Statt Torsk ASA

Earnings Release • May 11, 2023

Statt Torsk ASA – First quarter 2023 Financial report

Statt Torsk ASA – First quarter 2023 Financial report

Stad/Oslo 11 May 2023

Best quarter on harvest and revenue, low price achievement

Operational highlights in the quarter:

• Sales MNOK 36,6

• Harvest 1,086 tons WFE

• Achieved price fell significantly below expectations, NOK 36 per kg/WFE

• Devaluation of biomass as a result of decreased price – MNOK 47 in 2022 accounts

• Q1 results negative MNOK 3,76 after fair value adjustments.

• Statt expects to harvest approx. 3,000 tons WFE in 2023 as a result of reduced weight.

Gustave Brun-Lie, CEO of Statt Torsk ASA comments: “The prices obtained for the products where we did not have long term agreement for were far too low. Sometime even lower than prices for wild caught fish. There are many reasons for this, but the fact is that we have not yet achieved our goal to differentiate our product from the other white fish products. Still, we have all reasons to believe that we will obtain higher prices throughout 2023”

For more information, contact:

Gustave Brun-Lie, CEO, gbl@statt.no

Bjug Borgund, CFO, bb@statt.no

This stock exchange announcement was published by Bjug Borgund, CFO in Statt Torsk ASA, on 11 May 2023 at 08:30 CET.