9 April 2026 - Artec Aqua Vaq AS ("Artec Aqua Vaq"), a wholly owned subsidiary
of Endúr ASA ("Endúr"), has signed an agreement to act as turnkey supplier for
Salfjord AS's ("Salfjord") planned land-based fish-farming facility at
Tjeldbergodden in Aure, Norway. 

The contract includes an initial collaboration phase to define the project's
scope of work and construction costs, after which the client will decide upon
making a final investment decision. 

Should Salfjord decide to progress with build-out of the facility, Artec Aqua
Vaq will deliver design, engineering, construction, and commissioning of the
complete facility, with sister company Total Betong AS ("Totalbetong") acting as
sub-contractor for the project's construction and civil works. The minimum total
contract value is currently estimated to NOK 700-800 million for the build-out
of the facility's first phase, but may be considerably larger, depending on the
production volume Salfjord decides upon during the collaboration phase. 

Artec Aqua Vaq will deliver its well-proven Artec Aqua hybrid technology system
to the land-based aquaculture facility. 

"We have the most extensive track record for designing, engineering and building
hybrid system facilities on land. Salfjord has informed us that this was a key
reason for choosing us as their turnkey supplier. We look forward to realizing
this very exciting land-based aquaculture project with support from Totalbetong,
making this a 100% Endúr-driven project", says Fredrik Langehaug, Managing
Director of Artec Aqua Vaq. 

Salfjord has been granted a license for land-based production of Atlantic
salmon, which allows for an annual production volume of 43 000 tonnes of live
salmon. or around 36,500 tonnes (HOG) fish for slaughter, as well as 30 million
smolt. Necessary electrical capacity is secured and transformation
construction/grid connection is ready from May 2028. Salfjord is also exploring
possibilities to combine the planned land-based aquaculture facility with other
industry projects, such as data centre operations, potentially creating a more
efficient energy consumption where the electrical energy is used twice.

Initiation of the first build-out phase is subject to Salfjord making a final
investment decision. 

To facilitate Salfjord's journey toward a final investment decision, and secure
Artec Aqua Vaq an important turnkey contract for the build-out of this first
phase in a major industry development project, Endúr has entered into an
investment agreement under which Endúr commits to offer investments up to NOK 40
million in the project. This commitment is conditional upon Salfjord securing
equity and loan financing and proceeding to the construction phase with Endúr
and its subsidiaries. Hence, the investment will be made available for the
project only provided a large turnkey contract is realized for Artec Aqua Vaq. 

"We will be the trusted partner of all parts of the build-out, through Artec
Aqua Vaq and Totalbetong, should the project progress after a final investment
decision. This is a major risk-reducing operational and commercial measure for
Endúr. Furthermore, the project also benefits from highly favourable
infrastructure and location advantages. In total, we consider this a wise
strategic move to potentially secure a substantial turnkey contract for our
subsidiaries, where we also position them to prove their ability for additional,
bigger, build-out phases at Tjeldbergodden", says Jeppe Raaholt, CEO of Endúr.

"We are very pleased to enter into an industrial partnership with the highly
experienced teams at Artec Aqua Vaq and Totalbetong. Their combined execution
capabilities and track-record in large scale industrial projects, provide a
strong platform for the Oceanfront farming development at Tjeldbergodden.", says
Hans Ramsvik, CEO of Salfjord. 

"The use of Artec Aqua Vaq's hybrid technology, combined with industrial
learnings, is a key element in our biology-first strategy, enabling high
operational robustness while safeguarding fish welfare across all phases of the
production, including post-smolt where the potential for contribution to
improved welfare and production efficiencies in the traditional open sea pen
offer industry cooperation opportunities", adds Robin Fladseth, COO of Salfjord.

Artec Aqua Vaq and Totalbetong will immediately commence the front-end
engineering design (FEED) of the first phase build-out, which is planned to be
completed by Q3 in 2026. Endúr will book order intake and backlog for the
turnkey contract once Salfjord makes its final investment decision for the first
phase build-out. 

(ENDS)

For further information, please contact:

Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759
Einar Olsen, CFO of Endúr, tel: +47 924 01 787
Fredrik Langehaug, Managing Director of Artec Aqua Vaq, tel: +47 900 50 833

About Endúr ASA:
Endúr ASA (XOSL: ENDUR) is a leading Scandinavian contractor headquartered in
Lysaker and listed on the Oslo Stock Exchange. The company specializes in
critical infrastructure, including bridges, quays, tunnels, and dams. Operating
as a disciplined serial acquirer (compounder), the group utilizes a
decentralized model that grants subsidiaries high autonomy to preserve their
technical expertise and local market positions. Endúr drives long-term value
through strategic platform acquisitions and targeted bolt-ons in fragmented
niche markets.

About Salfjord AS:
Salfjord AS, located in Aure, Norway, develops the world's most reliable
land-based salmon farming facilities providing healthy and responsibly raised
seafood through the Oceanfront farming concept. Through a biology-first
approach, proactive risk management and industrial scaling, Salfjord will ensure
the welfare of the fish is safeguarded at every production stage, meeting the
highest standards for animal care and operational efficiency.

The company's first Oceanfront farm, located at Tjeldbergodden, provides a
scalable foundation for further expansion at Salfjord II - Hyttneset, also in
Aure. Salfjord will, through the Oceanfront farming concept, leverage biological
performance and advanced technologies, combining salmon-farming and the process
industry's best practices to maximize fish welfare, minimize waste, optimize
resource utilization, and support long-term value generation. By integrating
responsible management and resource recovery, Salfjord aims to set new
benchmarks for sustainable aquaculture, positioning itself to drive stable
growth and enhanced investor confidence in a rapidly evolving sector.