Bergen, 5 July 2021 - Proximar is pleased to announce the signing of a framework
agreement with Benchmark as supplier of salmon eggs to the company's production
in Japan, confirming progress towards the targeted production capacity of 5,300
tons HOG, supplying the first fish from its land-based production facility to
the Japanese market in 2024. The framework agreement secures Proximar the
required volumes for stage 1 and covers future expansion. The agreement has an
initial term of 3 years with automatic renewal.

Joachim Nielsen, CEO of Proximar states "Proximar is targeting the Japanese
market, where quality is of absolute essence. With the increasing number of
land-based initiatives, securing quality eggs is a key concern. Our agreement
with Benchmark is securing us high quality eggs and stable deliveries all-year
round for our production in Japan."

As part of the agreement, Benchmark will also provide relevant technical support
by allocating a designated member to our Technical Advisory Committee (TAC). We
are therefore very pleased to announce the member from Benchmark to join our
TAC, Dr Andrew Preston, Global Technical Manager for RAS at Benchmark.

Dr Preston has deep insight and very relevant experience after working more than
3 years for AquaMaof, where he held the position as Head of Aquaculture
Production and worked closely with the operations in Poland, farming Atlantic
salmon. Prior to joining AquaMaof, he worked at the University of Stirling's
Institute of Aquaculture. 

"We are very satisfied that we have been able to secure this long-term agreement
and strategic collaboration with Proximar Seafood", says Commercial Director in
Benchmark Genetics, Geir Olav Melingen, and continues: "Benchmark holds a unique
position in the global land-based market, with 30 years' experience from the
land-based production in Iceland. The last year we have also strengthened the
technical support towards this growing segment, which was an important part of
the agreement". 

For more than 4 years, AquaMaof's salmon center in Poland has been producing
Atlantic salmon and harvesting steadily market size fish for the last 2 years.
The growth rates achieved are in line with Proximar's production plan of around
22 months from egg to market size. The production is operating at commercial
conditions when it comes to densities etc, and with mortality levels below 5%
for the post-smolt grow-out period. The fish also scores high on tasting panels
with positive feedback regarding taste, color, and texture. Aqua Maof has also
been testing the performance of all-female and triploid eggs from Benchmark in
its facility in Poland, showing very good and consistent performance. 

"We are extremely proud of what has been achieved at the AquaMaof salmon center
in Poland in the last four years," says David Hazut, CEO of AquaMaof. "It has
proven the capability of our technology to consistently produce smolts and
harvest-size Atlantic salmon on land, under commercial conditions. We have been
using this facility as a test bed for continuous optimization of the production
parameters of our technology. However, the basic process design has remained
unchanged over the years. Using simple and low complexity solutions reduces
risks of failure in operations. We are also pleased to see the technology
working very well with the eggs from Benchmark."

Contact: 
-Joachim Nielsen, CEO Proximar Seafood AS, tel: +47 928 55 559, email:
jn@proximar.com 
-Geir Olav Melingen, Commercial Director Benchmark Genetics, tel.: +47 922 44
511, email: geir.olav@bmkgenetics.com

About Benchmark Genetics
oBenchmark Genetics brings together the companies Benchmark Genetics Norway AS,
Benchmark Genetics Iceland H.F., Benchmark Genetics Chile, Spring Genetics and
Benchmark Genetics Shrimp. 
oWe are a world leader in breeding and genetics on Atlantic salmon, tilapia,
shrimp and lumpfish, produced in Norway, Iceland, Chile, the USA, Brazil and
Colombia. 
oThe division is also a world leader in technical genetic services for the
global aquaculture industry.
oBenchmark Genetics belongs to the listed British group Benchmark Holdings plc.
Read more at www.benchmarkplc.com

About Proximar Seafood:
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. www.proximar.com