Bergen, Norway - 30 March 2022 - Proximar Seafood AS (EURONEXT: PROXI)- a
Norwegian land-based salmon farming company with its first production facility
under construction at the foot of Mount Fuji in Japan - today published its
annual report for 2021 and reported its results for the second half. 2021 was
marked by several important milestones.

"We have kicked off the work on our first land-based recirculation facility
outside Tokyo - on time and on budget. This brings us one big step closer to
serving fresh, Atlantic salmon to Japanese households and restaurants, locally
produced with a low carbon footprint," says Joachim Nielsen, CEO of Proximar
Seafood. 

Proximar is in a project development phase and consequently had no income in the
second half of 2021. The net loss for second half of 2021 was NOK 5.5 million,
compared to a loss of NOK 7.9 million in the second half of 2020.

"During the year, we have strengthened the team and are preparing for the
operational start-up in third quarter this year when the first eggs will be
inserted. Hence, we are now building our team on site in Japan and we have
received considerable interest from potential candidates," says Nielsen.

Proximar has with the latest signed contracts secured approximately 95 per cent
of the CAPEX on fixed prices. The CAPEX pr kilo is still planned at NOK 193/kg
and the company keeps the debt ratio target of 50 per cent. 

For more information, please see the annual report and presentation for the
second half of 2021 attached. 

Proximar Seafood will present its financial results for the second half and full
year of 2021 today, Wednesday 30 March 2022, at 09:00 CEST. The presentation
will be streamed and will be hosted by CEO Joachim Nielsen and CFO Pål K.
Grimsrud. The presentation will be held in English and questions can be
submitted throughout the event. The streaming event is available through: 
https://events.webcast.no/proximar/videokonferanse/FXUpTCHvKWKu9KVTnQyG

For further information, please contact: 
Pål K. Grimsrud, CFO, Proximar Seafood AS 
Tel: +47 99477599 Email: pkg@proximar.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.