Salmon Evolution ASA — Share Issue/Capital Change 2022

Apr 12, 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 consists 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 remain subject to approval by the extraordinary general meeting in the

Company to be held on 2 May 2022.

The share capital increase related to Tranche 1 has now been registered with the

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

is NOK 16,749,793.15 divided into 334,995,863 shares, each with nominal value of

NOK 0.05.

For more information, please contact:

Håkon André Berg, CEO (+47 411 92 257)

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 securities referred to in this announcement have not been and will not be

registered under the U.S. Securities Act of 1933, as amended (the "U.S.

Securities Act"), and may not be offered or sold in the United States absent

registration or an exemption from, or in a transaction not subject to, the

registration requirements of the U.S. Securities Act and in accordance with

applicable U.S. state securities laws. The Company do not intend to register any

securities referred to herein in the United States or to conduct a public

offering of securities in the United States.

Matters discussed in this announcement may constitute forward-looking

statements. Forward-looking statements are statements that are not historical

facts and may be identified by words such as "believe", "aims", "expect",

"anticipate", "intends", "estimate", "will", "may", "continue", "should" and

similar expressions. The forward-looking statements in this release are based

upon various assumptions, many of which are based, in turn, upon further

assumptions. Although the Company believes that these assumptions were

reasonable when made, these assumptions are inherently subject to significant

known and unknown risks, uncertainties, contingencies, and other important

factors which are difficult or impossible to predict and are beyond its control.

Such risks, uncertainties, contingencies, and other important factors could

cause actual events to differ materially from the expectations expressed or

implied in this release by such forward-looking statements. Forward-looking

statements speak only as of the date they are made and cannot be relied upon as

a guide to future performance. The Company and its affiliates expressly

disclaims any obligation or undertaking to update, review or revise any forward

-looking statement contained in this announcement whether as a result of new

information, future developments or otherwise. The information, opinions and

forward-looking statements contained in this announcement speak only as at its

date and are subject to change without notice.

This announcement is for information purposes only. It does not purport to be

complete, and it is not to be relied upon in substitution for the exercise of

independent judgment. It is not intended as investment advice and under no

circumstances is it to be used or considered as an offer to sell, or a

solicitation of an offer to buy any securities or a recommendation to buy or

sell any securities of the Company. Neither the Managers nor any of their

respective affiliates accepts any liability arising from the use of this

announcement. The Company and the Managers, and their respective affiliates,

expressly disclaims any obligation or undertaking to update, review or revise

any statement contained in this announcement whether as a result of new

information, future developments or otherwise.

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.