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Regulatory press release

Andfjord Salmon: Board Member Transitions to Key Operational Role in Construction

Andfjord Salmon Group
10.10.2025 08:30:01 CEST | Andfjord Salmon | Non-regulatory press releases

Andfjord Salmon (OSE: ANDF) today announced that Gro Skaar Knutsen is stepping
down from the company's board of directors to assume an operational role within
its large-scale construction activities at Kvalnes, Andøya. Her deep industry
expertise and leadership experience will be instrumental in driving the
company's ambitious development plans forward.

Following her resignation as CEO of Peab Bjørn Bygg in 2024, Gro Skaar Knutsen
has steadily increased her involvement with Andfjord Salmon through her work as
an external consultant. In her new role, she will lead initiatives aimed at
identifying and implementing efficiency measures, while creating synergies
across the construction process. A key focus will be securing repeatability
effects in the production of pools, ensuring continuity, cost optimization, and
continuous improvement in future expansion phases.

Gro Skaar Knutsen brings extensive leadership and technical expertise to
Andfjord Salmon. She previously served as CEO of Peab Bjørn Bygg, one of
Northern Norway's largest construction companies, and has held senior project
consultant and engineering roles at Sweco. She also has more than a decade of
experience as a trusted advisor to construction companies across Norway.

"We are delighted that Gro has chosen to take on a more hands-on role in our
operations. Her proven track record in large-scale construction projects and
strong leadership skills will significantly strengthen our ability to execute on
our growth strategy at Kvalnes," said Martin Rasmussen, CEO of Andfjord Salmon.

CONTACTS

* Investors: Bjarne Martinsen, CFO, Andfjord Salmon Group AS, +47 975 08 345,
bjarne.martinsen@andfjord.no
* Media: Martin Rasmussen, CEO, Andfjord Salmon Group AS, +47 975 08 665,
martin@andfjord.no

ABOUT ANDFJORD SALMON

Located at Andøya on the Arctic Archipelago of Vesterålen, Norway, Andfjord
Salmon is developing the world's most sustainable and fish-friendly aquaculture
facility of its kind. Through a proprietary flow-through system, Andfjord Salmon
combines the best from ocean and land-based salmon farming. In its first
production cycle, the company achieved an industry-leading survival rate of 97.5
percent, feed conversion ratio of 1.05, superior share of 91.1 percent, and
required 1 kWh to produce one kilo of salmon. For more information, see
www.andfjordsalmon.com - http://www.andfjordsalmon.com/.
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