20.10.2025 08:00:01 CEST | Andfjord Salmon | Non-regulatory press releases

Andfjord Salmon Group AS (Andfjord Salmon) is pleased to report the completion
of pool K1 and solid biological conditions in pool K0 following the recent smolt
release - resulting in a minimal number of mortalities and strong growth after
nearly three weeks in the pool.

On 30 September 2025, Andfjord Salmon released approximately 350,000 smolt, at
an average weight of around 180 grams, into pool K0. The company has so far
recorded 95 mortalities which is equivalent to a survival rate of 99.97%. The
fish displays good external health, with minimal occurrence of visible wounds or
injuries. The smolt's average weight has already grown by approximately 45%
since release, indicating biological performance above expectations.

"The smolt release in K0 and the subsequent period has gone better than we dared
to hope for. The fish logistics system worked perfectly during the smolt release
and we hardly lost any fish. The smolt has demonstrated a healthy appetite from
day one and are growing faster than expected. This is a great start, but there
is a lot of hard work to be done over the coming months before we can
celebrate," says Martin Rasmussen, CEO of Andfjord Salmon.

K1 complete

Andfjord Salmon has also completed pool K1, which is the first newbuild pool of
the ongoing build-out phase at Kvalnes, Andøya. The pool has been filled with
seawater and will undergo extensive testing and preparations prior to the
planned release of approximately 750,000 smolt in early November.

"The smolt release in K0 was hugely successful and we are aiming to replicate
this as much as possible when we release smolt into K1," adds Martin Rasmussen.

Since its previous production cycle that ended in June 2023, Andfjord Salmon has
been working on developing new pools, a harbour area, and waterways that can
handle large-scale production at Kvalnes. The site infrastructure is designed to
support future production of approximately 48,100 tonnes (HOG + post-smolt) at
Kvalnes.

Photos

To download photos from pool K0, click here: 
https://collection.cloudinary.com/andfjord/aa74437986cb7d5a46e6566828b6c071

CONTACTS

 * Investors: Bjarne Martinsen, CFO, Andfjord Salmon Group AS, +47 975 08 345,
   bjarne.martinsen@andfjord.no 
 * Media: Martin Rasmussen, CEO, Andfjord Salmon Group AS, +47 975 08 665,
   martin@andfjord.no 

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord
Salmon is developing the world's most sustainable and fish-friendly aquaculture
facility of its kind. Through a proprietary flow-through system, Andfjord Salmon
combines the best from ocean and land-based salmon farming. In its first
production cycle, the company achieved an industry-leading survival rate of 97.5
percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and
required 1 kWh to produce one kilo of salmon. For more information, see 
www.andfjordsalmon.com - http://www.andfjordsalmon.com.