Salmon Evolution ASA: Granting of share options and strike price for tranche 3 share options under the Company’s long term incentive program for executive management

Reference is made to the stock exchange announcement on 27 August 2021 regarding the establishment of a long-term incentive program for executive management in Salmon Evolution ASA ("Salmon Evolution" or the "Company") and additional grant announcements on 22 November 2021 and 10 January 2023. 

Under this program each Henriette Nordstrand and Tore-Jakob Reite has been granted 125,000 share options each with issue date 1 June 2023 (“Tranche 3” of the program). Following the grant, Henriette Nordstrand (directly or indirectly through her fully owned company Heno Holding AS) holds a total of 125,000 share options and 16,144 shares in the Company, and Tore-Jakob Reite holds a total of 125,000 share options and 1,250 shares in the Company. 

Under the program a total of 8,600,000 share options have been granted, of which 2,500,000 are forfeited. Following the grants described above, the total number of outstanding options under this program is now 6,100,000. 

In accordance with the program as well as previous and above-mentioned grants, “Tranche 3” of the program contains a total of 2,500,000 share options which today have been issued with a strike price equal of NOK 8.30 per share, reflecting the closing price of the Company’s shares on Oslo Børs on 31 May 2022 +15 %. The strike price applies to the following options granted to the relevant primary insiders: 

• Trond Håkon Schaug-Pettersen (CEO): 1,000,000 options. 

• Trond Vadset Veibust (CFO): 500,000 options. 

• Ingjarl Skarvøy (COO): 250,000 options. 

• Kamilla Mordal Holo (CPO): 250,000 options. 

• Odd Frode Roaldsnes (CCO): 250,000 options. 

• Henriette Nordstrand (Technical director): 125,000 options. 

• Tore-Jakob Reite (Director strategic projects): 125,000 options. 

See above-mentioned announcements and the Company’s annual report for 2022 for further information about the incentive program. 

Primary insider notifications relating to the grants taking place on 1 June 2023 are attached pursuant to the market abuse regulation article 19. 

For further information, please contact: 

Trond Håkon Schaug-Pettersen  
CEO, Salmon Evolution  
+47 911 91 327  

Trond Vadset Veibust 
CFO, Salmon Evolution 
+47 480 90 595

About Salmon Evolution 

Salmon Evolution is a Norwegian land-based salmon farming company targeting a production capacity of 100,000 tonnes HOG by 2032. The Company’s core focus is on extending the ocean’s potential by transferring the best preconditions offered by the sea to farm fish on land through its chosen hybrid flow-through system technology (HFS). This secures a truly sustainable production process with controlled and optimal growth conditions and limiting operational and biological risk.   

The Company’s first production facility is strategically located at Indre Harøy on the Norwegian west coast with unlimited access to fresh seawater, renewable energy, established infrastructure, and an educated and experienced work force. Phase 1 is already in operation and will have an annual capacity of 7,900 tonnes HOG at steady state. Fully developed, the Indre Harøy facility will have an annual capacity of 31,500 tonnes HOG. 

The Company has also entered into a joint venture with Dongwon Industries where the parties will develop, construct and operate a land-based salmon farming facility in South Korea with an annual production capacity of 16,800 tonnes HOG, using Salmon Evolution’s chosen HFS technology.  

Furthermore, Salmon Evolution has initiated a process with the aim of establishing a land-based salmon farming operation in North America. 

Salmon Evolution ASA is listed on Oslo Børs under the ticker SALME. 

To learn more, please visit www.salmonevolution.no 

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