Kaldvik AS

KALDVIK AS (KLDVK): Announcement of Q1 2025 results and new refinancing package

KALDVIK AS (KLDVK) reports operating income in Q1 of EURm 48.4 (EURm 31.1),

while the operating profit/loss before fair value adjustment of biomass and

production tax was EURm -9.8 (EURm 2.4).

Harvest amounted to 6,383 tonnes in Q1 2025 (3,986 tonnes)

Web cast will be at 09:00 (CEST)/ 07:00 Icelandic time on 28 May 2025 on the

following link: www.kaldvik.is/live (http://www.kaldvik.is/live)

NEW REFINANCING PACKAGE

Further, Kaldvik has initiated a process to refinance the company through a new

debt package and equity and has received confirmation of a new and improved bank

financing package from its existing lenders.

In connection with the refinancing, it is a condition for the new financing that

the company raises a net cash amount of approx. EUR 45 million in new equity.

The company is in the process of launching such an equity raise, with strong

backing from its majority shareholder, Austur Holding AS.

Attached is the presentation and report for Q1 2025, which also includes further

information on the refinancing package. An updated company presentation has also

been uploaded to the company's website www.kaldvik.is.

Kaldvik, 28 May 2025

Contact: Robert Robertsson, CFO of KALDVIK AS:

+354 843 0086(mobile)

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject of the disclosure requirements pursuant

to section 5-12 of the Norwegian Securities Trading Act. This stock exchange

announcement was published by Róbert Róbertsson, CFO of Kaldvik AS, on 28 May

2025 at 07:00 CEST.

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