15 May 2023: Reference is made to the Proximar Seafood AS (the "Company")
convertible bond with ISIN NO0012733387 (the "Bonds") issued on 25 October 2022.
The Company has received conversion notices for a total of 16,000,000 Bonds,
which pursuant to the bond terms are convertible into 3,200,000 new shares in
the Company at a conversion price of NOK 5. Following the conversion, the
Company has Bonds in issue in the nominal amount of NOK 231,300,000. Further and
following completion of such conversion, including registration of the share
capital increase in the Norwegian Register of Business Enterprises (Nw.:
Foretaksregisteret) pertaining to the conversion, the Company's share capital
will be increased by NOK 320,000 by issue of 3,200,000 new shares into a share
capital of NOK 4,756,042 consisting of 47,560,420 shares each with a par value
of NOK 0.1. 

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

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 and has currently
inserted batch number five. 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.

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