Salmon Evolution ASA — Major Shareholding Notification 2023

May 12, 2023

Salmon Evolution ASA: Mandatory notification of trade and notification of major holdings

Salmon Evolution ASA: Mandatory notification of trade and notification of major holdings

Reference is made to the stock exchange announcement on 19 April 2023 by Salmon

Evolution ASA ("Salmon Evolution" or the "Company") where it was notified that,

inter alia, Ronja Capital II AS ("Ronja") had lent out 16,318,598 of its

existing shares under a share lending agreement between DNB Markets, a part of

DNB Bank ASA (on behalf of the Managers for the Private Placement), Ronja, and

the Company to facilitate DVP settlement of tranche 2 in the Private Placement.

These shares were redelivered to Ronja today. Ronja now has a shareholding of

29,990,645 shares and votes in the Company, equaling 7.25% of the currently

issued 413,936,640 shares and votes in the Company. This represents an increase

from 3.2% prior to redelivery, and Ronja thereby passes the 5% threshold in the

Norwegian Securities Trading Act section 4-2.

Please find attached Primary insider notifications pursuant to the Market Abuse

Regulation article 19.

This information is subject to the disclosure requirements pursuant to sections

4-2 and 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Trond Håkon Schaug-Pettersen, CEO: +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.