Bakkafrost P/f

Earnings Release • Jul 2, 2025

Q2 2025 Trading Update

Q2 2025 Trading Update

FARMING

In Q2 2025, the harvest volumes for Bakkafrost's operation in the Faroe Islands

and Scotland were:

+-------------+--------+-----------------+-----------------+

|Region |Month |Harvest volume |Average weight |

| | | | |

| | |(thousand tonnes)|(kg) |

+-------------+--------+-----------------+-----------------+

|Faroe Islands|April |              6.4|              5.1|

+-------------+--------+-----------------+-----------------+

| |May |              5.6|              4.9|

+-------------+--------+-----------------+-----------------+

| |June |              4.1|              4.8|

+-------------+--------+-----------------+-----------------+

| |Q2 total|            16.0 |              5.0|

+-------------+--------+-----------------+-----------------+

| | | | |

+-------------+--------+-----------------+-----------------+

|Scotland |April |              1.9|              6.2|

+-------------+--------+-----------------+-----------------+

| |May |              2.4|              5.8|

+-------------+--------+-----------------+-----------------+

| |June |              2.2|              5.6|

+-------------+--------+-----------------+-----------------+

| |Q2 total|              7.0|              5.9|

+-------------+--------+-----------------+-----------------+

All harvest volumes are provided in head-on gutted (HOG) equivalents.

Based on preliminary numbers, Q2 2025 incident-based mortality costs in the

farming segments are estimated to be:

· Faroe Islands:         0 mDKK

· Scotland:               27 mDKK

FRESHWATER

The smolt release in Q2 2025 was:

· Faroe Islands:        5.4 million

· Scotland:                0.9 million

FISHMEAL, OIL AND FEED (FOF)

In Q2 2025, the volumes sourced and sold in the FOF segment where (in thousand

tonnes):

+--------+----------------------------+----------+---------------+-------------

-+

|Month |Marine raw material sourcing|Feed sales|Fish meal sales|Fish oil

sales|

+--------+----------------------------+----------+---------------+-------------

-+

|April |   69.7 | 10.6 | 3.6 | 0.0

|

+--------+----------------------------+----------+---------------+-------------

-+

|May |   60.5 | 14.0 | 3.9 | 0.0

|

+--------+----------------------------+----------+---------------+-------------

-+

|June |   29.3 | 12.9 | 1.5 | 0.0

|

+--------+----------------------------+----------+---------------+-------------

-+

|Q2 Total| 159.5 | 37.5 | 9.0 | 0.0

|

+--------+----------------------------+----------+---------------+-------------

-+

The full Q2 2025 report will be released on 26 August 2025 at 06:00 CET.

Contacts:

.    Regin Jacobsen, CEO of P/F Bakkafrost: +298 23 50 01 (mobile)

.    Høgni Dahl Jakobsen, CFO of P/F Bakkafrost: +298 23 50 60 (mobile)

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.