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Phase 2 nearing completion with handover of four new tanks

Press Release

Phase 2 at Indre Harøy is in its final stretch. With the handover of four new tanks, eight tanks are now in operation at the facility. Two more will be taken into operation later this quarter, and the last two in the first quarter of 2027. The project remains on schedule.

The new tanks give us room to grow. Approximately 560,000 smolt are scheduled to be stocked over the coming weeks, which brings the total for 2026 at Indre Harøy to around 2.8 million. In 2025 the figure was around 1.7 million.

Our focus now is to deliver on the production targets for Phase 1 and Phase 2, and to turn higher volumes into lower costs per kilo. We expect to harvest 11,000–12,000 tonnes HOG (head-on gutted) in 2027. We are targeting run-rate farming EBITDA costs of NOK 60–65/kg by mid-2027.

When Phase 2 is complete, Indre Harøy will have an installed production capacity of 15,800 tonnes HOG a year. The site, infrastructure and licences we already have support expansion to around 36,000 tonnes HOG a year.

Attachments
Salmon Evolution ASA: Phase 2 nearing completion with handover of four new tanks

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 a leading land-based salmon farmer. Using the Hybrid Flow-Through System (HFS), the Company combines the advantages of conventional sea-based farming with the control and predictability of a land-based environment to extend the ocean potential.

Based at Indre Harøy on the west coast of Norway, Salmon Evolution is strategically positioned in the heart of the global salmon farming industry. Following completion of the Phase 2 grow-out section, the Company operates an industrial-scale production platform with 15,800 tonnes HOG of installed annual production capacity, while its existing site, infrastructure and licenses support expansion to approximately 36,000 tonnes HOG annually.

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