NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE
PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES
DESCRIBED HEREIN. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS
ANNOUNCEMENT.

Yokohama/Bergen, 22 September 2025: Reference is made to the stock exchange
announcement published by Proximar Seafood AS (the "Company") on 17 September
2025 regarding the approval by the extraordinary general meeting of the Company
of a fully underwritten rights issue of 150,000,000 new shares in the Company,
at a subscription price of NOK 1 per share (the "Rights Issue"). 

Reference is further made to the stock exchange announcement of 19 September
2025 regarding the approval by the Financial Supervisory Authority of Norway
(Nw. Finanstilsynet) of the prospectus prepared by the Company (the
"Prospectus") for the offer and listing on Euronext Growth Oslo of 150,000,000
offer shares in the Rights Issue (the "Offer Shares") and the listing of
13,500,000 new shares to be issued in connection with the settlement of the
underwriting fee to the underwriters ("Underwriting Commission Shares"). Subject
to applicable local securities laws, the Prospectus, including the subscription
form for the Rights Issue, is made available at www.abgsc.com. 

The subscription period for the Rights Issue will commence today, 22 September
2025, at 09:00 hours (CEST) and expire on 6 October 2025 at 16:30 hours (CEST)
(the "Subscription Period"). The Subscription Rights (as defined below) will be
tradable on Euronext Growth Oslo under the ticker code "PROXT" from today, 22
September 2025, at 09:00 hours (CEST) until 30 September 2025 at 16:30 hours
(CEST).

Allocation of Subscription Rights: Shareholders of the Company as of 17
September 2025 (and being registered as such in the Norwegian Central Securities
Depository (the "CSD") as of 19 September 2025 pursuant to the two days'
settlement procedure of CSD (the "Record Date", and such shareholders, the
"Existing Shareholders")), have been granted tradable subscription rights (the
"Subscription Rights") in the Rights Issue.

Each Existing Shareholder has been granted 0.9591 Subscription Rights for each
existing share in the Company registered as held by the Existing Shareholder of
the Record Date, rounded down to the nearest whole Subscription Right. Each
Subscription Right will, subject to applicable law, give the right to subscribe
for, and be allocated one (1) Offer Share at a subscription price of NOK 1 per
Offer Share. Over-subscription (i.e. subscription for more Offer Shares than the
number of Subscription Rights held by the subscriber entitles the subscriber to
be allocated) and subscription without Subscription Rights will be permitted.

The allocation to, or acquisition of Subscription Rights by, and the
subscription of Offer Shares by, persons resident in, or who are citizens of
countries other than Norway, may be affected by the laws of the relevant
jurisdiction. For a further description of such restrictions, reference is made
to the introductory part on page (i)-(ii) and Section 13 "Selling and Transfer
Restrictions" of the Prospectus.

Subscription Rights: The Subscription Rights will be listed and tradable on
Euronext Growth Oslo from 09:00 hours (CEST) on 22 September 2025 to 16:30 hours
(CEST) on 30 September 2025 under the ticker code "PROXT". The Subscription
Rights will hence only be tradable during a part of the Subscription Period.

Subscription Rights that are (i) not sold before 16:30 hours (CEST) on 30
September 2025 or (ii) not used to subscribe for shares in the Rights Issue
prior to expiry of the Subscription Period on 6 October 2025 at 16:30 hours
(CEST) will lapse without compensation to the holder, and thus be without value.

The Subscription Rights are expected to have an economic value if the Company's
shares trade above the Subscription Price during the Subscription Period.
Existing Shareholders who do not exercise their Subscription Rights will
experience a dilution of their shareholding in the Company. See Section 5.7
"Subscription Rights" and 5.28 "Dilution" in the Prospectus for further
information.

The underwriting: The Company and a group of investors, including several
existing shareholders (the "Underwriters") entered into underwriting agreements
dated between 7 to 10 July 2025 (the "Underwriting Agreements"), pursuant to
which the Underwriters have undertaken to fully underwrite the Rights Issue.
Consequently, the entire Rights Issue of NOK 150 million is guaranteed. Pursuant
to the Underwriting Agreement, each Underwriter will (i) upon completion of the
Rights Issue, or (ii) in the event that the Rights Issue is withdrawn by the
Company, receive an underwriting fee of 9% of its total underwritten amount,
i.e. in total NOK 13,500,000, which shall be settled in Underwriting Commission
Shares to be issued at the subscription price of NOK 1. Any Underwriting
Commission Shares will be in addition to any Offer Shares allocated to such
Underwriter in the Rights Issue, at the same time as the Offer Share as further
described in Section 5.21 "The Underwriting" of the Prospectus.

