16 September 2022

Information within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014

Benchmark Holdings plc

("Benchmark", the "Company" or the "Group")

Successful refinancing through a new senior unsecured green bond issue

Refinances the Company's existing debt

Benchmark (LSE: BMK), the aquaculture biotechnology company, is pleased to confirm that further to its announcement of 6 September 2022, the Company has today successfully completed a new senior unsecured green bond issue of NOK 750 million (£64 million equivalent), with an expected maturity date on 27 September, 2025. The bond has a coupon of three months NIBOR* + 6.5% p.a. with quarterly interest payments.

The settlement date for the bond issue is expected to be 27 September 2022. An application will be made for the bonds to be listed on Nordic ABM, Open Market of the Frankfurt Stock Exchange, International Stock Exchange in Guernsey or the Cayman Islands Stock Exchange before the first interest payment date, and on the Oslo Stock Exchange or another regulated exchange within six months.

The net proceeds from the bond issue will be used to refinance Benchmark's outstanding senior secured bonds with the ticker "BHMH01" (ISIN NO0010858210), which mature in June 2023, and to finance green projects as described in the Green Bond Framework. The Green Bond Framework and the second party opinion provided by Cicero can be found on the Company's website.

Concurrently with the new bond issue, Benchmark will repurchase NOK 583 million of the outstanding bond issue "BHMH01" at a price of 102.25% of par, and the remainder will be called at a price of 101.69% of par through a separate call notice.

DNB Markets acted as Sole Bookrunner for the bond issue.

*NIBOR - the Norwegian Interbank Offered Rate, which stood at 2.76% as at 15 September 2022

Trond Williksen, CEO, commented:

"We are pleased to have completed this new green bond issue, which enables us to refinance our main existing debt and allows the Group to focus on commercial execution of its growth strategy, while also demonstrating our sustainability commitment."

About Benchmark 

Benchmark is a market leading aquaculture biotechnology company. Benchmark's mission is to drive sustainability in aquaculture by delivering products and solutions in genetics, advanced nutrition and health which improve yield, growth and animal health and welfare.

Through a global footprint in 26 countries and a broad portfolio of products and solutions, Benchmark addresses many of the major aquaculture species - salmon, shrimp, sea bass and sea bream, and tilapia -   in all the major aquaculture regions around the world. Find out more at www.benchmarkplc.com