Salmon Evolution ASA: Ready for the next chapter

06 May 2026 06:30 CEST

Following initiation of operations in phase 2 with first smolt release
completed, and a successful equity raise and refinancing providing a solid
capital structure going forward, Salmon Evolution (OSE: SALME) is ready for
the next chapter.

Salmon Evolution is at a genuine inflection point. At the core is a proven
platform where the heavy lifting is done. Over the next 12 months production
volumes are expected to more than double, driven by improved productivity in
Phase 1 and the ramp up of Phase 2. This marks the transition from a period
dominated by investments to harvesting the full value of the platform

"I am incredibly proud of the collective effort that has brought Salmon
Evolution to where we are today. This milestone would not have been possible
without the dedication and hard work of our entire organization", Trond Håkon
Schaug-Pettersen, CEO of Salmon Evolution said. "With phase 2 operational and
a solid capital structure in place, we are ready for the next chapter", he
said.

Highlights:

* Indre Harøy phase 2 taken into operation with first smolt release
completed. On track for subsequent milestones.
* Significant step-change in growth following implementation of new feed and
changes to operational protocols during Q1, reinforcing confidence in the
stated operational targets for the coming periods.
* Revenues of 152.2 NOKm, farming EBITDA 17.6 NOKm and group EBITDA 9.5 NOKm
in Q1.
* Solid capital structure in place following completion of refinancing and
private placement in April - existing long-term debt facilities increased by
250 NOKm and private placement raising gross proceeds of 411.3 NOKm.

Results presentation:
CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust will present the
results for the first quarter 2026 at Hotel Continental in Oslo, Norway,
Wednesday 6 May at 08:00 CET.

The presentation and Q&A will be held in English, and participants may also
follow the presentation and submit questions through a live webcast available
on www.salmonevolution.no or with the following link:
https://events.webcast.no/salmon-evolution/OEpmPDaoyhi5siPjdg0b/tRV9xE9OMGn8WpV3
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(https://eur04.safelinks.protection.outlook.com/?url=https%3A%2F%2Fevents.webcas
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A recording of the webcast will be made available on our website after the
presentation.

Find the report by using the following link:
https://salmonevolution.wrep.it/q1-2026 or see attached PDF.

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.

This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-05-06 06:30 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

672440_SALME Q1 2026 Presentation.pdf
672440_SALME Q1 2026 Report.pdf