Salmon Evolution ASA: Mandatory notification of trade

19 April 2023: Reference is made to the stock exchange notice by Salmon Evolution ASA (the “Company”) on 19 April 2023 regarding the successfully placed private placement of 68,181,818 new shares in the Company with a subscription price of NOK 7.7 per share (the “Private Placement”).

The following primary insiders (PDMRs) in the Company and close associates of PDMRs were allocated shares in the Private Placement as follows:

• Anne Breiby, board member of the Company, was allocated 64,935 shares in the Private Placement;
• Anno Invest AS, a company closely associated with Odd Frode Roaldsnes, CCO of the Company, was allocated 250,000 shares in the Private Placement;
• Ocean Industries AS, a company closely associated with Glen Allan Bradley, board member of the Company, was allocated 25,974 shares in the Private Placement;
• Ronja Capital II AS, a company closely associated with Tore Tønseth, Chairperson of the board of the Company, was allocated 2,597,403 shares in the Private Placement; and
• Trollkyrkja AS, a company closely associated with Trond Vadset Veibust, CFO of the Company, was allocated 32,468 shares in the Private Placement.

In addition, Ronja Capital II AS has lent out 16,318,598 of its existing shares under a share lending agreement with DNB Markets, a part of DNB Bank ASA (on behalf of the Managers for the Private Placement) and the Company to facilitate DVP settlement of tranche 2 in the Private Placement.

PDMR notifications pursuant to the Market Abuse Regulation article 19 are attached.

For further information, please contact:

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

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 anannual 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 Regulation EU 596/2014 (MAR) article 19 number 3 and the Norwegian Securities Trading Act section 5-12.