Andfjord Salmon

ANDFJORD SALMON GROUP AS - SUCCESSFUL BOND ISSUE

11.6.2025 20:08:14 CEST | Andfjord Salmon | Additional regulated information

required to be disclosed under the laws of a member state

With reference to announcement on 28 May 2025, Andfjord Salmon Group AS ("

Andfjord Salmon" or the "Company") has successfully completed a new three-year

senior secured bond issue of NOK 750 million. The bond has a margin of 950bps

and was issued at a price of 98% of nominal value. The net proceeds from the

bond issue will be applied towards investments and associated working capital

related to the Company's expansion of the Kvalnes site. Arctic Securities acted

as Sole Global Coordinator and Joint Bookrunner, and Nordea and SpareBank 1

Markets acted as Joint Bookrunners on the bond issue.

"The bond issue allows Andfjord Salmon to scale its salmon farming operation to

an estimated 17,000 tons of annual production, commencing in September 2025.

With solid value backing and a strong outlook to cash generation, we are pleased

to see that the Company has generated substantial investor interest across debt

and equity products. We are highly grateful for the trust placed in us by the

capital markets, and are committed to delivering value to all stakeholders with

production now set to recommence after a two-year construction period", says

Martin Rasmussen, CEO of Andfjord Salmon.

An application will be made for the bonds to be listed on Oslo Stock Exchange

and the Frankfurt Open Market.

CONTACTS

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

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

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.

For more information, see www.andfjordsalmon.com -

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