Proximar Seafood AS: An additional JPY 1 billion (approx. NOK 75 million) in bank loan facilities signed

17 Sep 2024 10:15 CEST

Yokohama, Japan / Bergen, Norway 17 September 2024.

With reference to the published Q2-presentation on August 23, Proximar is
pleased to announce that it has today signed two new loan agreements with
Japanese banks securing JPY 1 billion (approx. NOK 75 million) in additional
funds. The funds are to be used for working capital purposes and buffer
liquidity as Proximar is now approaching sales.

The loans are second lien, provided at attractive terms, and have 3 years until
maturity. The loans are provided by two separate banks, of which one loan of JPY
500 million will be paid out on 20 September. The second loan of JPY 500 million
is a credit facility which will be available by the end of September.

Furthermore, Proximar confirms that first harvest will take place on 30
September. This will be a trial-harvest before initiating daily harvesting in
the fourth quarter.

For more information, please contact:
Joachim Nielsen, CEO, +81 70 2811 9898, jn@proximar.com
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 its first
harvest on 30 September 2024. Through land-based salmon farming, using
high-quality groundwater 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.

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