Bergen/Yokohama, 5 January 2024: Proximar Seafood AS ("Proximar" or the
"Company") is announcing its second production update following the successful
initiation of production of Atlantic salmon in its Oyama-facility in Japan in
October 2022.

At the end of Q4 2023, the Company had a standing biomass of 40,7 metric tonnes,
up from 11,5 metric tonnes at the end of Q3.

"We are very pleased to see the positive development in our biomass continuing
through the fourth quarter, in-line with our expectations. In December we also
transferred the first fish to our grow-out facility, which was another major
milestone. Ahead of this, we reduced temperatures in the nursery department to
lower growth rate and secure adequate flexibility for the timing of this
transfer. During start-up of the grow-out facility we have limited feeding
capacity until the biofilter is matured. The combination of this impacted growth
slightly. However, we remain on track for first harvest in the third quarter
this year", says Joachim Nielsen, CEO of Proximar.