Statt Torsk ASA

Business and Financial Review • Nov 12, 2021

12 NOVEMBER 2021 – Statt Torsk AS – third quarter 2021

12 NOVEMBER 2021 – Statt Torsk AS – third quarter 2021

Ramping up according to plan – biological production on track

Operational highlights and outlook:

•Rekvika in full production in July - 850.000 fingerlings transferred to sea

•Production performing well – steady biomass growth

•Entered into long term agreement for harvest and processing – covering Statts needs through 2023, and enabling value

added processing in 2022

•Prices for 2021-sales expected to be set within the next weeks

•500-600 tons WFE to be harvested from end November 2021 until mid-January 2022

•3,000 tons WFE to be harvested at Stad in 2022

Gustave Brun-Lie, CEO of Statt Torsk AS (“Statt”) comments:

“The production is performing well in both facilities. The biomass is healthy with the expected growth rate, feed conversion rate and mortality rate, supporting our cost and quality targets for the future.

Many exciting milestones are ahead of us the next coming months. We will start harvesting and processing at the end of November, at Stad. Our plant is ready, one year ahead of plan. Having inhouse control of the processing at Stad is part of plan to reduce our cost and gives us increased flexibility in harvesting.

In a few weeks we will have a first indication of what price we will achieve in the market, and how the market responds to our product. In close cooperation with Lerøy, we are now entering into concrete discussions with our customers. Our goal is to achieve prices that reflects the true uniqueness of the Statt cod. The oncoming harvest and sales of 500-600 tons will run until mid-January 2022.

We have applied for 1 additional location. We are ready to apply for 2 additional locations within a short period of time. In only 3 years, Statt will increase harvest volumes from 500-600 tons to 3,000 tons in 2022, 4,000 tons in 2023, towards the target of 12,000 tons annually from 2024.”

For more information, contact:

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

Bjug Borgund, CFO, bb@statt.no

About Statt Torsk AS

Statt Torsk AS is listed on Euronext Growth with ticker STATT and with operations in Stad municipality. The company produces and sells Atlantic cod. In 2016-2020, the company carried out two pilot productions to clarify whether commercial production was possible. The company is on its way to commercial production, and now has two sites in Vanylvsfjorden. The company has a target of 12,000 tonnes of WFE (Whole Fish Equivalent) annual production by 2024.

This stock exchange announcement was published by Bjug Borgund, CFO in Statt Torsk AS, on 12 November 2021 at 08:00 CET.