Arctic Fish Holding

Earnings Release • Feb 12, 2025

Arctic Fish (AFISH): Q4 2024 – Another positive quarter to complete a strong year

Arctic Fish (AFISH): Q4 2024 – Another positive quarter to complete a strong year

Q4 was another positive quarter for the company and as a whole 2024 resulted in the highest operational EBIT in the history of the company and a profitable bottom line for the year.

Harvested quantities in the fourth quarter amounted to 3,456 tonnes compared to 2,529 tonnes for the same quarter last year.

Operational EBIT pr. kg in Q4 amounted to 0.61 EUR pr. kg compared to 1.65 EUR pr. kg last year.

Biological development and growth in the quarter developed as expected.

Long-term harvest volume guidance for Arctic Fish of 25,000 tonnes in 2029 was re-iterated, with sufficient smolt capacity being secured through internal smolt production and external smolt agreements.

The presentation materials are attached to this notice and can also be found on the company website: https://www.arcticfish.is/investor-relations/

A recorded presentation is also available from 9:00 am CET (08:00 am GMT) via

https://www.arcticfish.is/webinar/ and questions can be sent to ir@arcticfish.is.

Questions will be answered as soon as possible and subsequently posted on the website.

For additional interest and questions regarding the Q4 results, meetings can be requested with management.

For information, please contact:

Stein Ove Tveiten

Email: sot@afish.is

Tel: +354 843 9900

Baldur Smári Einarsson

Email: bse@afish.is

Tel: +354 690 1222

Arctic Fish in brief

Arctic Fish (AFISH) is a leading salmon farmer in Iceland with an attractive and sustainable value chain from smolt to sales. The production capacity for the company is 29,800 tonnes MAB (Maximum Allowed Biomass) and includes licenses covering 10 farming areas in 5 different fjords, all located in the Westfjords of Iceland. The company's value chain consists of a state-of-the-art RAS hatching and smolt production facility, attractive sea sites with high bearing capacity and high-energy equipment, and a newly completed harvesting facility with sufficient capacity to secure the utilization of the licenses and growth objectives for the company.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.