Salmon Evolution ASA — Regulatory Filings 2022

Sep 28, 2022

Proposal for resource tax on salmon farming in Norway

Proposal for resource tax on salmon farming in Norway

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

the press release on 28 September 2022 from the Norwegian government regarding

the proposal to introduce a resource tax on salmon and trout farming with effect

from the tax year 2023.

After carefully studying the proposal and consulting with our legal advisors, it

is clear that the proposal for the new resource tax will only - if implemented -

be imposed upon salmon farmers holding commercial licenses in sea water. As our

license is assigned for land-based salmon farming, Salmon Evolution will not be

impacted by the proposal which is sent out for consultation.

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 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, the 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