awareness, management of environmental risks, and best practice in environmental management.

In harmony with nature

When we harvest from the sea, we do so with respect for nature and on nature’s terms.

Our seafood comes from both wild catch and farming. Through Lerøy Havfisk, which operates 10 modern trawlers, we supply raw materials to our coastal factories for further processing.

Lerøy Havfisk operates sustainable and regulated wild catch with its trawlers, based on knowledge and responsibility. Our activities are in line with strict Norwegian and international requirements, and bottom trawling is the most precise and controlled method for catching cod, haddock, saithe and shrimp. Lerøy Havfisk is actively involved in developing even more sustainable and efficient fishing methods, both technologically and environmentally.

Nutrient salts from seafood production

Sustainable aquaculture is at the heart of Lerøy’s operations. Through innovation and continuous improvement, we contribute to increased global food production with a smaller environmental footprint.

Our goal is to impact nature as little as possible, while growing in harmony with it. Our farming locations are monitored and controlled by external, certified companies

based on regulatory requirements, and the Institute of Marine Research's annual risk analysis concludes that there is good dispersion and dilution of dissolved nutrient salts from aquaculture. The risk is assessed as low for “eutrophication of coastal waters due to nutrient discharges from fish farming” in all 13 production areas, the analysis/report states.

Circular economy in practice – from waste to resource

Our ambition to contribute to a circular economy is reflected in how we manage waste and emissions. We clean up a full 90 percent of nutrient discharges from our smolt facilities, and supply it as raw material for biofuels and soil improvement. This nutrient-rich by-product is used instead of being thrown away, which means that the nutrients are returned to nature's cycle.

We supply premium seafood to a global market, while protecting the environment, supporting local value creation and ensuring that future generations can also benefit from the riches of the ocean. We are at one with nature, today and in the future.

Climate impact and fish health

90%

Purification of nutrients from hatcheries

100%

Proportion of deforestation-free soya

100%

Traceability of soya in feed

91.5%

Survival in farming production

~70%

Reduction in delousing frequency in submerged cages

A value chain that creates ripple effects

Every day, Lerøy produces the equivalent of five million meals. Behind this figure lies a value chain that creates significant ripple effects along the coast, and far beyond our own facilities.

With 3 900 employees and operations in over 60 municipalities in Norway, and 6 000 employees across the Group, Lerøy is one of the country’s most important food producers.

In 2024, the Group contributed NOK 2.5 billion in taxes and duties in Norway. But our value isn’t just measured in numbers – it’s about people, jobs and local communities.

Using local suppliers

We collaborate with local suppliers, transporters, craftsmen and technology companies – and invest in everything from quays and feed barges to new factories and aquaculture technology.

In 2024, Lerøy purchased goods and services worth NOK 18 billion in Norway, from 5 100 suppliers distributed across 250 municipalities.

When we build new, we are not just building for ourselves. We are building for the future of the entire region.

Lerøy as a cornerstone company

In most municipalities where Lerøy has its core business, Lerøy is a cornerstone company. It is a role that creates opportunities for value creation, but it is also a role that imposes obligations.

Lerøy has a long-term perspective in everything we do. In the short term, this

means a significant food production, stable jobs and local value creation. In the long term, it is about creating an attractive future for new generations who want to live and work in coastal communities.

Alongside our sea and land day-today operations, we work closely with research institutions and the supplier industry to drive continuous improvement across the value chain.

Seafood is more than an export; it’s a driver of social and economic development. We’re proud to be part of the solution.

Positive ripple effects throughout the country

Lerøy has extensive activity in Norway with the production of salmon and trout, the catching of whitefish, further processing, product development, marketing, sales and distribution of seafood.

for 2024

We did business with 5 100 different suppliers registered in about 250 municipalities

• In-house activity and suppliers

• Suppliers

Lerøy purchased goods and services for roughly NOK 18 billion in Norway

We have employees in more than 60 municipalities

Impact on employment

3 900 direct employees in Norway

10 100 jobs in total (direct and indirect)

Impact on value creation (NOK)

14.5 billion in overall value creation

7.3 billion in direct value creation

Impact on direct and indirect taxes (NOK)

2.5 billion

Lerøy paid 1 billion in direct taxes and 0.7 billion in indirect taxes, while employee income tax withholdings totalled 0.8 billion.

6 200 indirectly related jobs

7.2 billion in indirect value creation

Strong activity and seafood production in Northern Norway

Fish from the Norwegian coast becomes delicious, sustainable food every day in our Northern Norway factories.

In Northern Norway, we produce a wide range of products, from fishcakes and gratins to fillets and portions. Year-round production, high raw-material utilisation and modern processing lines provide stable employment and local value creation.

We meet strict quality requirements, and a culture of expertise and improvement ensures safe, reliable food production.

Whitefish – a national resource

Whitefish is not only vital for export; it’s a strategic resource for food security, employment and value creation along the entire Norwegian coast.

In Northern Norway, Lerøy employs around 1 500 people at sea and on land, and more than 1 500 man-years counting

the wider ripple effects, enabled by an integrated value chain that secures predictable raw-material access and continuous industrial operations.

More than just jobs

Local presence brings more than employment: it strengthens Norway’s food supply, national preparedness and community stability. Our factories operate year round, with active recruitment both at sea and on land.

