Bodø, Norway, 25 January 2024

Gigante Salmon this week released 640,000 smolt distributed in two deliveries.
The company announced 23 January a significant mortality in the second delivery,
and the extent is now clear.

20,000 dead fish have been registered, mainly related to the second delivery.
The fish was dead on arrival to the facility, and the cause is being mapped by
our fish health service partner.

The overall mortality after first release is approx. 3 %, while the second of
the two deliveries had a mortality of approx. 6 %.

The situation is under control, and the Rødøy facility is working as planned.

- All mortality, regardless of the number, is undesirable. Our job is to ensure
the fish has a good life, and it feels good to report that the situation we
experienced after the second delivery is now clarified and under control, says
CEO Helge E. W. Albertsen.

For further information, please contact:

Helge E. W. Albertsen, CEO 
Phone: +47 480 47 613 
E-mail: helge@gigantesalmon.no 

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

About 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, i.e. sea lice and escapes as
well as reduced mortality, emissions, feed waste and impact on nearby
surroundings.

See www.gigantesalmon.no for more information on the company.