Arctic Fish Holding

Regulatory Filings • Oct 11, 2021

License Update for Arctic Sea Farm regarding Arnarfjordur

License Update for Arctic Sea Farm regarding Arnarfjordur

Reference is made to the applications of salmon licenses for up to 4,000 tonnes

maximum allowed biomass (MAB) in Arnarfjordur in the Westfjords of Iceland, as

disclosed in the Company's information document from 19th of February 2020.

Today, MAST (Iceland Food and Veterinary Authority) and Umhverfisstofnun (The Environment Agency of Iceland) have both advertised their proposal of new farming licences for Arctic Sea Farm a 100% owned subsidiary of Arctic Fish Holding AS, for 4,000 tonnes (MAB) in Arnarfjordur. This is a new license in a fjord and at a site that Arctic Sea Farm has not operated before.

This advertisement of the licence is the last step in the application process. Now stakeholders have until November 9th 2021 to comment on the licence and after that it should be issued. When the licence has been issued the company will hold, 27,100 tonnes (MAB) of licences; salmon licenses for 21,800 tonnes (MAB); and trout licenses for 5,300 tonnes (MAB) that is in the process of being converted to salmon.

For more information contact the Arctic Fish CFO: Neil Shiran Thorisson, nst@afish.is, +354 8315300