Nordic Aqua secures short-term credit facility

28 Aug 2024 20:40 CEST

(Oslo, 28 August 2024): Nordic Aqua, a global pioneer in land-based Atlantic
salmon farming, with its first farm located in Ningbo, China, has today entered
a short-term credit facility of EUR 5.8 million with DNB ASA. The facility has a
tenor of up to four months and is designed to provide the necessary liquidity to
support the company's ongoing operations and strategic growth initiatives.

This credit facility comes at a pivotal time for Nordic Aqua as the company
continues to implement corrective actions in response to recent challenges in
its operations. The company remains focused on addressing the geosmin issue that
affected its production in July. The funds will be used to maintain operational
stability, invest in essential capex for long-term improvements, and support our
ongoing buildout until the upcoming equity financing of approximately NOK 250
million planned for later this year and supported by several large shareholders.

- We are committed to ensuring that Nordic Aqua remains financially robust and
capable of delivering on our strategic objectives, CEO Ragnar Joensen comments.

- This credit facility will enable us to navigate the current challenges while
continuing to focus on our long-term vision of sustainable growth and a strong
market position for premium quality Atlantic salmon to the Chinese market under
the Nordic PureAtlantic brand, he adds.

For further information please contact:

CEO Ragnar Joensen ragnar@nordicaquapartners.com +298 599 112

CFO Tom Johan Austrheim tom@nordicaquapartners.com +47 982 09 873

About Nordic Aqua:

Nordic Aqua is a Nordic land-based Atlantic salmon farming company, using
cutting-edge Nordic technology and expertise to set up the first fully
integrated and commercially scaled Recirculating Aquaculture System (RAS) farm
for Atlantic salmon located in Ningbo, China. Nordic Aqua is the first local
producer of truly sustainable and Super-fresh Atlantic salmon to the Chinese
market. The current business plan is for an annual production of 20,000 tons
HOG. Nordic Aqua Partners AS is listed at Euronext Growth under the ticker NOAP

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