Salmon Evolution continues the positive trend with stable operations, a fully stocked farm and record biomass production in Q3 2025. Revenues ended at 86.5 NOKm after harvesting 1,387 tonnes HOG. Results were impacted by weak salmon prices and temporary effects on farming costs, with Farming EBITDA ending at -30.6 NOKm and Group EBITDA at -40.5 NOKm.

“Phase 2 is on track, with testing and commissioning starting in less than 30 days,” said Trond Håkon Schaug-Pettersen, CEO of Salmon Evolution. “This is a complete gamechanger, and I am more confident than ever that Salmon Evolution will deliver strong value for our stakeholders and continue to lead the industry forward,” he said.

Highlights

– Indre Harøy phase 2 progressing according to plan, on track for first smolt release in Q1-26. Testing and commissioning starting in less than 30 days.

– Continuing the positive trend with stable operations and a fully stocked farm. Ending Q3 2025 with a standing biomass of 3,009 tonnes LW and all-time high biomass production.

– Revenues of 86.5 NOKm, farming EBITDA -30.6 NOKm and group EBITDA -40.5 NOKm. Results reflect weak salmon prices and temporary effects on farming costs.

– Harvest guidance of 7,000 tonnes HOG for 2026, up ~50 % compared to expected 2025 volumes. Salmon prices recovering through September with forward prices expectations significantly up during the quarter.

Results presentation

CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust will present the results for the third quarter 2025 at Hotel Continental in Oslo, Norway, Tuesday 11 November 2025 at 08:00 CET.

The presentation and Q&A will be held in English, and 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/73cSNzq6K5jNqbRARNdk

A recording of the webcast will be made available on our website shortly after the presentation.

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. 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 proof of concept at Indre Harøy, Salmon Evolution targets significant expansion.

Salmon Evolution is listed on Oslo Børs under the ticker SALME.