NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS,
ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE
"UNITED STATES"), AUSTRALIA, CANADA, 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.

Bodø, Norway, 18 March 2026

Reference is made to the announcement by Gigante Salmon AS (the "Company") on 5
March 2026 regarding launch of the subsequent offering (the "Subsequent
Offering") of up to 5,333,333 new shares in the Company (the "Offer Shares") at
a subscription price of NOK 7.50 per share (the "Offer Price"). The application
period for the Subsequent Offering commenced on 6 March 2026 at 09:00 (CET) and
expired 18 March 2026 at 16:30 (CET) (the "Application Period"). 

The Company's board of directors has approved an allocation and resolved the
issuance of 5,333,333 Offer Shares pursuant the authorization to increase the
Company's share capital granted by the Company's annual general meeting held on
25 February 2026, and in accordance with the allocation criteria set out in the
national prospectus published in connection with the Subsequent Offering. The
Company will consequently raise approx. NOK 40 million in gross proceeds through
the Subsequent Offering.

Investors that are allocated Offer Shares can access information on the number
of Offer Shares allocated through VPS. The due date for payment of the Offer
Shares is on 23 March 2026.
 
Subject to duly and timely payment of the Offer Shares, the share capital
increase is expected to be registered in the Norwegian Register of Business
Enterprises on or about 27 March 2026 and will be delivered to the VPS accounts
on the subscribers shortly thereafter on or about 30 March 2026. A separate
announcement will be made when the share capital increase has been registered in
the Norwegian Register of Business Enterprises. The Offer Shares will have equal
rights and rank pari passu with the Company's other shares. 

Please see the attached notification form regarding Kapnord AS' subscription of
Offer Shares in accordance with article 19 of the EU Market Abuse Regulation.

DNB Carnegie, a part of DNB Bank ASA, Pareto Securities AS and SB1 Markets AS
are acting as joint global coordinators and bookrunners (the "Managers").
Advokatfirmaet Selmer AS is acting as legal advisor to the Company.

For further information, please contact: 

Kjell Arild Lorentsen, CEO 
E-mail: kjell@gigante.no
Phone: +47 911 22 688

Benny Hansen, CFO 
E-mail: benny@gigantesalmon.no
Phone: +47 907 80 292


Gigante Salmon AS:
Gigante Salmon AS is a land-based salmon farming company that is building its
first facility on Lille Indre Rosøy in Rødøy municipality. The Company's
aquaculture concept is a flow-through system that preserves the advantages from
both conventional sea-based and land-based aquaculture, while simultaneously
reducing and eliminating the challenges associated with traditional farming at
sea. Visit www.gigantesalmon.no for more information about the company.
This information is published in accordance with the requirements of the
Continuing Obligations for companies listed on Euronext Growth Oslo and section
5-12 of the Norwegian Securities Trading Act.  
Important notice:
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures. 
The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "US Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the US Securities Act and in accordance with applicable U.S. state securities
laws. The Company does not intend to register any part of the offering in the
United States or to conduct a public offering of securities in the United
States. Any sale in the United States of the securities mentioned in this
announcement will be made solely to "qualified institutional buyers" as defined
in Rule 144A under the US Securities Act. 
In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive the offer
without an approved prospectus in such EEA Member State. The expression "EU
Prospectus Regulation" means Regulation (EU) 2017/1129 as amended (together with
any applicable implementing measures in any Member State). 
This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) 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) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). 
This communication must not be acted on or relied on by persons who are not
relevant persons. Any investment or investment activity to which this
communication relates is available only for 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. 

Matters discussed in this announcement may constitute or include certain
forward-looking statements. Forward-looking statements are statements that are
not historical facts and may include, without limitation, any statements
preceded by, followed by or including words such as "aims", "anticipates",
"believes", "can have", "continues", "could", "estimates", "expects", "intends",
"likely", "may", "plans", "projects", "should", "target" "will", "would" and
words or expressions of similar meaning or the negative thereof. These
statements are based on the management's current views and assumptions and
involve both known and unknown risks and uncertainties and assumptions that are
within and outside the management's control. Although the Company believes that
the expectations implied in any such forward-looking statements are reasonable,
no assurance can be given that such expectations will prove to be correct.
Actual results, performance or events may differ materially from those set out
or implied in the forward-looking statements. No representation is made that any
of these forward-looking statements or forecasts will come to pass or that any
forecast result will be achieved. The forward-looking statements included in
this announcement represent the Company's views as of the date of this
announcement and subsequent events and developments may cause the Company's
views to change. The Company disclaims any obligation to update forward-looking
information except as required by law. Readers should not place undue reliance
on any forward-looking statement.
The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement. 
Neither the Managers 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. Neither the
Managers nor any of its affiliates accepts any liability arising from the use of
this announcement. 
The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.