Norway Royal Salmon (NRS): Clarification on the production of triploid salmon

NRS was granted 9 green licences at the end of 2014. In retrospect, later 9 other licences owned by NRS was converted to green licences, giving NRS a total of 18 green licences. NRS's green licences have several conditions and contribute to develop the aquaculture industry towards a more sustainable production. One of the conditions was to produce sterile fish with triploid salmon.  In collaboration with the Institute of Marine Research and other professional institutions, NRS has for many years made a significant effort to develop and improve the production of triploid salmon. One of the experiences with triploid salmon is that it seems to be more exposed to bacterial and viral diseases. As a result, NRS has had a dialogue with the Ministry of Trade and Industry, where the Ministry has come to the conclusion that they adjust the condition of use of sterile fish until there is a decision of the authorities on whether triploid production is fish welfare sound or not. Until such a decision is made, the condition to use sterile fish must be met as far as this is permitted by the Norwegian Food Safety Authority. Except for this, diploid fish can be used in the production on the green licenses. The Norwegian Food Safety Authority has concluded that no triploid smolts shall pe put in the sea after the spring of 2022, and that all production of triploid salmon in the sea shall be completed by the end of 2023.  In the period up to the end of 2023, NRS will gradually reduce production of triploid salmon and replace this production with diploid salmon. The other conditions for the green licences continue to apply unchanged. There is still a strong environmental profile on the green licences, and consideration for fish welfare have made an adjustment necessary until a decision on fish welfare soundness has been made.

NRS is satisfied with the decisions of the Ministry of Trade and Industry and the Norwegian Food Safety Authority, and this clarification will give NRS predictability in planning of the future production.

For more information, please contact:

CEO Charles Høstlund, +47 994 18 449

CFO Ola Loe, +47 911 79 411

About Norway Royal Salmon:

The Norway Royal Salmon (NRS) group owns 36 085 tonnes MAB for salmon farming located in Troms and Finnmark, and 11 800 tonnes MAB for salmon farming and 5 300 MAB for trout farming on Iceland through the company Arctic Fish. In addition, the group has minority interest in two associated Norwegian fish farming companies which together own 9 fish farming licenses. NRS is an attractively positioned fish farming group, which offers salmon to the market through its own sales organisation. For further details, please visit www.norwayroyalsalmon.com.

This information is subject to the disclose requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act