Gigante Salmon AS

Earnings Release • Jan 8, 2026

Gigante Salmon AS: Operational update Q4

Gigante Salmon AS: Operational update Q4

Bodø, Norway, 8 January 2026

Gigante Salmon AS (the "Company") has successfully completed its first harvest from the Generation Autumn 2024. The result is a total harvest volume of 345 tonnes HOG. The harvested fish had an average weight of 3.0 kg HOG, with 94% superior share and an economic feed conversion rate of 1.04.

“We have reached an important milestone that confirms our land-based solution is performing as planned. With two basins in operation and the third coming online soon, we are well positioned to deliver on our ambitious growth targets and create value for our shareholders”, says CEO Kjell Lorentsen.

By the end of the fourth quarter, Gigante Salmon had accumulated a standing biomass of a total 3,000 tonnes. Generation Autumn 2024 accounts for 2,030 tonnes of the total biomass, with an average weight of 3.2 kg. Harvest for the rest of Generation Autumn 2024 is planned from Q1 2026 to Q2 2026.

Generation Autumn 2025 accounts for 970 tonnes of the total biomass, with an average weight of 0.4 kg, and is planned for harvest from Q4 2026 to Q2 2027. In total, the Company plans to release 3.3 million smolt during autumn 2026.

In connection with this operational update, the Company has prepared a Company Presentation dated 8 January 2026, which is attached hereto.

The full Q4 report will be available from 20 January 2026 at 07:00 CET on the Company’s webpage, www.gigantesalmon.no and Oslo Stock Exchange’s page, www.newsweb.no, followed by a management presentation in Norwegian at 09:15 CET. The presentation will be held at the premises of Oslo Børs and streamed digitally.

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

About Gigante Salmon AS

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.

Neither this announcement nor anything contained herein constitutes a financial promotion, or an invitation or inducement to acquire or sell securities in any jurisdiction. This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the company.

This announcement contains statements regarding the prospects and strategies of the company. These statements are sometimes identified by the use of the future or conditional tense, or by the use of forward-looking terms such as "considers", "envisages", "believes", "aims", "expects", "intends", "should", "anticipates", "estimates", "thinks", "wishes" and "might", or, if applicable, the negative form of such terms and similar expressions or similar terminology. Such information is not historical in nature and should not be interpreted as a guarantee of future performance. Such information is based on data, assumptions, and estimates that the company considers reasonable. Such information is subject to change or modification based on uncertainties in the economic, financial, competitive or regulatory environments. The company’s forward-looking statements speak only as of the date of this announcement. Absent any applicable legal or regulatory requirements, the company expressly disclaims any obligation to release any updates to any forward-looking statements contained in this announcement to reflect any change in its expectations or any change in events, conditions, or circumstances, on which any forward-looking statement contained in this announcement is based.

The Company operates in a competitive and rapidly evolving environment; it is therefore unable to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the occurrence of a risk or combination of risks could have significantly different results from those set out in any forward-looking statements, it being noted that such forward-looking statements do not constitute a guarantee of actual results.