Gigante Salmon AS: Publication of Q3 Report

21 Oct 2025 07:00 CEST

Bodø, 21 October 2025

Gigante Salmon AS report for the third quarter 2025 is published today. From Q3
we report the following highlights:

• Concrete work in third and final production basin completed.
• Generation autumn 2024 sorted and transferred from production basin A to
production basin B.
• Smolt released into production basin A.
• SpareBank1 Nord-Norge approves NOK 100m in additional financing and increases
operating credit to NOK 140m from NOK 90m.

After the balance-sheet date:
• Start-up of next generation into production basin A proceeding according to
plan.

The company has accumulated a total standing biomass of 1,728 tonnes during the
third quarter. Generation autumn 2024 accounts for 1,510 tonnes of total
biomass, with an average weight of 2,000 grams.

Generation autumn 2025, which commenced smolt release in September 2025,
accounts for the remaining biomass, 218 tonnes, with an average weight of 150
grams. In total, it is planned to release just over 2.2 million smolt in autumn
2025.

In line with the production plan, no fish have been harvested in Q3. The next
harvest will begin towards the end of Q4 2025.

"We have been through another summer season without problems with sea lice. Fish
welfare is good, and the facility is now operating according to our
expectations. With two of the planned three production basins in use, we look
forward to starting the next harvest towards the end of fourth quarter", says
CEO Kjell Lorentsen.

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.

In connection with the Q3 2025 Report, Gigante Salmon is pleased to invite you
to a digital management presentation today at 09:00 CEST. The presentation will
be held by CEO Kjell Lorentsen and CFO Rune Johansen. Link to webcast:

https://gigantesalmon.no/investor-2/websendinger/#/gigante-salmon/4.quarterly-ea
rning-reports-2025/4e53thde

The presentation will be held in Norwegian.

The full Q3 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

657534_GIGA_2025_Q3_Report.pdf
657534_GIGA_Q3_2025_Presentation.pdf