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, 6 October 2025: Reference is made to the previous stock
exchange announcements published by Proximar Seafood AS (the "Company")
regarding the fully underwritten rights issue of 150,000,000 offer shares (the
"Offer Shares") at a subscription price of NOK 1 per share, with subscription
rights for existing shareholders (the "Rights Issue"). 

The subscription period for the Rights Issue (the "Subscription Period") expired
on 6 October at 16:30 hours (CEST).

At the expiry of the Subscription Period, the Company had received valid
subscriptions for a total of 150,000,000  Offer Shares.

The final allocation of the Offer Shares in the Rights Issue has now been
completed based on the allocation criteria set out in the Company's prospectus
dated 19 September 2025 (the "Prospectus"), which, subject to applicable local
securities laws, is made available at the manager's website www.abgsc.com
(https://www.abgsc.com). 

The board of directors of the Company has allocated a total of 150,000,000 Offer
Shares. 50,022,300 Offer Shares have been allocated based on valid subscriptions
from investors with subscription rights and 99,977,700 Offer Shares have been
allocated to the underwriters in the Rights issue in accordance with the
underwriting agreements dated between 7 and 10 July 2025.

Further, a total of 13,500,000 new shares (the "Underwriting Commission Shares")
shall be delivered to the underwriters in accordance with the underwriting
agreements dated between 7 and 10 July 2025, respectively, as settlement of
their commission under said agreement. The Underwriting Commission Shares will
be issued pursuant to the resolution by the extraordinary general meeting held
on 17 September 2025. The Underwriting Commission Shares will be issued at a
subscription price of NOK 1 per Underwriting Commission Share, which is equal to
the subscription price in the Rights Issue. 
 
Notifications of allocated Offer Shares and the corresponding subscription
amount to be paid by each subscriber are expected to be distributed during the
course of 7 October 2025. Payment for the allocated Offer Shares falls due on 9
October 2025 in accordance with the payment procedures described in the
Prospectus.

The Offer Shares and the Underwriting Commission Shares may not be transferred
or traded before they have been fully paid and the share capital increase
pertaining to the relevant shares has been registered with the Norwegian
Register of Business Enterprises (Nw. Foretaksregisteret). The Company will
publish a stock exchange announcement once each such share capital increase has
been registered. It is expected that the share capital increases pertaining to
the Offer Shares and the Underwriting Commission Shares will be registered in
the Norwegian Register of Business Enterprises on or about 13 October 2025 and
that the Offer Shares and the Underwriting Commission Shares will be delivered
to the securities accounts of the subscribers to whom they are allocated on or
about the next day.

The Offer Shares and the Underwriting Commission Shares are expected to be
tradable on Euronext Oslo Børs from and including 14 October 2025.

Following the issuance of the 150,000,000 Offer Shares and the 13,500,000
Underwriting Commission Shares, the Company's share capital will be NOK
31,989,006, divided into 319,890,060 shares, each with a nominal value of NOK
0.10.

ABG Sundal Collier ASA is acting as manager in the Rights Issue (the "Manager").
 
Certain primary insiders, and certain close associates of primary insiders, of
the Company have been allocated shares in the Rights Issue:

Loyden AS, a company closely associated to Joachim Nielsen, CEO of the Company,
has been allocated 145,000 new shares.

Dharma Rajeswaran, COO of the Company, has been allocated 60,000 new shares.

Viggo Halseth, member of the Board of Directors of the Company, has been
allocated 118,300 new shares.

Kvasshøgdi AS, a company closely associated to Per Grieg Jr., Member of the
Board of Directors of the Company, has been allocated 3,702,878 new shares.

Joachim WG AS, a company closely associated to Per Greig Jr., Member of the
Board of Directors of the Company, has been allocated 2,221,727 new shares.

Please see the attached forms for further details about the transactions.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Ole Chr. Willumsen, CFO, at 21:53 on 6 October
2025.

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

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 will
be 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 will,
following publication, be 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.