1. Principles for corporate governance
1.1 Introduction
Marine Farms ASA ("Marine Farms" or the "Company") is dedicated to maintaining high standards of Corporate Governance. Corporate Governance addresses the interaction between the shareholders, the Board of Directors and the Executive Management. The purpose of this document is to summarise the key principles of Corporate Governance of Marine Farms.

Marine Farms believes that maintaining high standards of Corporate Governance will improve the quality of discussions and work to be carried out by the corporate bodies. A sound Corporate Governance practice will strengthen confidence in the Company among shareholders, the capital market and other interested parties and thus contribute to value creation for the shareholders.

1.2 Relevant codes of practice
Being incorporated in Norway and listed on the Oslo Stock Exchange, Marine Farms is subject to the Norwegian Code of Practice for Corporate Governance of 28 November 2006. Adherence to the Code of Practice is based on a "comply or explain" principle, whereby companies will be expected to either comply with the Code of Practice or explain why they have chosen an alternative approach.

1.3 Relevant legislation
The Norwegian Public Limited Companies Act of 13 June 1997 no. 45 governs the incorporation and management of Norwegian public limited companies. Further, Marine Farms is under numerous obligations provided for in relevant Norwegian and other jurisdictions' laws in respect of the business operations carried out by the Company and its subsidiaries.