Proximar Seafood AS: New share capital registered

20 Oct 2025 22:12 CEST

Yokohama/Bergen, 20 October 2025: Reference is made to the Proximar Seafood AS
(the "Company") subordinated convertible bond loan with ISIN NO 0012733387
issued on 27 October 2022 (the "Bonds").

The Company has received conversion notices for a total of 198,440,000 bonds and
NOK 5,042,213 in accrued interest on the bonds, which pursuant to the bonds
terms are convertible into new shares in the Company at conversion price of NOK
1, resulting in a total of 203,482,213 new shares in the Company (the
"Conversion Shares"). Following the conversion, the Company has Bonds in issue
in the nominal amount of NOK 65,760,000, with an annual interest of 5.0% and
maturity 27 January 2027.

The share capital increases pertaining to the issuance of the Conversion Shares
have today been registered with the Norwegian Register of Business Enterprises
(Nw. Foretaksregisteret). The Company's registered share capital following the
share capital increases is NOK 52,337,227.30, divided into 523,372,273 shares,
each with a nominal value of NOK 0.10.

Certain primary insiders, and certain close associates of primary insiders, of
the Company have received Conversion Shares:

Orkan Konsult AS, a company closely associated with Kjell-Erik Østdahl,
Chairperson of the Board, has received 2,067,890 Conversion Shares.

Grieg Kapital AS, a company closely associated to Per Grieg Jr., Member of the
Board of Directors of the Company, has received 42,908,726 Conversion Shares.

Kvasshøgdi AS, a company closely associated to Per Grieg Jr., Member of the
Board of Directors of the Company, has received 15,509,178 Conversion Shares.

Joachim WG AS, a company closely associated to Per Greig Jr., Member of the
Board of Directors of the Company, has received 2,067,890 Conversion Shares.

For further information, please contact:
Joachim Nielsen, CEO, +47 92 85 55 59, jn@proximar.com
Ole Chr. Willumsen, CFO, +47 48 21 34 29, ocw@proximar.com

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.

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 carried out its
first harvest on 30 September 2024. Proximar’s brand and logo (Fuji Atlantic
Salmon) were officially launched in October 2024 at our partner Marubeni
Corporation’s head quarter in Tokyo. Through land-based salmon farming, using
high-quality groundwater secured close to Mount Fuji, the company produces 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:
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657530_Proximar Seafood AS - PDMR Appendix_20102025.pdf