Salmon Evolution ASA: Moving ahead with Indre Harøy phase 2

26 Jun 2024 18:00 CEST

Reference is made to the stock exchange announcements by Salmon Evolution ASA
("Salmon Evolution" or the "Company") on 18 June 2024, regarding the successful
private placement of approximately NOK 365 million and increase in bank
facilities with NOK 675 million.

The Company has taken the final investment decision for Indre Harøy phase 2 and
has accordingly signed an agreement with Artec Aqua and Hent, in which the phase
2 grow-out project moves into the construction phase. Mobilization will commence
shortly, with planned construction start during Q3 2024. In parallel the Company
is proceeding with the planning and engineering for the additional tank
capacity. As previously communicated no final decisions or agreements are
entered into for this part of the phase 2 project.

"We are now creating a foundation for substantial profitable growth, and with
phase 2 in full operation we will have a strong cash-flow generating platform
with significant annual investment capacity", CEO of Salmon Evolution ASA, Trond
Håkon Schaug-Pettersen said.

For further information, please contact:

Trond Håkon Schaug-Pettersen, CEO
thsp@salmone.no
+47 91 19 13 27

Trond Vadset Veibust, CFO
tvv@salmone.no
+47 48 09 05 95

About Salmon Evolution

Salmon Evolution is the global leader within land-based salmon farming with a
clear roadmap for 100,000 tonnes HOG annual production capacity. Pioneering the
hybrid flow-through system (HFS), Salmon Evolution is Extending the Ocean
Potential by creating optimal growth conditions in a controlled environment on
land. This approach, capturing the benefits of both land-based and sea-based
farming, puts biology first and limits operational and biological risk.

Salmon Evolution is strategically located the heart of the global aquaculture
industry on the west coast of Norway, where the Company has its first facility
and global centre of excellence fully operational at industrial scale. Enabled
by the proof of concept in Norway, Salmon Evolution targets significant
international expansion.

Salmon Evolution is listed on Oslo Børs under the ticker SALME. To learn more,
please visit www.salmonevolution.no

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