Proximar Seafood Production Update: Biomass at 1,933 tonnes and harvested 339 tonnes (HOG) in Q4 2025

07 Jan 2026 07:00 CET

Bergen/Yokohama, 7 January 2026: Proximar Seafood AS (“Proximar” or the
"Company") is announcing its tenth regular production update following the
initiation of production of Atlantic salmon in its Oyama facility in Japan in
October 2022.

As of 31 December 2025, the Company had a standing biomass of 1,933 metric
tonnes, up from 1,389 metric tonnes at the end of Q3 of 2025. Including the
harvested biomass in the quarter of 409 metric tonnes LW, gross biomass growth
was 953 tonnes. The survival rate in the quarter was 99.7% for the grow-out.

The December growth was impacted by ~3.5 days of zero feeding due to scheduled
regulatory maintenance of the electrical systems at the facility.

Proximar currently has 23 batches and approximately 2.2 million healthy salmon
in production.

During the quarter, the company harvested 339 tonnes (HOG), bringing the total
harvest for 2025 to approximately 1,338 tonnes HOG. Prior to some extra
harvesting more than initially scheduled of approx. 28 tonnes at the end of
December 2025, the standing biomass was 1,961 tonnes.

The average net sales price achieved in the fourth quarter was ~NOK 61 / kg. The
average price achievement continued to be impacted by a larger share of
below-market size fish of 3 kg.

However, ~NOK 104 / kg was achieved (net to Proximar) for the fish of 3 kg+,
which still shows a solid price premium compared to imported salmon from Norway
in the quarter. The average weight of the fish harvested was ~2.11 kg (HOG),
with 98% superior quality.

“We are pleased to see the positive development through the quarter with stable
performance and feeding levels now aligning with our production plan. We
continue our efforts to increase the harvest size and expect this to improve as
we move into 2026. The water quality remains good, and we see stable performance
also at higher densities which is encouraging,” says Joachim Nielsen, CEO of
Proximar.

Please see attached for further production details. The next update will come as
part of the Company’s Q4 2025 report, which will be released on 27 February
2026.

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

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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663179_Proximar Production Update Q4 2025_Final.pdf