NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Bodø, 10 February 2026

Reference is made to the stock exchange announcement by Gigante Salmon AS (the
"Company") on 15 December 2025 following an extraordinary general meeting
regarding the appointment of DNB Carnegie, a part of DNB Bank ASA, Pareto
Securities AS and SB1 Markets AS (collectively the "Managers") to advise on and
effect a contemplated private placement of new shares in the Company (the "Offer
Shares") directed towards Norwegian and international investors (the "Private
Placement") to raise gross proceeds of up to  NOK 322,500,000 in gross proceeds
(which is equal to the Board Authorisation based on the Offer Price) (the "Offer
Size").

The Company hereby announces that it is launching the Private Placement after
the close of trading on Euronext Growth Oslo today.

In addition, the Company intends to conduct a separate retail offering of new
shares in the Company (the "Retail Offer Shares") directed towards retail
investors, to raise gross proceeds of up to the NOK equivalent of up to EUR 1
million, subject to applicable exemptions from prospectus requirements, to be
facilitated through Nordnet Bank AB ("Nordnet") and made through their
facilities (the "Retail Offering"). The Private Placement and the Retail
Offering will in sum not exceed the Offer Size.

The Offer Shares will be offered at a fixed subscription price of NOK 7.50 per
share (the "Offer Price"). 

Use of proceeds:
The Company intends to use the net proceeds from the Private Placement and the
Retail Offering to support the next phase of the Company's growth, including
necessary and strategic improvements to the Company's facility at Rødøy, working
capital and general corporate purposes, including repayment of short-term loans.

Pre-commitments:
The Company's largest shareholder, Gigante Havbruk AS (holding directly and
indirectly 61.55% of the outstanding shares in the Company and represented on
the board of directors (the "Board") by Kristian Lorentsen) has, subject to
certain conditions, pre-committed to subscribe for Offer Shares for NOK 150
million in the Private Placement. Gigante Havbruk AS is pursuant to the
pre-commitment guaranteed an allocation of such number of Offer Shares in the
Private Placement that is necessary to ensure that Gigante Havbruk AS and
Kapnord AS maintains, directly and indirectly, a minimum shareholding of 50.01%
in the Company following completion of the Private Placement, Retail Offering
and Subsequent Offering (as defined herein and if relevant). The final
pre-commitment amount for Gigante Havbruk AS may thus be adjusted based on
investor interest in the Private Placement.

The following primary insiders have, subject to certain conditions,
pre-committed to subscribe for, and will be allocated, Offer Shares in the
Private Placement for the following amounts (jointly with Gigante Havbruk AS,
the "Pre-committed Investors"):

o Liv Monica Stubholt (chairperson of the Board), pre-committing NOK 1,000,000