Proximar Seafood - Adjustment of conversion price for the convertible bond

08 Feb 2024 07:52 CET

Bergen, 8 February 2024: Reference is made to the Proximar Seafood AS (the
"Company") convertible bond with ISIN NO0012733387 (the "Bonds") issued on 25
October 2022.

As a consequence of the subsequent offering carried out in relation to the
private placement approved by the general assembly on January 3 2024, the
Company has received notice from Nordic Trustee AS, in the capacity as Bond
Trustee for the convertible bonds, that the conversion price of the Bonds has
been adjusted according to the Bond Terms Clause 13.1, from NOK 4.1757 to NOK
4.0727. Please see the attachment for details.

For more information, please contact:
Ole Chr. Willumsen, CFO, +47 48 21 34 29, ocw@proximar.com

About Proximar Seafood
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility and production at the foot of Mount Fuji in Japan. The
company inserted its first batch of eggs in October 2022 and plans first harvest
in Q3 2024. Through land-based salmon farming, using high-quality ground water
secured close to Mount Fuji, the company will produce fresh Atlantic Salmon,
harvested the same day. Proximar's location, near one of the world's most
important fish markets, implies significant advantages, both in terms of reduced
cost and carbon footprint.

More information:
Access the news on Oslo Bors NewsWeb site

610163_Updated conversion price_Norsk Tillitsmann_20240208.pdf