Nordic Aqua: Sale of high quality Atlantic Salmon resumes with renewed strength

13 Feb 2025 18:05 CET

Oslo, 13 February 2025: Nordic Aqua (OSE: NOAP), a global pioneer in land-based
salmon farming, announces the restart of its sale of Atlantic Salmon at the
Ningbo facility, marking a significant milestone in the company's plan to
deliver fresh, sustainably farmed Atlantic salmon to the growing Chinese market.

Having successfully addressed operational challenges, including implementing
state-of-the-art measures to combat geosmin, the facility is now fully
operational and de-risked. Hence, Nordic Aqua is entering 2025 with a fortified
production system, enhanced operational protocols, and a commitment to
delivering premium quality salmon under its Nordic PureAtlantic brand

"We are pleased to announce that sale of Atlantic Salmon at our Ningbo facility
is back on track and stronger than ever. With comprehensive corrective actions
now in place, the Ningbo facility is fully optimized for sustainable, high
-quality salmon farming, and we are now ready to reengage with partners and
customers to launch our unique products. Handling the operational issues brought
challenges, but it also demonstrated the resilience of our team and the
robustness of our business model, and I am grateful for the confidence of our
stakeholders through the unscheduled transition period in 2024", commented CEO
Ragnar Joensen in Nordic Aqua.

The Chinese salmon market continues to show robust growth potential, driven by a
rising middle class and demand for premium, sustainably produced seafood. Nordic
Aqua's proximity to key urban markets gives the company access to more than 100
million consumers within a five-hour radius. Offering products of unparalleled
freshness, Nordic Aqua is well-positioned to capitalize on the rising demand for
fresh, local Atlantic salmon in China. The consumption growth  of fresh, whole
salmon in China in 2024 was and impressive 16%, the biggest growth in any of the
major markets for salmon in the world. By end of week 6 2025 the consumption of
fresh, whole salmon from Norway showed a further growth of 52%.

Construction for Stage 2 expansion is on track with the first harvest scheduled
for Q3 2026, paving the way to double production capacity to 8,000 tonnes, 5.3
kg salmon annually.  On this basis the current plan is to harvest 3,500 - 3,700
tonnes in 2025. This expansion, and the further growth to 20,000 tonnes
reinforces the company's commitment to long-term growth and market leadership.
Nordic Aqua's plans for 2025 include scaling production, strengthening market
penetration, and advancing our sustainability initiatives to secure long-term
shareholder value.

For further information please contact:

Ragnar Joensen, CEO

E-mail: ragnar@nordicaquapartners.com

Mobile: +298 599 112

Tom Johan Austrheim, CFO

E-mail: tom@nordicaquapartners.com

Mobile + 47 9820 9873

About Nordic Aqua Partners

Nordic Aqua Partners 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 Partners 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
tonnes HOG. Nordic Aqua Partners AS is listed at Euronext Growth under the
ticker NOAP.

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