Thai Union has purchased a 50% stake in Aegir Seafood Company, a producer of Icelandic cod liver.

Paul Reenan, serving as the Regional President for Thai Union Europe Guðmundur P. Davíðsson, presiding as the chairman of Aegir's board BANGKOK – On November 18, 2022, Thai Union Group disclosed its decision to transform its strategic investment in Aegir, a leading Icelandic cod liver enterprise, from a loan-based arrangement to acquiring a 50% ownership stake. This move is set to enhance the already flourishing partnership between Aegir and Thai Union's European brands. Since Thai Union's initial investment in Aegir Seafood in 2019, the Icelandic firm has significantly boosted the growth of Thai Union's brand and private label ventures, notably benefiting King Oscar and Rügen Fisch. "The provision of Aegir's superior products has facilitated the expansion of our cod liver ventures under King Oscar and Rügen Fisch, allowing us to penetrate new markets that have shown a positive reception to the Icelandic cod liver," stated Paul Reenan, Thai Union Europe's Regional President. "Owning a 50% stake in Aegir now, we anticipate an even faster growth trajectory." "Aegir aligning with Thai Union marks a significant milestone for the Icelandic canned food sector. This investment from Thai Union empowers us to pursue sustainable growth in the upcoming years. Leveraging their robust commercial presence in Europe and other regions, we are poised to broaden our range of premium cod liver offerings from Iceland," remarked Guðmundur P. Davíðsson, Aegir's board chairman. Ethical Sourcing Aegir procures all its cod through the Icelandic Responsible Fisheries and holds certification from the Marine Stewardship Council (MSC), a testament recognized globally as the gold standard for seafood sustainability. About Thai Union For over 45 years, Thai Union Group PCL has stood at the forefront of the global seafood industry, delivering high-quality, nutritious, delicious, and innovative seafood products worldwide. Currently, Thai Union is celebrated as a leading seafood producer globally, boasting a comprehensive portfolio of top international brands including Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, Hawesta, and Rügen Fisch, alongside prominent Thai brands such as SEALECT, Fisho, Qfresh, Monori, OMG Meat, Bellotta, and Marvo, and also includes ingredient and supplement brands like UniQ®BONE, UniQ®DHA, and ZEAvita. Dedicated to "Healthy Living, Healthy Oceans," Thai Union proudly affiliates with the United Nations Global Compact, serves as a founding member of the International Seafood Sustainability Foundation (ISSF), and holds the current Chairmanship of Seafood Business for Ocean Stewardship (SeaBOS). The company's continuous efforts in sustainability through its SeaChange® strategy have been acknowledged with its eighth consecutive listing on the Dow Jones Sustainability Indices (DJSI) in 2021 and its sixth consecutive inclusion in the FTSE4Good Emerging Index in 2021. Discover more about our initiatives at seachangesustainability.org. Media Inquiries Markus Reber Director of Communications for Europe Thai Union Europe Mobile: +44 7779 559551 Email: markus.reber@thaiunion.com Website: www.thaiunion.com