Gigante Salmon AS

Capital/Financing Update • Mar 25, 2025

Gigante Salmon: Completion of Production Basin 2

Gigante Salmon: Completion of Production Basin 2

Bodø, Norway, 25 March 2025

A new milestone has been reached with the completion of production basin no. 2 (out of a total of 3 basins). This is accordance with the previously communicated project plan.

Gigante Salmon AS therefore continues to follow the planned progression towards full production capacity from 2026, with a gradual ramp-up to an annual production of 16,000 tonnes HOG from 2028.

The company will start harvesting its pilot production during Q2 2025, expecting approximately 550 tonnes HOG.

For further 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

Gigante Salmon:

Gigante Salmon 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.