Proximar Seafood refinances bank loans in Japan

29 Aug 2025 07:00 CEST

Bergen, Norway/Yokohama, Japan 29 August 2025

Proximar Seafood AS (“Proximar”), through its subsidiary Proximar Ltd. (Japan),
is pleased to announce that the agreement to refinance the outstanding
syndicated bank loan as communicated 9 July 2025, as well as another bank loan,
both with maturity 31 August 2025 is formally in place. The maturities of the
loans are extended by 12 months to 31 August 2026 at the same interest rate.

The two bank loans amount to JPY 9.1 billion, or approximately NOK 625 million,
including the syndicated bank loan from Mizuho Bank Ltd, The Shizuoka Bank and
Development Bank of Japan of JPY 8.8 billion (NOK 605 million).

In addition, there have been changes to other, smaller loans from Japanese banks
and financial institutions totaling JPY 1.0 billion (NOK 69 million), related to
amortizations, which now will commence after 31 August 2026.
With reference to the announcement 9 July 2025, the extension of the syndicated
bank loan is conditional upon successful completion of the upcoming rights
issue.

“The refinancing of our bank loans as well as changes to amortization schedules
for the smaller loans are important achievements for Proximar as part of the
financing plan to secure sufficient working capital. We are very pleased to see
the good support from our banks and financial partners in Japan and appreciate
their strong commitment”, says Joachim Nielsen, CEO of Proximar.

For further information, please contact:
Joachim Nielsen, CEO, +81 70 28 11 98 98, jn@proximar.com
Ole Chr. Willumsen, CFO, +47 48 21 34 29 ocw@proximar.com

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