Arctic Fish Holding

Earnings Release • Jan 27, 2022

Arctic Fish Holding ASA (AFISH) – Harvest estimates for 2022 and 2023

Arctic Fish Holding ASA (AFISH) – Harvest estimates for 2022 and 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR PURCHASE ANY OF THE SECURITIES DESCRIBED HEREIN.

Referring to Norway Royal Salmon ASA’s (“NRS”) stock exchange notice of 27th January 2022.

In connection with NRS’ updated harvest projections, Arctic Fish publish the most recent harvest volume updates for 2022 and 2023.

Arctic Fish estimate a harvest volume of 13 000t head-on-gutted (“HOG”) in 2022 and 13 000t HOG in 2023, in addition to previously communicated estimate for 2025 of ~24 000t HOG.

Further details will be given in connection with the Q4 presentation on the 23rd of February 2022.

For further information, please contact:

CFO Neil Shiran Thorisson, +354 8315300

Arctic Fish in brief

Arctic Fish (AFISH) has 23 100 tonnes of Maximum Allowed Biomass licenses (MAB)

to farm salmon and trout. The licenses are in the Westfjords of Iceland. Out of

the total license volume, 5 300 tonnes are for trout, that are not currently

being utilized and will be converted to salmon licenses in the ongoing application

process. Arctic Fish is one of the leading salmon farmers in Iceland and has an

attractive and sustainable setup of the licenses with active licenses in 3

fjords and applications being finalized in 2 additional fjords that can bring

the total MAB up to 31 900 tonnes in the coming years. The company owns a

state-of-the-art RAS hatching and smolt production that is the foundation of the

operations. Further investments are being made in smolt production and

harvesting that will contribute to the future growth of the company.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act