15 June 2023: Reference is made to Proximar Seafood AS' (the "Company")
convertible bond with ISIN NO0012733387 (the "Bonds") issued on 25 October 2022.
The Company has received conversion notice for a total of 4,000,000 Bonds, which
pursuant to the bond terms are convertible into 800,000 new shares in the
Company at a conversion price of NOK 5. 

The share capital increase pertaining to the conversion of 4,000,000 Bonds has
been registered in the Norwegian Register of Business Enterprises (Nw.:
Foretaksregisteret). Following such share capital increase, the Company's share
capital is NOK 5,905,278 consisting of 59,052,780 shares each with a par value
of NOK 0.1. The new shares pertaining to the share capital increase are expected
to be recorded in the VPS later today. 

For more information, please contact: 
Joachim Nielsen, CEO, +81 70 2811 9898, jn@proximar.com 
Pål K. Grimsrud, CFO, +47 99 47 75 99, pkg@proximar.com 

About Proximar Seafood 
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility and production at the foot of Mount Fuji in Japan. The
company inserted its first batch of eggs in October 2022. Through land-based
salmon 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.