Proximar Seafood AS: Update on funding situation

Bergen/Yokohama, 11 November 2026

Reference is made to the announcements by Proximar Seafood AS ("Proximar" or the
"Company") on 27 October 2026 and 30 October 2026 regarding the Company's
liquidity and financing situation.

Through targeted cash management measures, including extended payment terms with
suppliers and accelerated collection of receivables for harvested and sold fish,
the Company has improved its short-term liquidity position. These measures are
expected to secure the Company's liquidity for the coming few weeks, while
discussions with key stakeholders are still ongoing.

A solution regarding the overall liquidity situation and capital structure is
pending an agreement between the key stakeholders. The main solution under
consideration includes a conversion of all financial indebtedness of the parent
company into equity, combined with a private placement of new equity and a
subsequent repair issue directed to the shareholders. Proximar continues to be
assisted by its financial advisor, ABG Sundal Collier. 

The Company will keep the market informed as the situation evolves.

For further information, please contact:
Pål Selvik, Chair of the Board: pse@proximar.com
Joachim Nielsen, CEO: jn@proximar.com

Media enquiries:
Magnus Granerød, Salto Advisers, +47 922 38 407, mg@saltoadvisers.no

About Proximar Seafood AS
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility at the foot of Mount Fuji in Japan. The Company inserted its
first batch of eggs in October 2022, carried out its first harvest on 30
September 2024, and launched its brand, Fuji Atlantic Salmon, in October 2024.
Using high-quality groundwater sourced close to Mount Fuji, Proximar produces
fresh Atlantic salmon, harvested and delivered the same day. Its location near
one of the world's most important fish markets gives it significant advantages
in both cost and carbon footprint.
nificant advantages\
in both cost and carbon footprint.\