1.10.2025 07:00:01 CEST | Andfjord Salmon | Non-regulatory press releases

Andfjord Salmon is pleased to announce the completion of a successful smolt
release at its land-based aquaculture facility at Kvalnes, Andøy, Norway. The
smolt release, 30. September 2025, initiates a significant scale-up of fish
farming operations at Kvalnes.

Approximately 350,000 smolt, at an average weight of around 180 grams, were
released into pool K0 at Kvalnes. The smolt release went as planned and the fish
have quickly adapted to their new surroundings.

The biological conditions in the pool are good, as anticipated. Stable pool
conditions support the smolt in settling.

"We have been looking forward to this day for quite some time. Our team of fish
farming experts is excited about starting a new period of fish farming
operations and eager to once again demonstrate the biological benefits of our
proprietary flow-through system. I am proud of how meticulously they have
planned and safely executed this smolt release," says Martin Rasmussen, CEO of
Andfjord Salmon. 

Further, Andfjord Salmon plans to release approximately 750,000 smolt in pool K1
late October this year.

"Today marks the beginning of a new chapter for Andfjord Salmon, with fish
farming operations once again taking centre stage. The current and upcoming
smolt releases represent the launch of a significant scale-up of salmon farming
activities at Kvalnes", adds Martin Rasmussen. 

Since its previous production cycle that ended in June 2023, Andfjord Salmon has
been working on developing new pools, a harbour area, and waterways that can
handle large-scale production at Kvalnes. The site infrastructure is designed to
support future production of approximately 48,100 tonnes (HOG + post-smolt) at
Kvalnes.

CONTACTS

 * Investors: Bjarne Martinsen, CFO, Andfjord Salmon Group AS, +47 975 08 345,
   bjarne.martinsen@andfjord.no 
 * Media: Martin Rasmussen, CEO, Andfjord Salmon Group AS, +47 975 08 665,
   martin@andfjord.no 

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord
Salmon is developing the world's most sustainable and fish-friendly aquaculture
facility of its kind. Through a proprietary flow-through system, Andfjord Salmon
combines the best from ocean and land-based salmon farming. In its first
production cycle, the company achieved an industry-leading survival rate of 97.5
percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and
required 1 kWh to produce one kilo of salmon. For more information, see 
www.andfjordsalmon.com - http://www.andfjordsalmon.com.