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Salmon Evolution ASA: Q1 2024 Operational update

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Salmon Evolution ASA ("Salmon Evolution" or the "Company", OSE: SALME) starts 2024 with continued good operational performance and strong harvest results.

Highlights:

  • Total Q1 harvest volume of 901 tonnes HOG with an average weight of ~4.6 kg (LW) and a superior grade share of 96 %.
  • All-in price realization of NOK ~108/kg.
  • Stable operations in fully stocked farm with net biomass growth of ~1,560 tonnes LW, up 8% from Q4.
  • Record high standing biomass of almost 2,700 tonnes LW end of quarter.
  • Q2 harvest volumes expected in the range of 1,600 – 1,800 tonnes HOG.

“In the first quarter we had an industry leading superior grade share of 96%, continuing to demonstrate excellent fish welfare,” CEO of Salmon Evolution, Trond Håkon Schaug-Pettersen said.

“With Q2 harvest volumes expected to double from Q1, Salmon Evolution is uniquely positioned to capitalize on the current record high salmon prices”, he continued.

Please see attached presentation for more details.

The full Q1 2024 report will be released on Tuesday 7 May 2024 at 07:00 CET.

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

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