Bodø, Norway, 27 April 2026

The Board of Directors of Gigante Salmon is proud to announce that Kristian
Lorentsen will succeed Kjell Lorentsen as Chief Executive Officer. Kristian
Lorentsen has been involved in the development of Gigante Salmon since the
start. He is familiar with all aspects of the business, and his experience
ranges from CFO to fish farmer at the cage site. He has also been a member of
the Board since 2024. Kristian Lorentsen holds a master's degree in accounting
and auditing (NHH) and a bachelor's degree in economics and business law (BI
Norwegian Business School).

"The Board is happy that Kristian Lorentsen has accepted the position of Chief
Executive Officer at Gigante Salmon. The company values Kristian's relevant
experience, strong motivation and the continuity of the owners' commitment to
the company. The Board has worked intensively on the executive appointment, and
we have received support from external consultants throughout the process. The
Board looks forward to working with Kristian and his team", says Chair of the
Board Liv Monica Stubholt. 

"I appreciate the Board's confidence in me. I look forward to getting started on
the work of further developing the company from a strong starting point. I am
convinced of the great potential the company has going forward. 

It is both meaningful and motivating to have the opportunity to lead Gigante
Salmon. I have the coast and the seafood industry in my blood and have spent my
whole life in and around salmon farming. The company's mission is to address the
sustainability challenges facing the industry. This means working purposefully
on the environment, fish welfare and efficient use of resources - every day. I
accepted the role because I know I will be working with a strong team whom I am
proud to call colleagues. The office can plan and manage, but it is the people
at the farm who make it happen", says Kristian Lorentsen. 

Kjell Lorentsen has informed the Board that he wishes to step down from his role
as Chief Executive Officer, and the company has entered into a termination
agreement with effect from 1 May 2026. Kjell Lorentsen has also informed the
company's nomination committee that he is available as a candidate for the Board
at this year's general meeting. 

Kjell Lorentsen (68) says: "When I returned to the position of CEO in 2024, I
promised to lead the company through the construction project on little Rosøya.
The facility has now received its completion certificate, and the time has come
to pass the baton on."

The Board expresses its deep gratitude for his extraordinary efforts and
contributions to building Gigante Salmon. The company is today a leading player
in land-based aquaculture.

Kristian Lorentsen will take up the position of Chief Executive Officer at
Gigante Salmon and at the operating company Gigante Salmon Rødøy with effect
from 1 May 2026. He is currently on parental leave, and Kjell Lorentsen will
therefore act as acting Chief Executive Officer for Kristian Lorentsen until 31
July 2026.

In connection with his appointment as Chief Executive Officer, Kristian
Lorentsen will step down from the Board of Gigante Salmon and also resign from
his roles and positions in Gigante Havbruk and the ownership structure.

For further information, please contact:

Liv Monica Stubholt, Chair of the Board 
Telephone: +47 916 50 523 
Email: [email protected]

Benny Hansen, CFO
Telefon: +47 907 80 292
E-post: [email protected] 

Gigante Salmon AS:
Gigante Salmon is a land-based salmon farming company with its first production
facility under construction on Lille Indre Rosøy in Rødøy, Norway. The Company's
aquaculture concept is based on a flow-through system, combining the benefits of
conventional and land-based aquaculture while simultaneously eliminating issues
associated with conventional, sea based, farming. Visit www.gigantesalmon.no for
more information.

This information is subject to disclosure under the Norwegian Securities Trading
Act, §5-12.