The whitefish sector creates stable jobs and economic activity, building communities where people live. It’s about more than fish; it’s about security, long-term value creation and a sustainable future for the coast.

Growth and development in Eastern Finnmark

Parts of Finnmark, particularly the eastern region, face significant demographic challenges, and this is exactly where Lerøy is investing for the future.

Local presence, settlement and vibrant local communities in the region are more important than ever.

Significant investment and presence

Lerøy has established a strong presence in Eastern Finnmark. We have recently completed major investments in the whitefish industry, including NOK 220 million in Båtsfjord and a NOK 160 million modernisation of our factory in Kjøllefjord. In Laksefjorden, we are finalising the last phase of our post-smolt facility, a NOK 240 million investment, and in total, Lerøy has now invested more than NOK 1 billion in post-smolt production. In Kirkenes, we recently opened a new aquaculture visitor centre, marking our continued commitment to growth and seafood innovation in the Varanger region.

“At our post-smolt facility in Laksefjord, we have now invested more than NOK

1 billion.”

Year-round jobs

Lerøy employs around 300 people in WildCatch and farming across Eastern Finnmark, and we are looking to grow. Together with local authorities and community partners, we aim to create year-round employment and contribute to positive, sustainable development for both industry and society in the region.

To ensure continued growth, value creation and job opportunities, we depend on politically predictable

regulations for our wild catch and strong, stable frameworks for aquaculture, including access to suitable sites for farming. These are essential to maintaining activity in our processing facilities and to supporting the local communities’ shared ambition for further growth in seafood production.

There remains tremendous untapped potential for jobs, innovation and ripple effects from seafood production in Eastern Finnmark, and Lerøy is committed to unlocking it.

Our people, our strength

At Lerøy, we are building an inclusive, engaging workplace within a forward-looking global company. Our 6 000 employees are our most valuable asset and at the heart of everything we do.

We focus on attracting, developing and retaining talented people. The combination of new talent bringing fresh ideas and experienced colleagues with deep expertise is key to Lerøy’s continued growth and success.

A sea of career opportunities

As one of the world’s leading seafood companies, Lerøy offers a wide range of career opportunities across the entire value chain. We take pride in providing excellent entry pathways for young professionals, including apprenticeships, trainee programmes and internships. In addition to our own trainee programme, Lerøy collaborates with the NCE Seafood Innovation Cluster and Arena Nord Troms.

Lerøy Havfisk, our trawler company, is the Group’s largest apprenticeship provider, with around 50 apprentices and 40 interns in 2023, a vital recruitment platform for the next generation of fishers.

– I’ve been able to try different roles and grow both professionally and personally. I really enjoy this industry. I’m proud of what I do, it feels meaningful, says Marita Gundersen, Operations Manager, Lerøy Aurora.

From apprentice to operations manager

Marita started as an apprentice in 2008 and has worked her way up to become Operations Manager at Lerøy Aurora in Ersfjord, leading a team of eight people. She has now held this position for six years.

At Lerøy, we create both formal and informal learning arenas. Through initiatives such as leadership programmes, trainee schemes, professional certifications, internal mobility and e-learning,

we offer continuous training and development opportunities for all employees. We have also expanded our Norwegian language courses, essential in our multicultural workforce of more than 20 nationalities.

For the second year running, Lerøy has been voted the most attractive employer in Norway’s seafood industry by over 1 400 university and college students nationwide.

From deck to bridge: Mariell’s journey to the helm

Mariell Celina Brose Simonsen, now Mate on Lerøy Havfisk’s trawler «Doggi» has built her career from the deck up, guided by passion for fishing and leadership.

At 18 years old, Mariell (now 30) left school to follow her passion for wild catch. Starting as a “half-share” crew member with part-time pay, her dedication and willingness to learn quickly earned her full-time status and more responsibility. She began her seagoing career in 2013, and just five years later became Factory Manager on board the Doggi, Lerøy Havfisk's trawler.

A career built at sea

Mariell's goal has always been clear: to get “on the bridge”. In 2021, she started training as a mate at the vocational school in Tromsø, and in 2023 she was hired as a mate at Lerøy Havfisk, a position she got in competition with over 100 other applicants.

Mariell’s story is a shining example of how a lifelong career can be built at sea. Health, safety and continuous training are top priorities on Lerøy trawlers, where apprentices regularly gain valuable hands-on experience and mentoring.

– You always want to be your best, so there’s a bit of healthy competition. Success requires understanding of fishing,

weather and ocean conditions, but above all, it’s about teamwork. A good leader is fair and sees everyone. I value every crew member. Even though my job takes place in a warm wheelhouse, it requires great focus. At the same time, I know how tough it can be to work out on deck in cold and rough weather, says Mariell Celina Brose Simonsen.

Great working environment

Mariell describes life on board as fantastic, with strong camaraderie and mutual respect among the crew. She emphasises the importance of respecting and accepting each other in order to build a good working environment.

– Anyone can come to me for a chat or with questions. I want to be someone people can trust. The crew’s safety always comes first, she says.

She loves her job, and no two days are ever the same. The thrill of finding fish and mastering the challenges of the sea keeps her passion alive.

NORWEGIAN SEAFOOD PIONEERS

SINCE 1899

HONEST – OPEN – RESPONSIBLE Creative