Salmon Evolution ASA — Earnings Release 2024

Jan 9, 2025

Salmon Evolution ASA: Q4 2024 operational update

Salmon Evolution ASA: Q4 2024 operational update

Salmon Evolution (OSE: SALME) harvested 1,729 tonnes HOG in Q4, including 105

tonnes LW post smolt, taking full year harvest volume to 4,891 tonnes HOG

including post smolt. The quarter showed strong feeding and biomass gain,

especially in the second half of November and December.

Q4 operational summary:

* All-in price realization on harvested fish of NOK ~82/kg.

* Successful post smolt delivery.

* Total harvest of 1,729 tonnes HOG, including 105 tonnes LW post smolt.

* Average harvest weight of ~3.8 kg (HOG), up 15% from last quarter, with

continued excellent product quality and a superior grade share of 95%.

* Biomass production of 1,518 tonnes LW, second highest on record and up 11%

Q/Q.

* Standing biomass of 2,023 tonnes LW end Q4.

"Salmon Evolution achieved significant milestones in 2024 with solid growth in

harvest volumes and strong operational progress through the year", CEO of

Salmon Evolution, Trond Håkon Schaug-Pettersen said. "We are especially proud

of our excellent biological results, introducing a new standard of salmon

farming and giving us a great momentum going into 2025", he said.

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 the global leader within land-based salmon farming with a

clear roadmap for 100,000 tonnes HOG annual production capacity. Pioneering

the hybrid flow-through system (HFS), Salmon Evolution is Extending the Ocean

Potential by creating optimal growth conditions in a controlled environment on

land. This approach, capturing the benefits of both land-based and sea-based

farming, puts biology first and limits operational and biological risk.

Salmon Evolution is strategically located the heart of the global aquaculture

industry on the west coast of Norway, where the Company has its first facility

and global centre of excellence fully operational at industrial scale. Enabled

by the proof of concept in Norway, Salmon Evolution targets significant

international expansion.

Salmon Evolution is listed on Oslo Børs under the ticker SALME. To learn more,

please visit www.salmonevolution.no.