Salmon Evolution ASA — Board/Management Information 2022

Oct 25, 2022

Salmon Evolution ASA - Håkon André Berg steps down as CEO

Salmon Evolution ASA - Håkon André Berg steps down as CEO

Håkon André Berg, CEO of Salmon Evolution ASA, has resigned from his position as

CEO. The board of directors has acknowledged Mr. Berg's decision and appointed

CFO Trond Håkon Schaug-Pettersen as interim CEO with immediate effect. Håkon

André Berg will be available for the company during a transition period and the

board of directors will promptly start the process of recruiting a permanent

replacement.

Håkon André Berg says: "It's been a real pleasure leading Salmon Evolution

through this very exciting period of time, where we have gone from being a small

start-up to a large company with about 60 employees and a global presence. I

firmly believe that the company is in a unique position and it has not been an

easy decision to make. However, due to certain personal family matters, I have

come to the conclusion that stepping down from my position as CEO is the best

solution for both my family and the company."

The company's nomination committee has been informed about the decision and

after careful considerations, the nomination committee has proposed that Håkon

André Berg is elected as board member in Salmon Evolution which he has accepted.

Accordingly, the company will shortly call for an extra ordinary general meeting

to facilitate this.

"The board of directors regrets that Håkon André Berg has asked for relief from

his position as CEO. After joining the company in 2019, he has been instrumental

in establishing Salmon Evolution as the global frontrunner within land-based

salmon farming.  We do however appreciate that Håkon has accepted to join the

company's board of directors subject to the general meeting's decision. At the

same time the board of directors is pleased to have secured continuity with the

appointing of Trond Håkon Schaug-Pettersen as interim CEO, whom together with

the rest of the management team and the entire organization, ensures that the

company is very well equipped to deliver on both our strategy as well as our

upcoming milestones", said Tore Tønseth, Chairman of Salmon Evolution."

Mr. Schaug-Pettersen was appointed the CFO of Salmon Evolution in October 2020,

has been an important part of Salmon Evolution's leadership team and brought

extensive experience from both the salmon industry and the capital market. Prior

to joining Salmon Evolution, he served over 4 years as Senior Vice President

Finance and Business Development at salmon farmer and processor Hofseth

International and, prior to that, nine years as an investment banker at

Swedbank/First Securities.

"Salmon Evolution is an amazing company with highly skilled employees and a

unique company culture. We have some very exciting months ahead with our first

harvest coming up shortly and where we will finally have our proof of concept

demonstrated. On that basis Salmon Evolution will have an unparalleled platform

to expand our operations, both in Norway and abroad", said Trond Håkon Schaug

-Pettersen, the new interim CEO and CFO of Salmon Evolution.

The company's production ramp-up is proceeding according to plan as stated in

the Operational Update on 3 October 2022 and the company expects to start

harvesting of batch 1 in early November.

For further information, please contact:

Tore Tønseth

Chairman, Salmon Evolution

+47 958 06 277

Trond Håkon Schaug-Pettersen

Interim CEO and CFO, Salmon Evolution

+47 911 91 327

About Salmon Evolution

Salmon Evolution is a Norwegian land-based salmon farming company targeting a

production capacity of 100,000 tonnes HOG by 2032. The Company's core focus is

on extending the ocean's potential by transferring the best preconditions

offered by the sea to farm fish on land through its chosen hybrid flow-through

system technology (HFS). This secures a truly sustainable production process

with controlled and optimal growth conditions and limiting operational and

biological risk.

The Company's first production facility is strategically located at Indre Harøy

on the Norwegian west coast with unlimited access to fresh seawater, renewable

energy, established infrastructure, and an educated and experienced work force.

Phase 1 is already in operation and will have an annual capacity of 7,900 tonnes

HOG at steady state. Fully developed, the Indre Harøy facility will have an

annual capacity of 31,500 tonnes HOG.

The Company has also entered into a joint venture with Dongwon Industries where

the parties will develop, construct and operate a land-based salmon farming

facility in South Korea with an annual production capacity of 16,800 tonnes HOG,

using Salmon Evolution's chosen HFS technology.

Furthermore, Salmon Evolution has initiated a process with the aim of

establishing a land-based salmon farming operation in North America.

Salmon Evolution ASA is listed on Oslo Børs under the ticker SALME.

To learn more, please visit www.salmonevolution.no

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.