Gigante Salmon AS: Publication of Q2 Report - First harvest completed

19 Aug 2025 07:00 CEST

Bodø, 19 August 2025

Gigante Salmon AS report for the second quarter 2025 is published today. From Q2
we report the following highlights:

• Two production basins already in operation (of a planned three)
• Generation winter 2024 harvested with 91% superior quality
• Board of directors re-elected on 21 May by the AGM
• New financing of NOK 50m loan from Gigante Havbruk AS

After the balance-sheet date:
• Generation autumn 2024 sorted and transferred to basin B from basin A
• Additional financing of up to NOK 100m will be established

"The facility is operating fully in line with our expectations: two of the
planned three production basins are now in use, and, in May, the trial
production was harvested. We are on the verge of completing an incredible
aquaculture facility", says CEO Kjell Lorentsen.

From the company’s trial production, the result is a total harvest volume of 694
tons HOG. The harvest fish had an average weight of 3.8 kg WFE, with 91%
superior quality. Feed conversion rate was 1,1, and the production cost 70
NOK/kg HOG.

The facility construction is in the final phase, with two out of three
production basins completed, on track for the planned ramp-up to full annual
capacity of approximately 16,000 tonnes HOG by 2028. The company plans to
release 2.2 million smolt during 2H2025.

In connection with the Q2 2025 Report, Gigante Salmon is pleased to invite you
to a management presentation today at 09:00 CET at Hotel Britannia, Trondheim.
The presentation will be held by CEO Kjell Lorentsen and CFO Rune Johansen. The
presentation can also be joined as a webcast, link:

https://gigantesalmon.no/investor-2/websendinger/#/gigante-salmon/4.quarterly-ea
rning-reports-2025/33e21dx9

The presentation will be held in Norwegian.

The full Q2 2025 report is attached to this stock exchange announcement, and
published on the company's website:
https://gigantesalmon.no/investor/rapporter-og-presentasjoner/

A recording of the webinar in Norwegian will be made available on the company’s
webpage.

For further information, please contact:

Kjell Lorentsen, CEO
Phone: +47 911 22 688
E-mail: kjell@gigante.no

Rune Johansen, CFO
Phone: +47 988 44 724
E-mail: rune@gigantesalmon.no

Gigante Salmon:
Gigante Salmon is a land-based salmon farming company with its first production
facility under construction on Lille Indre Rosøy in Rødøy, Norway. The Company’s
aquaculture concept is based on a flow-through system, combining the benefits of
conventional and land-based aquaculture while simultaneously eliminating issues
associated with conventional, sea based, farming. Visit www.gigantesalmon.no for
more information.

This information is subject to disclosure under the Norwegian Securities Trading
Act, §5-12.

More information:
Access the news on Oslo Bors NewsWeb site

653166_GIGA_Q2_2025_Report.pdf
653166_GIGA_Q2_2025_Presentation.pdf