Icelandic Salmon AS

Icelandic Salmon - Annual Report for 2023

Bíldudalur, 19 April 2023

Icelandic Salmon AS (Euronext Growth Oslo and First North Iceland: ISLAX) has

today published its integrated Annual Report for 2023, including sustainability

reporting and complete annual accounts with notes. The report is attached and

available on the company's website: https://arnarlax.is/investors/

"In 2023, Icelandic Salmon supplied the world markets with a record-breaking

17,919 tonnes of salmon, thanks to the dedicated work of our employees. Despite

facing many challenges this year - including macroeconomic changes, geopolitical

tensions, and biological obstacles - we prioritised the health and wellbeing of

our fish. Looking ahead, we are committed to sustaining this priority while

growing our operations," Bjørn Hembre, CEO of Icelandic Salmon and Arnarlax

says.

In Bjørn's letter, which in included in the report, he writes: "Salmon farming

holds great promise for Iceland, in terms of future jobs and economic growth.

During the past few years, we have seen significant tax hikes, and a new law

proposal is now in Althingi for final sanctioning. As a leading producer of

salmon, we are concerned that the uncertainty that these processes has

introduced could make it more difficult for Iceland to build this new pillar in

the country's economy. We remain committed, however, to work with policy makers

for a stable, mutually beneficial framework going forward."

For further information, please contact:

CEO Bjørn Hembre

Tel: +47 913 47 432

CFO Jónas Heiðar Birgisson

Tel: +354 414 0609

About Icelandic Salmon:

Icelandic Salmon is listed at the Euronext Growth. The company is the 100% owner

of Arnarlax ehf, the leading farming company in Iceland with their head office

in Bildudalur. The company is fully integrated, from egg to the fish is

delivered to customers in the market, with control over all parts of the value

chain.

See https://www.arnarlax.is for more information about the company.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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