Bergen, Norway - 18 August 2023. Proximar Seafood AS (PROXI) today reported its
second quarter and first half 2023 results. The highlights of the quarter are as
follow: 

o Completed acquisition of the land 
- In June, Proximar completed the acquisition of the land, settling the seller
credit and transferring the formal ownership to Proximar Ltd. The transfer
reduces the financing costs and was in line with the initial plan.

o Drawdown of first tranche of bank debt
- The first drawdown of the loan of JPY 8.8 billion provided by Mizuho Bank,
Shizuoka Bank and Development Bank of Japan.

o Continued recruitment of new employees 
- Strengthening of local production team and transitioning focus from
construction to production activities 
- New CFO in place with long term international experience, including Japan

o Funding secured 
- MNOK 74 raised in a private placement 
- Shareholder loan from Grieg securing additional NOK 104 million


Joachim Nielsen, CEO of Proximar Seafood, comments:
"I am pleased that we have completed the construction works of our 5 300 tons
facility according to schedule after many years of planning and more than two
years of construction activities . This marks an important milestone for the
company, and we are now focusing our efforts on production and harvesting of the
first Atlantic salmon at our facility in Q3 next year"  

For more information, please see the presentation for the second quarter 2023
attached. 

Proximar Seafood will present its financial results for the second quarter 2023
on Friday 18 August 2023, at 09:00 CEST. 

The investor presentation will be streamed and will be hosted by CEO Joachim
Nielsen and CFO Ole Chr. Willumsen. 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/2023/proximar-q2-2023

For further information, please contact: 
Ole Chr. Willumsen, CFO, +47 48 21 34 29, ocw@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 and plans first harvest
in Q3 2024. 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.