Endúr ASA - Investment decision (FID) for Salmon Evolution’s Phase 2

26 Jun 2024 21:58 CEST

Salmon Evolution ASA has today decided to go ahead with start of construction
for their Phase 2 land-based grow-out salmon farming facility at Indre Harøy,
Norway. Endúr ASA’s wholly owned subsidiary Artec Aqua AS signed the contract to
deliver the process facility for phase 2 (BTB) in June 2023, and will now
commence construction. Under the contract, Artec Aqua has done engineering of
the process facility. Now with the final investment decision taken, Artec Aqua
will deliver its hybrid flow-through technology and manage the construction and
commissioning of the process facility.

The total contract awarded is approximately NOK 1 billion for Artec Aqua. The
construction will commence in Q3 2024 and is expected to be completed in Q4
2026. Artec Aqua has previously conducted design, construction and commissioning
of Salmon Evolution’s phase 1 (BTA) at Indre Harøy. This facility has delivered
strong results over an extended period of time.

“We look forward to commencing construction of Phase 2 at Indre Harøy, and with
that contribute to a foundation for further growth for Salmon Evolution.
Overall, the results from Phase 1 at Indre Harøy have been excellent, and the
feedback from our customer emphasizes our project execution and technology as a
major contributor to the facility’s success,” says Ingegjerd Eidsvik, CEO of
Artec Aqua.

“Artec Aqua is one of the world’s leading suppliers of technical infrastructure
to land-based fish farming facilities, and Salmon Evolution is rapidly building
up its production volumes. It is a highly valuable collaboration, and we look
forward to contributing towards creating even stronger operational, biological
and financial results at Indre Harøy going forward,” says Jeppe Raaholt, CEO of
Endúr ASA.

The contract also includes an intention for Artec Aqua to provide technical
infrastructure for Salmon Evolution’s phase 3 (BTC), which is double the size
compared to phase 1 and 2, also at Indre Harøy.

(ENDS)

For further information, contact:

Media
CEO Endúr ASA, Jeppe Raaholt, +47 97 66 97 59
CEO Artec Aqua, Ingegjerd Eidsvik, + 47 95 08 77 54

Investors
CFO Endúr ASA, Einar Olsen, +47 924 01 787

About Endúr ASA:
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance
projects and services for marine infrastructure, including facilities for
land-based aquaculture, quays, harbours, dams, bridges and other specialized
concrete and steel projects. The company and its subsidiaries also offer a wide
range of other specialised project and marine services. Endúr ASA is
headquartered in Lysaker, Norway. See www.endur.no.

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