Proximar Seafood: Successful placement of NOK 100 million convertible bond

Bergen/Yokohama, 5 August 2026: Proximar Seafood AS ("Proximar" or the "Company") is pleased to announce the successful placement of a new NOK 100 million, 3-year unsecured convertible bond (the "Convertible Bond"). The proceeds comprise NOK 75 million in new subscriptions and NOK 25 million rolled over from Proximar's existing convertible bonds.

Settlement is expected on or about 12 August 2026, subject to customary conditions precedent. An application will be made for the Convertible Bond to be listed on Nordic ABM.

"We appreciate the continued support from our bondholders, banks and shareholders. The proceeds from the convertible bond strengthen our liquidity and we will continue our full focus and efforts to deliver on our positive operational trajectory. With biological performance and harvest weights progressing toward a steady supply above 3 kg, we remain well positioned as we work toward profitable operations," said CEO Joachim Nielsen.

The conversion price is NOK 0.60 per share. The Convertible Bond matures on 6 August 2029 and is, except for in a change-of-control situation, non-convertible for the first six months following issuance. The coupon is 13 per cent per annum payable in kind (PIK) for the first year, and thereafter 15 per cent PIK or 7 per cent per annum payable in cash, at the choice of the Company.

The net proceeds from the Convertible Bond, together with the extension of the existing bond, provides additional longer-term financing for Proximar as it continues to build biomass and harvest volumes. The transaction follows a constructive dialogue with Proximar's banks, and a waiver of the sales covenant under the syndicated bank loan for the second quarter of 2026 has been granted.

Loyden AS, a close associate of primary insider and CEO of Proximar, Joachim Nielsen, has been allocated bonds in the amount of NOK 0.25 million.

Proximar intends, as far as practically possible, to invite remaining shareholders and existing bondholders not included in this tranche to subscribe in a subsequent tranche of the Convertible Bond on equal terms, within the next few months, subject to applicable law, stock exchange rules and market practice.

ABG Sundal Collier ASA acted as manager for the Convertible Bond.

For further information, please contact: Joachim Nielsen, CEO: ir@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 carried out its first harvest on 30 September 2024. Proximar's brand and logo (Fuji Atlantic Salmon) were officially launched in October 2024 at our partner Marubeni Corporation’s head quarter in Tokyo. Through land-based salmon farming, using high-quality groundwater secured close to Mount Fuji, the company produces 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.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.