Bodø, Norway, 28 November 2025

Gigante Salmon AS (the "Company") hereby calls for an extraordinary general
meeting to be held on 15 December 2025 at 09:00 at the offices of the Company in
Sjøgata 21, 8006 Bodø.

The notice and agenda of the extraordinary general meeting will be sent
electronic or by post to all shareholders with known address, and also enclosed
and available at the Company homepage together with other relevant documents,
https://gigantesalmon.no/. 

Background for the notice:
Gigante Salmon AS refers to the quarterly report Q2 2025, published on August
19, 2025, where the Company informed about the intention to implement
improvements in the facility based on experiences from the first production
cycle, including adjustments that contribute to optimizing the conditions for
the fish. The report also communicated that the Company would consider various
options to strengthen the financial position by up to NOK 300 million, including
a private placement, and that the main shareholder Gigante Havbruk AS has
indicated support for a private placement of up to NOK 150 million.

The first generation provided a production cost (full cost) of NOK 70 per kilo
HOG. The experience has strengthened the Company's belief in the business model,
and the Company maintains its strategy with a focus on value creation and
positive shareprice development for the benefit of shareholders. Gigante Salmon
expects to have the entire production facility in full operation during the
second quarter of 2026, in line with the Company's production plan.

The board has decided to initiate work on a private placement as the chosen
financing method, with planned completion in Q1 2026. The private placement is
planned with gross proceeds in the range of NOK 150-300 million. The company's
main shareholder, Gigante Havbruk AS, has confirmed that they will participate
with up to NOK 150 million in the private placement.

With reference to the quarterly report Q2 2025, the net proceeds will be used to
support the next phase of the company's growth, including necessary and
strategically beneficial improvements to the facility. The company also wants to
use some of the proceeds for operating expenses and working capital, which makes
the company more robust in order to withstand fluctuations in salmon prices and
equip the company to optimize profitability.

In anticipation of the private placement, Gigante Havbruk AS will provide a loan
of NOK 25 million to Gigante Salmon. With this financing and confirmed
participation in the private placement, the company has secured progress to
implement necessary measures.

The company will use the extraordinary general meeting scheduled for December to
obtain the necessary power of attorney for the issuance of shares. This will
give the board the flexibility to structure the private placement efficiently
and facilitate a quick and seamless execution.

The board notes that at the annual general meeting on 21 May 2025, a power of
attorney was granted to issue up to 17,126,359 shares. The board proposes that
it be withdrawn, and a new power of attorney of up to 43,000,000 shares be
granted.

For further information, please contact:

Kjell Lorentsen, CEO 
Phone: +47 911 22 688 
E-mail: kjell@gigante.no

Rune Johansen, CFO 
Phone: +47 988 44 724 
E-mail: rune@gigantesalmon.no

Gigante Salmon:
Gigante Salmon is a land-based salmon farming company with its first production
facility under construction on Lille Indre Rosøy in Rødøy, Norway. The Company's
aquaculture concept is based on a flow-through system, combining the benefits of
conventional and land-based aquaculture while simultaneously eliminating issues
associated with conventional, sea based, farming. Visit www.gigantesalmon.no for
more information.

This information is subject to disclosure under the Norwegian Securities Trading
Act, §5-12.