Salmon Evolution ASA — Capital/Financing Update 2021

Apr 26, 2021

Salmon Evolution Holding ASA: Cancellation of subsequent offering

Salmon Evolution Holding ASA: Cancellation of subsequent offering

Reference is made to the stock exchange notice from Salmon Evolution Holding ASA

(the "Company" or "Salmon Evolution", OSE ticker code "SALME") on 11 March 2021

regarding the successful completion of the NOK 500 million private placement at

a price of NOK 6.0 per share (the "Private Placement") and a conditional

subsequent offering of up to 8,333,333 new shares in the Company (the

"Subsequent Offering").

As announced in the stock exchange notice, completion of the Subsequent Offering

is subject, inter alia, to the prevailing market price of the share. Following

the Board of Directors' conditional resolution to carry out a subsequent

offering, the price of the share has, for an extended period and with

substantial volume, traded below the subscription price in the planned

Subsequent Offering.

Existing shareholders wanting to avoid or reduce the dilutive effect of the

Private Placement have had the opportunity to purchase shares in the open market

at prices below the subscription price in the Private Placement and the

contemplated Subsequent Offering.

The Company has therefore resolved to cancel the Subsequent Offering.

For further information, contact:

Håkon A. Berg

CEO, Salmon Evolution

+47 411 92 257

Trond Håkon Schaug-Pettersen

CFO, Salmon Evolution

+47 911 91 327

About Salmon Evolution

Salmon Evolution is a Norwegian land-based salmon farming company focused on

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

by the sea to farm fish on land through its 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 under construction at Indre Harøy,

strategically located on the Norwegian west coast with unlimited access to fresh

seawater, renewable energy, established infrastructure for salmon farming, and

an educated and experienced work force. The entire project is designed for an

annual capacity of approx. 31,500 tonnes HOG.

The Company has also entered 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 HFS technology.

Salmon Evolution Holding ASA is listed at Euronext Growth under the ticker

SALME.

To learn more, please visit www.salmonevolution.no.