SALME Q4 2025Extending the ocean potential

Salmon Evolutions current strategic priorities are operational excellence and Indre Harøy phase 2 project execution. The board is satisfied with the continued operational and strategic progress achieved through 2025, and that Salmon Evolution remains firmly on track in its ambition to be the global benchmark for sustainable land-based salmon farming.

Through 2025, operations at Indre Harøy have continued to demonstrate the robustness of Salmon Evolution’s hybrid flow-through system. Stable production and solid biological performance underpin the Board’s confidence in the operating model. Results for survival rate and superior grade share are industry leading and have remained stable over a prolonged period. Although biomass growth improved materially during 2025, performance remains below stated targets and further improvement is required in 2026. The Board is confident that the measures implemented to address this will deliver the desired results.

The salmon market in 2025 was characterized by solid production driven by record temperatures for sea-based farmers in Norway. This in turn led to a double digit increase in supply, and a material negative impact on prices, illustrated by the price realization for Salmon Evolution being down approximately 30 % y/y. The Board believes that the structural demand outlook for Atlantic salmon remains strong, and that growth from traditional farming methods will remain muted in the years ahead, underpinning a strong price outlook.

Salmon Evolution is on the verge of taking Indre Harøy phase 2 into operation. This truly is a game changer, ensuring critical scale by more than doubling harvest capacity. This is expected to create strong financial results in the years to come, supporting a substantial organic investment capacity. The board is satisfied that the project remains on track to reach the stated milestones, with the first smolt release in less than 60 days.

The company remains fully committed to its long-term vision; to be a global leader in land-based salmon farming, delivering sustainable, high-quality salmon while continuously driving biological and operational excellence. With phase 1 at Indre Harøy in full operation and phase 2 operations initiating soon, Salmon Evolution is in a unique position to capitalize on future opportunities and further solidify its leadership position in the industry.

Responsibility statement in connection with interim management report by the Board of Directors and CEO of Salmon Evolution ASA.

We confirm, to the best of our knowledge, that the condensed set of financial statements for the period 1 January to 31 December 2025 has been prepared in accordance with IAS 34 – Interim Financial Reporting and gives a true and fair view of the Company’s and Company’s assets, liabilities, financial position and profit or loss as a whole. We also confirm, to the best of our knowledge, that the interim management report includes a fair review of important events that have occurred during the period and their impact on the condensed set of financial statements, a description of the principal risks and uncertainties facing the

Company, and major related parties’ transactions.