Operational update - Detection of off-flavor and corrective actions at the
Ningbo production facility

Nordic Aqua, a global pioneer in land-based Atlantic salmon farming, with its
first farm located in Ningbo, China, announces, due to overloading of the
purging unit, detection of high concentrations of the off-flavor compound
geosmin in approximately 190 MT (HOG) of fish ready to be harvested.

Geosmin is a naturally occurring compound known to be absorbed by fish in all
recirculating aquaculture systems (RAS). Although it is harmless to both fish
and humans, it can, in elevated concentration, negatively affect the taste of
the fish. The NOAP team has identified the root causes and is implementing both
immediate and long-term solutions to prevent future occurrences, including
enhancing our water filtration and management processes.

"Our Atlantic salmon has since its launch in April received very good feedback
in the market. However, following recent quality checks, elevated levels of
geosmin were identified in specific production sections. As a result, the
affected salmon, 190 MT HOG, will not be sold for human consumption but thus at
a substantially lower price," says Andreas Thorud, the managing director of
Nordic Aqua (Ningbo) Co., Ltd.

Mr Thorud continues, "Nordic Aqua does not compromise on quality and we
relentlessly seek premium products at our facility. Hence, the decision to
harvest is in line with our commitment to maintain the highest standards of
quality and safety for our consumers while ensuring that the affected product is
utilized responsibly".

Further, as a consequence of the incident, after harvesting the 190 MT (HOG),
the purging department (8 tanks) will be emptied, disinfected and refilled with
pure, cleaned water, and new salmon will eventually be moved to purging. As one
element of the incident was overstretching the purging capacity due to excellent
fish growth, purging department will be restarted in a controlled manner. This
will thus further impact the harvest volume for the whole 2[nd] half of 2024.

The alternative use of the 190 MT HOG and reduced harvest will negatively impact
revenue in the third quarter and the slower than planned harvest, will possibly
also influence the 4[th] quarter. NOAP will give an updated volume guiding for
2024 as a part of the Q2 presentation.

In parallel, the company is continuing its efforts, together with customers, of
building a long-term position with unparalleled freshness and high-quality
Atlantic salmon in the growing Chinese salmon market.

Ragnar Joensen, CEO, emphasize; "Nordic Aqua is in the forefront of the
development of land-based salmon farming, and learning and minor surprises is a
part of such development. Nordic Aqua has given focus on recruiting the best of
competence and experience and have chosen to go for the highest quality
partnership suppliers, such as AKVA Group and Skretting. This has again proven
to be a critical part of our strategies, as issues like this are dealt with, in
an efficient manner, based on deep and broad insight.

A full review of operations, biology, market development, the financials and
volume guiding will be presented in the second quarter presentation which will
take place on Thursday August 22.

For further information:

For further information please contact: CEO Ragnar Joensen

[email protected] Mobile +298 599 112

About Nordic Aqua:

Nordic Aqua is a Nordic land-based Atlantic salmon farming company, using
cutting-edge Nordic technology and expertise to set up the first fully
integrated and commercially scaled Recirculating Aquaculture System (RAS) farm
for Atlantic salmon located in Ningbo, China. Nordic Aqua is the first local
producer of truly sustainable and Super-fresh Atlantic salmon to the Chinese
market. The current business plan is for an annual production of 20,000 tons
HOG. Nordic Aqua Partners AS is listed at Euronext Growth under the ticker NOAP.