Salmon Evolution ASA (OSE: SALME): Update on partnership model in Korea

13 Jan 2026 06:30 CET

Salmon Evolution ASA ("Salmon Evolution" or the "Company") is pleased to
provide an update on the partnership with Dongwon Industries in Korea. The
parties have agreed to replace the existing joint venture agreement with a
technical advisory agreement, upon which Salmon Evolution will provide
technical advisory services on market terms. This positions Dongwon Industries
to advance the project on its own terms, with full responsibility for project
financing.

Key highlights of the updated partnership model:

* Salmon Evolution will provide technical advisory services on market terms,
including provisions for potentially significant royalty payments linked to
certain operational milestones.
* Salmon Evolution have no further investment commitments under the new
agreement.
* Salmon Evolution remains a minority shareholder and key contributor in the
project, although its current 49% ownership is expected to be diluted over
time.
* Salmon Evolution retains a five-year purchase option for up to 33% ownership
in the project at market terms.

This updated structure reflects Salmon Evolution's strategic priorities in the
near to medium term, hereunder continued focus on operational excellence and
phase 2 project execution at Indre Harøy, while at the same time leveraging
the significant human capital built up in recent years.

The new model also underscores Salmon Evolution's commitment to capital
discipline with phase 3 at Indre Harøy remaining the highest priority when it
comes to capital allocation on growth projects.

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.
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 proof of concept at Indre Harøy, Salmon Evolution targets significant
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

663495_Salmon Evolution ASA (OSE- SALME)- Update on partnership model in Korea.pdf