Reference is made to the stock exchange announcement published by Salmon Evolution ASA (the "Company") on 19 April 2023 regarding the successful placing of a private placement of 68,181,818 shares at a subscription price of NOK 7.7 in the Company to raise gross proceeds of NOK 525 million (the "Private Placement").

The Private Placement consists of one tranche of 51,863,220 Offer Shares ("Tranche 1") and a second tranche of 16,318,598 Offer Shares ("Tranche 2"). New shares in Tranche 1 were issued on 20 April 2023 pursuant to the board authorization to issue new shares granted by the Company’s annual general meeting held on 14 June 2022. The issue of new shares in Tranche 2 was subject to approval by the Company’s extraordinary general meeting (the “EGM”).  

The EGM was held today and all resolutions on the agenda were approved, including the share capital increase pertaining to the issue of new shares in Tranche 2.

Minutes from the EGM are attached to this notice and will be made available on the Company's website: www.salmonevolution.no.

It is expected that the share capital increase relating to the issuance of the new shares in Tranche 2 will be registered with the Norwegian Register of Business Enterprises (the “NRBE") on or about 12 May 2023, and where the new shares shall be re-delivered to Ronja Capital II AS as share-lender in relation to Tranche 2.

Following registration with the NRBE, the issued share capital of the Company is expected to be NOK 20,696,832 comprising 413,936,640 shares, each with a nominal value of NOK 0.05.

The Company has appointed DNB Markets, a part of DNB Bank ASA, and Nordea Bank Abp. filial i Norge as Joint Global Coordinators and Joint Bookrunners, and Arctic Securities AS and Pareto Securities AS as Joint Bookrunners. Advokatfirmaet BAHR AS is acting as legal advisor to the Company.

ABOUT

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.

CONTACT

For more information, please contact:

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