Yokohama, 23 June 2025: Proximar Seafood AS ("Proximar" or the "Company") is
pleased to report that all modules in the grow-out building is back in
operation, and that full capacity is restored following repair works of the
biofilters.

The Company has scheduled to move fish into the last module this week, meaning
that Proximar is finally able to resume operations as required in all of the
four modules in the grow-out facility. 

Since the biofilter incidents in Q4 2024, production has been constrained due to
limited capacity. This has also affected growth rates and average harvest
weights as previously communicated. 

With all modules back in full functionality, growth rates and harvest sizes are
expected to gradually get back to the production plan through H2 2025.

The company expects harvest volumes around 3,000 tonnes HOG for 2025. 

"Despite the reduced feeding which has impacted growth rates, we see stable
performance in the facility. The water quality remains good and stable, also at
high densities. This reaffirms our expectations for the targeted production
volumes going forward. Now that the grow-out is finally restored to full
production capacity after time-consuming repair works, we expect growth rates
and harvest sizes to gradually get back on track", says Joachim Nielsen, CEO of
Proximar.  

For further information, please contact:
Joachim Nielsen, CEO, +81 70 28 11 98 98, jn@proximar.com
Ole Chr. Willumsen, CFO, +47 48 21 34 29 ocw@proximar.com

About Proximar Seafood
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility and production at the foot of Mount Fuji in Japan. The
company inserted its first batch of eggs in October 2022 and carried out its
first harvest on 30 September 2024. Proximar's brand and logo (Fuji Atlantic
Salmon) were officially launched in October at our partner Marubeni
Corporation's head quarter in Tokyo. Through land-based salmon farming, using
high-quality groundwater secured close to Mount Fuji, the company produces fresh
Atlantic Salmon, harvested the same day. Proximar's location, near one of the
world's most important fish markets, implies significant advantages, both in
terms of reduced cost and carbon footprint.