Approved by the Board of Directors of P/F Bakkafrost Holding on 29th January 2010

1. Communication with shareholders, investors and analysts is a priority for P/F Bakkafrost Holding (the "Company”). The Company’s objective is to ensure that the financial market and the shareholders have sufficient information about the Company to be certain that pricing reflects underlying values. Care will be taken by the Company to ensure an impartial distribution of information when dealing with shareholders and analysts. The Company will arrange open investor presentations in connection with the Company’s annual and quarterly reports. Presentations made for investors in connection with the annual and quarterly reports will be made available on the Company’s website. Important events affecting the Company will be reported immediately.

2. The Company shall present its annual accounts before end of April.

3. The Company will present its accounts on a quarterly basis, no later than 60 days after each quarter has ended.

4. All information will be given in English.

5. The Chief Executive Officer will be responsible for communication with shareholders outside the general meeting.