Bergen/Yokohama, April 27, 2026: In reference to the production update published
on April 9, 2026, Proximar is pleased to confirm that its syndicated bank group
has formally approved the requested covenant waiver. The waiver relates to the
covenant on average two-month sales volumes for the first quarter of 2026, which
was impacted by the revised first-quarter harvest plan as previously
communicated.
"We are grateful for the constructive dialogue with our syndicate banks
throughout this process. Their support reflects a strong and trusted
relationship, and we are working with high commitment to deliver on our
operational progress," said Joachim Nielsen, CEO.
About Proximar Seafood
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility and production at the foot of Mount Fuji in Japan. The
company inserted its first batch of eggs in October 2022 and carried out its
first harvest on 30 September 2024. Proximar's brand and logo (Fuji Atlantic
Salmon) were officially launched in October 2024 at our partner Marubeni
Corporation's head quarter in Tokyo. Through land-based salmon farming, using
high-quality groundwater secured close to Mount Fuji, the company produces fresh
Atlantic Salmon, harvested the same day. Proximar's location, near one of the
world's most important fish markets, implies significant advantages, both in
terms of reduced cost and carbon footprint.