Proximar Seafood AS (PROXI), a land-based salmon farming company, has entered
into an agreement with HighComp AS for the purchase of GRP (Glass fibre
Reinforced Polyester) production tanks for its first production facility, which
is currently under construction in Oyama town, at the foot of Mount Fuji in
Japan.

HighComp's GRP solution provides high-impact strength, high quality finish, a
lifespan of over 50 years and a low CO2 footprint. The size of the tanks ranges
from 3 to 18 meters in diameter. The chosen solution also has the benefit of
simple and efficient installation. The construction of Proximar's facility is
expected to be finalized in the third quarter of 2023.

CEO of Proximar, Joachim Nielsen comments: "We are targeting an annual
production of 5,300 tons (HOG) Atlantic salmon per year from our Stage 1
facility at Mount Fuji, serving  the Japanese market with fresh Atlantic salmon
harvested the same day.. We have worked closely with HighComp over a long period
in planning and designing the tanks, and are confident in HighComp's ability to
deliver according to quality and schedule."

The first deliveries from HighComp will be made in early 2022, in accordance
with Proximar's construction schedule. In addition to the tanks, HighComp will
supply harvest channels for both the hatchery and nursery buildings as well as
the post smolt grow-out building. The contract value is approximately 50 MNOK.

"The construction preparations started on 19th March, as scheduled, and we are
proceeding as planned both with respect to time and cost," said CEO Joachim
Nielsen. 

The total construction schedule lasts for 28 months from start of construction
preparations. Groundworks started at the beginning of May, and the first piping
installations from Aqua Maof started in early June together with concrete works
for foundation and biofilters. 

For more information, please contact:

Joachim Nielsen, Chief Executive Officer
Phone: +47 928 55 559, e-mail: jn@proximar.com

Pål Grimsrud, Chief Financial Officer
Phone: +47 994 77 599, e-mail: pkg@proximar.com

About Proximar: 
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility under construction at the foot of Mount Fuji in Japan.
Through land-based fish farming, using high-quality ground water secured close
to Mount Fuji, the company will produce fresh Atlantic Salmon, harvested the
same day. Proximar's location, near one of the world's most important fish
markets, implies significant advantages, both in terms of reduced cost and
carbon footprint.