Salmon Evolution ASA: Phase 2 ramp-up and operation according to plan

Salmon Evolution (OSE: SALME) delivered continued operational progress in phase 1 and initiated operations in phase 2 according to plan during the quarter, further strengthening the foundation for significant production growth and improving profitability in the coming periods.

Weak salmon prices impacted the financial results in Q2, resulting in a farming EBITDA of -3.0 NOKm (YTD 14.6 NOKm) and a Group EBITDA of -11,1 NOKm (YTD: -1,7 NOKm). Q2 farming costs was ~71 NOK/kg, slightly down from Q1 and 13% lower y/y.

"With Phase 1 steadily improving and Phase 2 ramping up according to plan, Salmon Evolution is entering a period of substantial growth. We expect production volumes to more than double over the next 12 months, driving better unit economics and profitability. Combined with an expected recovery in salmon prices, this puts us in a good position as we enter what we believe will be one of the most exciting phases in the company's history," said Trond Håkon Schaug-Pettersen, CEO of Salmon Evolution.

Highlights: Weak salmon prices and backloaded harvest profile impacting Q2 financials. Continued operational progress in Phase 1, with improvements from the new feed and operational protocols increasingly visible although the full positive effects are still ahead. Phase 2 ramp-up and operation according to plan, with the third smolt release completed in July. On track for substantial production growth and improving unit economics coming 12 months - plan to release a combined 2.8 million smolt in phases 1 and 2 for 2026, up 65% from 2025.

Results presentation: CEO Trond Håkon Schaug-Pettersen and CFO Trond Vadset Veibust will present the results for the second quarter 2026 at Hotel Continental in Oslo, Norway, Tuesday 18 August at 08:00 CET.

The presentation and Q&A will be held in English, and participants may also follow the presentation and submit questions through a live webcast available on www.salmonevolution.no or with the following link: https://events.webcast.no/salmon-evolution/OEpmPDaoyhi5siPjdg0b/vJyWMecroAEGjf43 FDVe

A recording of the webcast will be made available on our website after the presentation.

Find the report by using the following link: https://salmonevolution.wrep.it/q2-2026 or see attached PDF.

For further information, please contact: Trond Håkon Schaug-Pettersen, CEO thsp@salmone.no +47 91 19 13 27

Trond Vadset Veibust, CFO tvv@salmone.no +47 48 09 05 95

About Salmon Evolution Salmon Evolution is the global leader within land-based salmon farming. Pioneering the hybrid flow-through system (HFS), Salmon Evolution is Extending the Ocean Potential by creating optimal growth conditions in a controlled environment on land. This approach, capturing the benefits of both land-based and sea-based farming, puts biology first and limits operational and biological risk.

Salmon Evolution is strategically located the heart of the global aquaculture industry on the west coast of Norway, where the Company has its first facility and global centre of excellence fully operational at industrial scale. Enabled by proof of concept at Indre Harøy, Salmon Evolution targets significant expansion.

Salmon Evolution is listed on Oslo Børs under the ticker SALME. To learn more, please visit www.salmonevolution.no.

This information is subject to disclosure under the Norwegian Securities Trading Act, §5-12. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-08-18 06:30 CEST.

More information: Access the news on Oslo Bors NewsWeb site

680021_SALME Q2 2026 Quarterly Presentation.pdf 680021_SALME Q2 2026 Report.pdf