Bakkafrost P/f

Investor Presentation • Jun 6, 2023

Bakkafrost Scotland presentation

06 June 2023

WELCOME TO SCOTLAND

Scotland Video

you will see today this area is known for:

- Torridon National Park to the North is an ancient and enchanting wilderness of water and rock, parts of the rocky landscape are over 2,600 million years old

• scenic drives
• woodlands and iconic species

Loch Torridon

OUR PILLARS AND VALUES

OVERVIEW

			HEALTHY LIVING
Previous CMD 7 sites Capacity 10.7k m3 6.0m @ 85g	Current sites (+3rd 4 parties) Capacity 22k m3 11m @ 150g+	2 sites Capacity to 62k+ m3 15M @ 500g	5 Years
42 active sites	37 active sites 69kT Consent (total consent: 86kt)	37 sites (6 prospects) Consent opportunity 55kT production
2 Processing facilities 2 Harvest stations Capacity 185T/day	2 Processing facilities 2 Harvest stations Capacity 185T/day	Primary / secondary facilities Integrated Capacity 405+ T/day
2,100 m3 Harvest 150T/hr Delousing 2500 m3 FW treatment	2,840 m3 Harvest 200T/hr Delousing only 6,500 m3 FW / FLS	5,000+ m3 Harvest 200T/hr Delousing only 6,500+ m3 FW / FLS
610 fte 49T/fte	535 fte 55T/fte	610+ fte >90T/fte

FRESHWATER & FARMING TRANSFORMATION

CASE STUDY HEALTHY LIVING MULTI AWARD WINNING NATIVE HEBRIDEAN • Determine USP's, Champion & chef endorsement • Broodstock programme

Refresh

Sales

• Further Develop
• Multi award winner • Genetics - continuous QTL evaluation and develop unique attributes

Grow

1 2 3

Developing the story & Positioning

• Raise the profile

Drive Sales

new channels

CASE STUDY HEALTHY LIVING DUAL TREATMENT – FW / FLS IS A GAME CHANGER

Gentle and efficient treatment solution with a focus on fish welfare

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LARGE SMOLT STRATEGY DELIVERING LARGE HEALTHY SMOLT

Fairlie - Planning

8m smolt at 500g 32,300m³ capacity

29,300m³ capacity

FAIRLIE RAS HEALTHY LIVING DESIGN & PLANNING STAGE

Planning stage

• Pre-planning complete • Planning and ground works – est. Q2 2024

Production capacity

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Sustainability

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APPLECROSS RAS HEALTHY LIVING COMMISSIONING / UNDER CONSTRUCTION

19th Century Ancient crofting settlement,

1980's largest hatchery in Scotland,

Production capacity

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Sustainability

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APPLECROSS RAS HEALTHY LIVING BUILT UPON OUR 5 PILLARS OF SUSTAINABILITY

POST SMOLT 1 COMMISSIONING TIMELINE							HEALTHY LIVING
AP4-16 Completion Timeline		Month Ending:		Week Commencing:		Month Ending:
Key Milestone:	Jan-23 Feb-23	Mar-23 Apr-23	May-23	29-May-23 05-Jun-23	12-Jun-23 19-Jun-23	Jul-23 Aug-23	Sep-23
Construction Complete	100%
Power Supply & Commissioning			100%
Biofilter Maturation			100%
Water Supply			100%
Water Treatment Plant				100%
Ozone Generation & Injection					100%
Temperature Control System Sludge Transport System					100% 100%
Fish Transfer Line				100%
Alarm Systems					100%
Dosing Systems					100%
Mechanical Filtration				100%
Communications					100%
Fish Transfer into AP4-16 Commences				100%
Fish Transfer into AP4-16 Completes					100%
Fish Grading / Thinning into RAS 2						100%
Fish Transfer to Marine							100%
		Fish transfer -		Staged batching	We are here		12

APPLECROSS SITE

AFTERNOON PLAN

• Please remember this is a working site and Port, appropriate PPE must be worn (bump caps / high-vis vests) • Biosecurity is managed, but please keep to the • Photography is allowed • Marquee is the central point meeting point with
• planned route and within barriers
• refreshments available
• In case of emergency, Muster Point at coach parking

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16.55 Meet back in Marquee

17.00 Depart for Inverness

DISCLAIMER

This presentation includes statements regarding future results, which are subject to risks and uncertainties. Consequently, actual results may

differ significantly from the results indicated or implied in these statements. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, the fairness, accuracy or completeness of the information contained herein. Accordingly, none of the Company, or any of its principal shareholders or subsidiary undertakings or any of such person's officers or employees or advisors accept any liability whatsoever arising directly or indirectly from the use of this document.