Icelandic Salmon AS

Regulatory Filings • May 7, 2021

Icelandic Salmon increases smolt capacity

Icelandic Salmon increases smolt capacity

Bildudalur 7. May 2021

Arnarlax ehf, a fully owned subsidiary of Icelandic Salmon AS, has signed purchase agreements for two smolt/post-smolt facilities at Hallkelshólar and in Þorlákshöfn. The two facilities are an important strategic milestone for the group, allowing for production of up to 800.000 smolts in 2022 and 1,5 million smolts total output from 2023 onwards. Following the expected license conversion to salmon smolt production, the estimated increase in total harvest volume should be about 7.000 MT, based on the output from the two acquired facilities. Average weight of the smolts in 2023 is expected to be 250 gr., allowing Icelandic Salmon to better utilize the current license capacity and prepare for possible license increases to come.

CEO Björn Hembre says: “With this Icelandic Salmon reinforces it´s fully vertically integrated value chain. The two acquisitions give us an important capacity increase for smolt production, as well as the ability to produce larger smolt. This will further strengthen the foundation for Icelandic Salmon’s ambitious future sustainable growth targets”.

About Icelandic Salmon:

Icelandic Salmon is listed at the Euronext Growth. The company is a 100% owner of Arnarlax ehf, the leading farming company in Iceland with head office in Bildudalur. The company is fully integrated with control over all parts of the value chain.

For more information, please contact:

Björn Hembre, CEO.

Tel: +47 913 47 432

bjorn@arnarlax.is