Salmon Evolution ASA: Results for the fourth quarter 2023

Highlights:

• EBITDA breakeven in farming segment for the first time.
• Harvest volumes of 1,104 tonnes (HOG) in Q4, with an average weight of ~3.5 kg (HOG) and superior share of 90 %.
• Continued strong biological performance, with good appetite and low mortality across the farm. Standing biomass of more than 2,200 tonnes LW per 31 December 2023.
• All-time high biomass production in Q4 with 1,439 tonnes in net biomass growth.
• Q1 QTD volume of 457 tonnes (HOG) having harvested 2/4 groups. Average weight of ~3.9 kg (HOG) and superior share above 95 %.
• On track for farming costs on par with the conventional industry.
• Available liquidity of NOK 645 million per 31 December 2023 including committed available undrawn credit facilities.

"Q4 2023 marked a significant milestone for Salmon Evolution, having harvested over 1,100 tonnes HOG with good results and reaching break even EBITDA in the farming segment for the first time. Looking into 2024 we remain optimistic, and we are very satisfied with our harvest results year to date, showing increasing harvest weights, exceptionally high superior share and strong price realization”, CEO of Salmon Evolution, Trond Håkon Schaug-Pettersen said.

Results presentation:

CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust will present the results for Q4 2023 at Hotel Continental in Oslo, Tuesday 13 February 2024 08:00 CET.

Participants may also follow the presentation and submit questions through a live webcast available on www.salmonevolution.no, or with the following link: https://events.webcast.no/salmon-evolution/OEpmPDaoyhi5siPjdg0b/4XiwthqLH2GoUCaGlEfL

The presentation and Q&A will be held in English.

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

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