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                                                                                                          Grieg Seafood   23                                                               Largest shareholders of Grieg                                                               Seafood ASA at 31.12.2010                                                               GRIEG HOLDINGS  AS                   48.03 %                                                               TEIGEN                               9.74 %                                                               ODIN NORGE                           4.27 %                                                               HALDE INVEST AS                      4.03 %                                                               ODIN NORDEN                          3.65 %                                                               DNB NOR SMB                          3.13 %                                                               YSTHOLMEN AS                         2.57 %                                                               REAL SALMON                          2,22 %                                                               SKANDINAVISKA ENSKILDA BANKEN        1.52 %                                                               METEVA AS                            1.25 %                                                               OTHER SHAREHOLDERS                   18.36 %                                                               Financial 2010                                                               ROCE *         19.8 %                                                               EK %           48.9 %                                                               NIBD **         1 047                                                               NIBD/EBIDTA      1.53                                                               * Retun on capital employded                                                               ** Net interest bearing debt                                                              Price development                                                                      Salmon price/kg in NOK                                                                      GSF share in NOK                                                              50                                                              45                                                              40                                                              35                                                              30                                                              25                                                              20                                                              15                                                              10                                                               5                                                               0                                                                2008          2009           2010          2011          Production capacity                                 Management             Expected harvest in 2011 64.800 tons GWE                           CEO             Production capacity. Total capacity 90.000 tons GWE             Morten Vike         30000                                            Biological perfor-                     CFO                                                          mance & planning                    Atle Harald                                                          Frode Mathisen                       Sandtorv         25000         20000                                                Feed &                             CAO                                                             Nutrition                       Trude Østvedt         15000                                            Tor Eirik Homme         10000                                                         Finnmark        B.C.        Shetland     Rogaland          5000                                                        Håkon Volden    Stewart     Michael Stark  Alexander                                                                       Hawthorn                    Knudsen            0               Rogaland  Finnmark  BC  Shetland
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