Bakkafrost P/f

Earnings Release • Oct 3, 2025

Q3 2025 Trading Update

Q3 2025 Trading Update

FARMING

In Q3 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|July |              6.1|              4.8|

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

| |August |              9.6|              5.2|

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

| |September|              9.7|              5.6|

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

| |Q3 total |            25.4 |              5.2|

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

| | | | |

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

|Scotland |July |              2.4|              5.1|

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

| |August |              1.6|              4.4|

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

| |September|              1.2|              4.7|

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

| |Q3 total |              5.3|              4.8|

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

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

Based on preliminary numbers, Q3 2025 incident-based mortality costs in the

farming segments are estimated to be:

· Faroe Islands:         0 mDKK

· Scotland:               59 mDKK     (mainly occurred in September at the

Portree farming site)

FRESHWATER

The smolt release in Q3 2025 was:

· Faroe Islands:        4.8 million

· Scotland:                3.3 million

FISHMEAL, OIL AND FEED (FOF)

In Q3 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|

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

-+

|July |    18.3 | 15.2 | 2.7 | 0.0

|

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

-+

|August |      5.9 | 17.1 | 1.2 | 0.0

|

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

-+

|September|    16.2 | 16.7 | 1.2 | 0.0

|

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

-+

|Q3 Total |    40.3 | 49.1 | 5.1 | 0.0

|

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

-+

The full Q3 2025 report will be released on 4 November 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 to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.