Salmon Evolution ASA: Strengthening financial flexibility with new loan facilities

12 Jun 2025 07:00 CEST

Salmon Evolution ASA (the "Company", OSE: SALME) has entered a credit facility
of up to NOK 250 million with DNB Bank ASA and Nordea Bank Abp, Norwegian
branch. The new facility is based on customary market terms and has a tenor of
12 months with an option to extend another 6 months, subject to lenders'
consent. The new loan facility has obtained relevant credit committee
approvals and is subject to customary closing conditions, including final
documentation. Additionally, the Company has entered into an agreement to
increase its current overdraft facility with Nordea Bank Abp, Norwegian
branch, from NOK 150 million to NOK 200 million.

The purpose of the new facility is to strengthen the Company's financial
flexibility in light of a softer than expected salmon market over the last 12
months. A portion of the new facility is dedicated to the planned pre-grow-out
department at Indre Harøy. As reported in the Q1 2025 presentation the Indre
Harøy phase 2 construction project is progressing according to plan.

Pursuant to the Company's existing loan facilities, the Company is subject to
various financial covenants. Reflecting, as mentioned, the softer than
expected salmon market, the Company has also agreed with its lenders to amend
the EBITDA covenant requirements through 2025.

This information is considered to constitute inside information pursuant to
the EU Market Abuse Regulation article 7 and is subject to the disclosure
requirements pursuant to MAR article 17 and Section 5-12 the Norwegian
Securities Trading Act. This stock exchange announcement was published by
Trond Vadset Veibust, CFO, Salmon Evolution ASA, on 12 June 2025 at
07:00 CEST.

For further information, please contact:
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.
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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