26.1.2024 08:00:01 CET | Andfjord Salmon | Non-regulatory press releases

Andfjord Salmon is pleased to announce that the excavation of the next 12 pool
pits at Kvalnes, Andøya, has been completed one quarter ahead of schedule.

"This is a highly encouraging start that de-risks the build-out considerably by
creating flexibility for the technical workstreams that are ahead of us." says
Martin Rasmussen, CEO of Andfjord Salmon.

Andjord Salmon has now excavated two rows of pools, which will house six pools
each - twelve in total - equal to a total production capacity of 19,000 tonnes
HOG.

In this initial build-out phase, the company will complete four concrete pools,
which brings total production capacity to 8,000 tonnes HOG at Kvalnes.

"We have planned to initiate concrete works on the pools during the first
quarter, which is ahead of schedule," adds Martin Rasmussen.

The other two ongoing workstreams - the harbour area and waterways - are also
progressing well.

CONTACTS

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

ABOUT ANDFJORD SALMON

Located at Kvalnes on the island of Andøya on the Arctic Archipelago of
Vesterålen, Norway, Andfjord Salmon has developed an innovative and sustainable
aquaculture concept for land-based farming of Atlantic salmon, based on a
flow-through technology solution. The company's ambition is to build the world's
most sustainable and fish-friendly aquaculture facility of its kind.

Andfjord Salmon AS is listed on Euronext Growth under the ticker ANDF. 
www.andfjordsalmon.com - http://www.andfjordsalmon.com/