Gigante Salmon AS

Pre-Annual General Meeting Information • Nov 28, 2025

Gigante Salmon AS: Notice of extraordinary general meeting on 15 December 2025

Gigante Salmon AS: Notice of extraordinary general meeting on 15 December 2025

Bodø, Norway, 28 November 2025

Gigante Salmon AS (the "Company") hereby calls for an extraordinary general meeting to be held on 15 December 2025 at 09:00 at the offices of the Company in Sjøgata 21, 8006 Bodø.

The notice and agenda of the extraordinary general meeting will be sent electronic or by post to all shareholders with known address, and also enclosed and available at the Company homepage together with other relevant documents, https://gigantesalmon.no/.

Background for the notice:

Gigante Salmon AS refers to the quarterly report Q2 2025, published on August 19, 2025, where the Company informed about the intention to implement improvements in the facility based on experiences from the first production cycle, including adjustments that contribute to optimizing the conditions for the fish. The report also communicated that the Company would consider various options to strengthen the financial position by up to NOK 300 million, including a private placement, and that the main shareholder Gigante Havbruk AS has indicated support for a private placement of up to NOK 150 million.

The first generation provided a production cost (full cost) of NOK 70 per kilo HOG. The experience has strengthened the Company's belief in the business model, and the Company maintains its strategy with a focus on value creation and positive shareprice development for the benefit of shareholders. Gigante Salmon expects to have the entire production facility in full operation during the second quarter of 2026, in line with the Company's production plan.

The board has decided to initiate work on a private placement as the chosen financing method, with planned completion in Q1 2026. The private placement is planned with gross proceeds in the range of NOK 150–300 million. The company's main shareholder, Gigante Havbruk AS, has confirmed that they will participate with up to NOK 150 million in the private placement.

With reference to the quarterly report Q2 2025, the net proceeds will be used to support the next phase of the company's growth, including necessary and strategically beneficial improvements to the facility. The company also wants to use some of the proceeds for operating expenses and working capital, which makes the company more robust in order to withstand fluctuations in salmon prices and equip the company to optimize profitability.

In anticipation of the private placement, Gigante Havbruk AS will provide a loan of NOK 25 million to Gigante Salmon. With this financing and confirmed participation in the private placement, the company has secured progress to implement necessary measures.

The company will use the extraordinary general meeting scheduled for December to obtain the necessary power of attorney for the issuance of shares. This will give the board the flexibility to structure the private placement efficiently and facilitate a quick and seamless execution.

The board notes that at the annual general meeting on 21 May 2025, a power of attorney was granted to issue up to 17,126,359 shares. The board proposes that it be withdrawn, and a new power of attorney of up to 43,000,000 shares be granted.

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.

This information is subject to disclosure under the Norwegian Securities Trading Act, §5-12.