Salmon Evolution ASA — Environmental & Social Information 2022

Mar 28, 2022

Salmon Evolution has successfully completed the first smolt release at Indre Harøy

Salmon Evolution has successfully completed the first smolt release at Indre Harøy

Salmon Evolution ASA ("Salmon Evolution" or the "Company", OSE: SALME) is

pleased to announce that it on 26 March 2022 successfully completed the first

smolt release at its ground-breaking land-based salmon farming facility at Indre

Harøy.

About 100,000 smolt was released with an average weight of around 300 grams. The

smolt was supplied by Kraft Laks, Salmon Evolution's in-house smolt facility

acquired in August 2021 and well known for its long track record in providing

first class smolt to Norwegian salmon farmers.

The smolt transportation from Kraft Laks to Indre Harøy was carried out with a

live fish carrier after which the fish was carefully pumped into the first fish

tank at Indre Harøy. All relevant fish health parameters were constantly

monitored during the process with no negative indicators identified.

Following the positive confirmation of the fish transfer process and a customary

short adaption period for the fish, initial feeding commenced. The Company is

pleased to see that the conditions in the farm have been stable, the fish have

shown good appetite and have had a behaviour in line with expectations.

This major milestone is the result of a thorough testing and commissioning phase

that started already in December last year and now culminating with having taken

the first part of our facility into operation.

Mr. Håkon André Berg, CEO of Salmon Evolution comments:

"Since we started construction back in May 2020, this is the moment that we all

have been waiting for. I am extremely proud of our organization and the fact

that we have been able to adhere to our ambitious timeline, even with the

challenges faced us during the pandemic.

At the same time, this is just the beginning. As we now move forward, our number

one priority is the biology in our farm. Good biology will improve fish quality

and translate into strong growth, which finally will be reflected in the

financial performance. With our organization now totalling more than 40 highly

skilled employees, I am more confident than ever in our mission - extending the

ocean potential."

Over the coming months Salmon Evolution will gradually ramp up production at

Indre Harøy with the next release of smolt planned already in May. Steady state

smolt release volumes are expected from Q4 2022, where at the same time both

completion of phase 1 and first harvest are expected.

Please click for video and pictures from this historic milestone: News -

salmonevolution.no (https://salmonevolution.no/news/)

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 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 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 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.

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

To learn more, please visit www.salmonevolution.no