Salmon Evolution ASA — Earnings Release 2023

Aug 17, 2023

Salmon Evolution ASA: Results for the second quarter 2023

Salmon Evolution ASA: Results for the second quarter 2023

Highlights in the quarter:

· Biomass production is back on track - strong biological performance since

mid-May with good appetite and normal mortality levels.

· Q3 on track for all time high biomass production - standing biomass of 1,628

tonnes (LW) per 15 August.

· Batch 2 harvested in May yielding 585 tonnes HOG with 93 % superior share,

tight weight concentration and good price realization.

· Batch 6 and 7 stocked in end of May and end of June as planned.

· Favorable production cost development - further improvements expected

alongside increased production volumes.

· Contracts awarded for Indre Harøy phase 2.  Upon completion this adds

another 7.9kt HOG, bringing the total up to 15.8kt HOG per annum.

· Successful private placement in April raising gross proceeds of NOK 525

million.

· Available liquidity of NOK 853 million per 30 June 2023 including committed

undrawn credit facilities.

Results presentation:

CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust will present the

results for the second quarter at Hotel Continental in Oslo, Thursday 17 August

2023 08:00 CET.

Participants may also follow the presentation and submit questions through a

live webcast available on www.salmonevolution.no, or with the following link:

https://events.webcast.no/viewer-registration/cTIuV5my/register

The presentation and Q&A will be held in English.

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

-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Trond Håkon Schaug-Pettersen, CEO

thsp@salmone.no

+47 91 19 13 27

Trond Vadset Veibust, CFO

tvv@salmone.no

+47 48 09 05 95

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