Gigante Salmon AS

Related Party Transaction • Jun 24, 2024

Gigante Salmon AS: Redelivery of borrowed shares to close associate of primary insider

Gigante Salmon AS: Redelivery of borrowed shares to close associate of primary insider

Bodø, 24 June 2024:

Reference is made to the stock exchange announcement by Gigante Salmon AS (the "Company") on 24 June 2024 regarding the registration of a share capital increase pertaining to the private placement of 34,615,384 new shares in the Company (the "Private Placement"), raising gross proceeds of NOK 225 million.

As further explained in the stock exchange announcement on 14 June 2024, Gigante Havbruk AS has agreed to lend a total of 14,615,384 existing and unencumbered shares in the Company, already being traded on Euronext Growth Oslo, to SpareBank 1 Markets AS (the "Manager") for the Private Placement to be used for settlement towards investors having been allocated shares in the Private Placement.

The offer shares were lent to the Manager on 14 June 2024. Following the registration of the share capital increase pertaining to the Private Placement, the Manager has redelivered a total of 14,615,384 shares to Gigante Havbruk AS.

Gigante Havbruk AS is a company closely associated with Kjell Lorentsen, CEO of the Company, and Kristian Lorentsen, board member of the Company. Primary insider notification pursuant to the Market Abuse Regulation article 19 is attached.

For more information, please contact:

Kjell Lorentsen, CEO

Phone: +47 911 22 688

E-mail: kjell@gigante.no

Rune Johansen, CFO

Phone: +47 988 44 724

E-mail: rune@gigantesalmon.no

This information is subject to the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 19 and the Norwegian Securities Trading Act section 5-12.

About Gigante Salmon AS:

Gigante Salmon AS is a land-based salmon farming company with its first production facility under construction on Lille Indre Rosøy in Rødøy, Norway. The Company’s aquaculture concept is based on a flow-through system, combining the benefits of conventional and land-based aquaculture while simultaneously eliminating issues associated with conventional, sea based, farming. Visit www.gigantesalmon.no for more information.