Salmon Evolution ASA — Share Issue/Capital Change 2022

May 5, 2022

Salmon Evolution ASA: New share capital registered

Salmon Evolution ASA: New share capital registered

Reference is made to the stock exchange announcements by Salmon Evolution ASA

("Salmon Evolution" or the "Company") published on 5 April 2022 regarding the

successfully placed private placement of 33,333,333 new ordinary shares in the

Company, raising gross proceeds of approximately NOK 300 million (the "Private

Placement").

The Private Placement consisted of one tranche of 22,574,374 shares ("Tranche

1") and a second tranche of 10,758,959 shares ("Tranche 2"). The board of

directors resolved on 5 April 2022 to issue the shares allocated in Tranche 1

pursuant to an authorization granted to the board by the annual general meeting

in the Company held on 19 May 2021, while the issuance of the shares allocated

in Tranche 2 was subject to approval by an extraordinary general meeting (the

"EGM") in the Company.  The EGM was held on 2 May 2022 whereby the share capital

increase pertaining to Tranche 2 was approved.

The share capital increase related to Tranche 2 has now been registered with the

Norwegian Register of Business Enterprises. The new share capital of the Company

is NOK 17,287,741.10 divided into 345,754,822 shares, each with nominal value

NOK 0.05.

For more information, please contact:

Trond Håkon Schaug-Pettersen, CFO (+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

IMPORTANT NOTICE

Neither this announcement nor the information contained herein is for

publication, distribution or release, in whole or in part, directly or

indirectly, in or into or from the United States (including its territories and

possessions, any State of the United States and the District of Columbia),

Australia, Canada, Japan, Hong Kong, South Africa or any other jurisdiction

where to do so would constitute a violation of the relevant laws of such

jurisdiction. The publication, distribution or release of this announcement may

be restricted by law in certain jurisdictions and persons into whose possession

any document or other information referred to herein should inform themselves

about and observe any such restriction. Any failure to comply with these

restrictions may constitute a violation of the securities laws of any such

jurisdiction.

The distribution of this announcement and other information may be restricted by

law in certain jurisdictions. Persons into whose possession this announcement or

such other information should come are required to inform themselves about and

to observe any such restrictions.

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

-12 of the Norwegian Securities Trading Act.