Arctic Fish Holding

Earnings Release • Nov 9, 2021

Strong performance in Q3 2021

Strong performance in Q3 2021

Arctic Fish had strong performance in the 3rd quarter of 2021. Already during 2021, the company has harvested and sold more salmon than in any year in the history of the company. The company has harvested 8,542 tonnes so far this year with a projected 11,500 tonnes to be the total harvested volume for the year.

The operational farming EBIT is 10.6 NOK pr kg and is the best performance within the year of 2021 and 9% improvement in EBIT compared to the previous quarter. The EBIT in the quarter is 27 MNOK and is 12 MNOK higher than in the previous quarter. The EBIT, year to date until the end of the 3rd quarter is 115 MNOK and the net profit is 117 MNOK for the same period.

The price achievement in the quarter was the major driver for the good operational farming EBIT with an average price achievement of 55 NOK pr. kg. for sold salmon in the quarter. Sold salmon accounted for 161 MNOK in the quarter and total revenue so far in 2021 amounts to around 430 MNOK.

The company will not have a formal presentation of the Q3 results and performance. Management has although prepared a presentation to highlight the operations in a presentation style document. The management offers shareholders and investors the possibility to discuss the published documents, for further information and scheduling of meetings contact: Neil Shiran Thorisson, CFO, nst@afish.is, +354 8315300

Attached is the presentation document and report that can also be found at the company website. https://www.arcticfish.is/investor-relations/ and https://www.arcticfish.is/presentations/