Regulatory press release

Salmon Evolution ASA: Ready for the next chapter

Following initiation of operations in phase 2 with first smolt release completed, and a successful equity raise and refinancing providing a solid capital structure going forward, Salmon Evolution (OSE: SALME) is ready for the next chapter.

Salmon Evolution is at a genuine inflection point. At the core is a proven platform where the heavy lifting is done. Over the next 12 months production volumes are expected to more than double, driven by improved productivity in Phase 1 and the ramp‑up of Phase 2. This marks the transition from a period dominated by investments to harvesting the full value of the platform

“I am incredibly proud of the collective effort that has brought Salmon Evolution to where we are today. This milestone would not have been possible without the dedication and hard work of our entire organization”, Trond Håkon Schaug-Pettersen, CEO of Salmon Evolution said. “With phase 2 operational and a solid capital structure in place, we are ready for the next chapter”, he said.

Highlights:

Indre Harøy phase 2 taken into operation with first smolt release completed. On track for subsequent milestones.
Significant step-change in growth following implementation of new feed and changes to operational protocols during Q1, reinforcing confidence in the stated operational targets for the coming periods.
Revenues of 152.2 NOKm, farming EBITDA 17.6 NOKm and group EBITDA 9.5 NOKm in Q1.
Solid capital structure in place following completion of refinancing and private placement in April - existing long-term debt facilities increased by 250 NOKm and private placement raising gross proceeds of 411.3 NOKm.

Results presentation:
CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust will present the results for the first quarter 2026 at Hotel Continental in Oslo, Norway, Wednesday 6 May at 08:00 CET.

The presentation and Q&A will be held in English, and participants may also follow the presentation and submit questions through a live webcast available on www.salmonevolution.no or with the following link: https://events.webcast.no/salmon-evolution/OEpmPDaoyhi5siPjdg0b/tRV9xE9OMGn8WpV3qhJw

A recording of the webcast will be made available on our website after the presentation.

Find the report by using the following link: https://salmonevolution.wrep.it/q1-2026 or see attached PDF.

About Salmon Evolution
Salmon Evolution is the global leader within land-based salmon farming. Pioneering the hybrid flow-through system (HFS), Salmon Evolution is Extending the Ocean Potential by creating optimal growth conditions in a controlled environment on land. This approach, capturing the benefits of both land-based and sea-based farming, puts biology first and limits operational and biological risk.

Salmon Evolution is strategically located the heart of the global aquaculture industry on the west coast of Norway, where the Company has its first facility and global centre of excellence fully operational at industrial scale. Enabled by proof of concept at Indre Harøy, Salmon Evolution targets significant expansion.

Salmon Evolution is listed on Oslo Børs under the ticker SALME. To learn more, please visit www.salmonevolution.no.