Salmon Evolution ASA: Q3 2024 operational update

02 Oct 2024 07:00 CEST

Salmon Evolution ASA (the "Company", OSE: SALME) harvested 680 tonnes HOG in Q3
and reiterates the harvest guidance of approximately 2,500 tonnes HOG for the
second half of 2024, taking full year harvest volume to approximately 5,000 HOG.
The Company had good biomass buildup during the quarter, with steady improvement
in daily growth rates and continued strong results on key parameters such as
feed conversion ratio, mortality and superior grade share.

Q3 operational summary:

· Harvest of 680 tonnes HOG with superior grade share of 98 %.
· All-in price realization of NOK 72/kg.
· Average weight of 3.3 kg (HOG), up 10 % from Q2.
· Standing biomass of 2,582 tonnes LW end Q3.

"Biomass production is steadily improving at Indre Harøy, with a wide range of
initiatives ongoing to take out the full growth potential", CEO of Salmon
Evolution, Trond Håkon Schaug-Pettersen said. "The standing biomass is close to
record levels going into Q4, which together with a further increase in expected
harvest weights, makes us well positioned to capitalize on the expected price
rebound", he 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

More information:
Access the news on Oslo Bors NewsWeb site

628873_SALME_Q3_2024_Operational_update.pdf