Andfjord Salmon

Share Issue/Capital Change • May 30, 2024

Andfjord Salmon Group AS: New share capital registered

Andfjord Salmon Group AS: New share capital registered

30.5.2024 10:18:05 CEST | Andfjord Salmon | Total number of voting rights and

capital

Reference is made to the stock exchange announcement made by Andfjord Salmon

Group AS (the "Company") on 22 May 2024 regarding the successful private

placement (the "Private Placement") of 10,606,060 new shares in the Company,

raising gross proceeds of approximately NOK 350 million.

The share capital increase pertaining to the issuance of the 10,606,060 new

shares in the Private Placement has now been registered with the Norwegian

Register of Business Enterprises. The Company's new share capital is NOK

67,619,013 divided on 67,619,013 shares, each with a par value of NOK 1.

CONTACTS

* Investors: Bjarne Martinsen, CFO, Andfjord Salmon AS, +47 975 08 345,

bjarne.martinsen@andfjord.no

* Media: Martin Rasmussen, CEO, Andfjord Salmon AS, +47 975 08 665,

martin@andfjord.no

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord

Salmon is developing the world's most sustainable and fish-friendly aquaculture

facility of its kind. Through a proprietary flow-through system, Andfjord Salmon

combines the best from ocean and land-based salmon farming. In its first

production cycle, the company achieved an industry-leading survival rate of 97.5

percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and

required 1 kWh to produce one kilo of salmon. Andfjord Salmon has identified a

roadmap towards a production capacity of 40,000 tonnes HOG at Kvalnes, Andøya,

and set a long-term ambition to reach 90,000 tonnes HOG across Kvalnes, Breivika

and Fiskenes at Andøya. For more information, see www.andfjordsalmon.com -

http://www.andfjordsalmon.com/.