Bodø, Norway, 25 March 2025

A new milestone has been reached with the completion of production basin no. 2
(out of a total of 3 basins). This is accordance with the previously
communicated project plan.

Gigante Salmon AS therefore continues to follow the planned progression towards
full production capacity from 2026, with a gradual ramp-up to an annual
production of 16,000 tonnes HOG from 2028.

The company will start harvesting its pilot production during Q2 2025, expecting
approximately 550 tonnes HOG. 

For further information, please contact:

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

Rune Johansen, CFO
Phone: +47 988 44 724
E-mail: rune@gigantesalmon.no

Gigante Salmon:
Gigante Salmon is a land-based salmon farming company with its first production
facility under construction on Lille Indre Rosøy in Rødøy, Norway. The Company's
aquaculture concept is based on a flow-through system, combining the benefits of
conventional and land-based aquaculture while simultaneously eliminating issues
associated with conventional, sea based, farming. Visit www.gigantesalmon.no for
more information.