Salmon Evolution ASA: Moving ahead with Indre Harøy phase 2

Reference is made to the stock exchange announcements by Salmon Evolution ASA ("Salmon Evolution" or the "Company") on 18 June 2024, regarding the successful private placement of approximately NOK 365 million and increase in bank facilities with NOK 675 million.

The Company has taken the final investment decision for Indre Harøy phase 2 and has accordingly signed an agreement with Artec Aqua and Hent, in which the phase 2 grow-out project moves into the construction phase. Mobilization will commence shortly, with planned construction start during Q3 2024. In parallel the Company is proceeding with the planning and engineering for the additional tank capacity. As previously communicated no final decisions or agreements are entered into for this part of the phase 2 project.

“We are now creating a foundation for substantial profitable growth, and with phase 2 in full operation we will have a strong cash-flow generating platform with significant annual investment capacity”, CEO of Salmon Evolution ASA, Trond Håkon Schaug-Pettersen said.

For further information, please contact:

Trond Håkon Schaug-Pettersen, CEO
thsp@salmone.no
+47 91 19 13 27

Trond Vadset Veibust, CFO
tvv@salmone.no
+47 48 09 05 95

About Salmon Evolution

Salmon Evolution is the global leader within land-based salmon farming with a clear roadmap for 100,000 tonnes HOG annual production capacity. Pioneering the hybrid flow-through system (HFS), Salmon Evolution is Extending the Ocean Potential by creating optimal growth conditions in a controlled environment on land. This approach, capturing the benefits of both land-based and sea-based farming, puts biology first and limits operational and biological risk.

Salmon Evolution is strategically located the heart of the global aquaculture industry on the west coast of Norway, where the Company has its first facility and global centre of excellence fully operational at industrial scale. Enabled by the proof of concept in Norway, Salmon Evolution targets significant international expansion.

Salmon Evolution is listed on Oslo Børs under the ticker SALME. To learn more, please visit www.salmonevolution.no