The payment date in the Rights Issue is 9 October 2025. Subject to timely
payment of the Offer Shares subscribed for and allocated in the Rights Issue,
the issuance and delivery of the Offer Shares in the Rights Issue is expected to
be completed on or about 14 October 2025. The Offer Shares are expected to
commence trading on Euronext Growth Oslo on 14 October 2025.

ABG Sundal Collier ASA has been retained as manager for the Rights Issue (the
"Manager"). Advokatfirmaet Thommessen AS is acting as legal advisor to the
Company in connection with the Rights Issue.

For further information, please contact:
Joachim Nielsen, CEO, +47 92 85 55 59, jn@proximar.com 
Ole Chr. Willumsen, CFO, +47 48 21 34 29, ocw@proximar.com 

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.

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 2024 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.

- IMPORTANT INFORMATION -
This announcement does not constitute an offer of securities for sale or a
solicitation of an offer to purchase securities of the Company in the United
States or any other jurisdiction. Copies of this document may not be sent to
jurisdictions, or distributed in or sent from jurisdictions, in which this is
barred or prohibited by law. The securities of the Company may not be offered or
sold in the United States absent registration or an exemption from registration
under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act").
The securities of the Company have not been, and will not be, registered under
the U.S. Securities Act. Any sale in the United States of the securities
mentioned in this communication will be made solely to "qualified institutional
buyers" as defined in Rule 144A under the U.S. Securities Act. No public
offering of the securities will be made in the United States. 

Any offering and listing of the securities referred to in this announcement have
been made by means of the Prospectus. This announcement is an advertisement and
is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the
European Parliament and of the Council of 14 June 2017 on prospectuses to be
published when securities are offered to the public or admitted to trading on a
regulated market, and repealing Directive 2003/71/EC (as amended) as implemented
in any EEA Member State (the "Prospectus Regulation"). The approval of the
Prospectus by the Financial Supervisory Authority of Norway (Nw. Finanstilsynet)
should not be understood as an endorsement of the securities referred to in this
announcement. Investors should not subscribe for any securities referred to in
this announcement except on the basis of information contained in the
Prospectus, to fully understand the potential risks and rewards associated with
the decision to invest in the securities. Copies of the Prospectus are available
from the Company's registered office and, subject to certain exceptions, on the
website of the Manager. 

In any EEA Member State other than Norway, this communication is only addressed
to and is only directed at qualified investors in that Member State within the
meaning of the Prospectus Regulation, i.e., only to investors who can receive
the offer without an approved prospectus in such EEA Member State. 

In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who (i) are investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so. 

This document is not for publication or distribution in, directly or indirectly,
the United States, Canada, Australia, the Hong Kong Special Administrative
Region of the People's Republic of China or Japan or any other jurisdiction in
which such release, publication or distribution would be unlawful, and it does
not constitute an offer or invitation to subscribe for or purchase any
securities in such countries or in any other jurisdiction. In particular, the
document and the information contained herein should not be distributed or
otherwise transmitted into the United States or to publications with a general
circulation in the United States of America. 

The Manager is acting for the Company in connection with the Rights Issue and no
one else and will not be responsible to anyone other than the Company for
providing the protections afforded to their respective clients or for providing
advice in relation to the Rights Issue or any transaction or arrangement
referred to in this announcement. 

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The information, opinions and forward-looking
statements contained in this announcement speak only as at its date and are
subject to change without notice. This announcement is made by and is the
responsibility of, the Company. Neither the Manager nor any of its affiliates
makes any representation as to the accuracy or completeness of this announcement
and none of them accepts any responsibility for the contents of this
announcement or any matters referred to herein. 

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. No reliance may be
placed for any purpose on the information contained in this announcement or its
accuracy, fairness or completeness. Neither the Manager nor any of its
respective affiliates accepts any liability arising from the use of this
announcement.