Aker BioMarine

Earnings Release • Jul 14, 2023

Second quarter results for Aker BioMarine

Second quarter results for Aker BioMarine

14 July 2023: Aker BioMarine ASA (“Aker BioMarine” or “the company”) reports revenues of USD 88.6 million, up 21% from USD 73.4 million last year. Adjusted EBITDA was USD 21.5 million, flat from the second quarter of 2022.

Highlights second quarter:

- Continued year-over-year revenue growth for the Group

- Adjusted EBITDA of USD 21.5 million (USD 21.4 million)

- Good harvesting operations, tracking on par with last year

- Qrill Aqua and Superba delivers good volume growth, margins impacted by onboarding of new client, regional fuel price spread and temporary no production in Houston

- Brands delivered 9% YoY revenue growth

- Health claim for Superba approved in the South Korean market – preparing for re-launch

- Announced intention to change Group financial reporting and legal entity structure

- Delivery of the USV from Maritime Robotics after quarter end

- Protein factory in Ski, Norway completed on time and budget

“Aker BioMarine continues the year-over-year revenue growth, including good performance in our harvesting operations. Although sales have increased, margins declined compared to last year due to factors such as higher fuel costs, customer and product mix, and low production in our Houston factory. However, we view many of these factors as temporary and remain optimistic about the overall progress of our business”, said Matts Johansen, CEO of Aker BioMarine.

Outlook

For third quarter 2023 we expect Qrill Aqua and Superba revenues, as well as Brands revenues to be above same quarter last year.

We expect long-term average annual sales growth for Aker BioMarine to be in line with earlier communicated ambitions at around 15%.

At 09:00 CET today, the management hosts a webcast. Following the presentation, there will be a Q&A session, where written questions can be submitted to ir@akerbiomarine.com.

The webcasted presentation will be in English. To join, please use the link that is available at www.akerbiomarine.com/investor.

A replay of the presentation and Q&A session material will be made available soon after the presentation at the same web address.

For further information, please contact

Christopher Robin Vinter, VP IR & Corporate Finance

Mobile: +47 911 60 820

Email: Christopher.vinter@akerbiomarine.com

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

About Aker BioMarine

Aker BioMarine is a leading biotech innovator and Antarctic krill-harvesting company developing krill-derived products for consumer health and wellness as well as animal nutrition. The company has a strong position in its industry and is the world's leading supplier of krill, the natural, powerful and health promoting source of nutrients from the pristine waters of Antarctica. Aker BioMarine is listed on Oslo Stock Exchange (AKBM). More information is available at www.akerbiomarine.com.