Masoval AS — Earnings Release 2025

Feb 26, 2026

Måsøval AS Q4 25 Report

Måsøval AS Q4 25 Report

DESPITE A CHALLENGING 2025 MÅSØVAL HAS BUILT A SOLID FOUNDATION FOR 2026

Sistranda, 26.02.2026

Today, Måsøval announced its results for the fourth quarter and preliminary

results for the full year 2025. The Group reports a harvest volume of 8 684

GWT in the quarter, including 2 875 GWT from commercial co-location

agreements, bringing the total harvest volume for 2025 to a record high

harvest volume of 28 467 GWT.

During the fourth quarter, the Group experienced continued positive

development in key biological drivers:

· Increased capacity in treatment and harvesting facilities strengthened

preparedness and ensured operational control in a quarter marked by unusually

high sea temperatures and elevated lice pressure.

· 16% higher net growth in sea during quarter, driven by lower mortality and

improved fish welfare.

· The superior (SUP) share increasing to 89% in the quarter.

· Several initiatives implemented in 2025 strengthened our operational

resilience and position for continued growth.

"In 2025, we demonstrated strong operational control despite heavy lice

pressure and elevated sea temperatures. While biological performance depends

on several factors, we enter 2026 expecting that the positive trend will

continue, supported by the measures we are implementing and the steadfast

commitment of our competent team", said Helge Kvalvik, CEO of Måsøval AS.

Måsøval's CEO Helge Kvalvik and CFO Anders Hagestande will present the results

in Norwegian at 08:00 in Auditorium H2, Haakon VIIs gate 2, Vika. The

presentation can also be followed via this link:

https://qcnl.tv/p/RpeBiimFOS5xUpKqSb4nwg

Forward looking statements:

This release may be deemed to include forward-looking statements, including

statements relating to Måsøval's goals and strategies, salmon prices, the

ability to increase or vary harvest volume, production capacity, trends in the

seafood industry, restructuring initiatives, business prospects and

positioning with respect to market, demographic and pricing trends, strategic

initiatives, and the effects of any extraordinary events and other matters

(including developments in laws, regulations and governmental policies

regulating the industry, as well as changes in accounting policies, standards

and interpretations) on Måsøval's business and results. Forward-looking

statements are Måsøval's current estimates or expectations of future events or

future results. Actual results could differ materially from those indicated by

these statements because their realization is subject to many risks and

uncertainties. All forward-looking statements included in this release are

based on information available at the time of the release, and Måsøval assumes

no obligation to update any forward-looking statement.

Contacts

Anders Hagestande, CFO, Måsøval AS, +47 415 82 138,

anders.hagestande@masoval.no

Helge Kvalvik, CEO, Måsøval AS, +47 97 97 97 72, helge.kvalvik@masoval.no

About Måsøval

Måsøval is a fully integrated producer of Atlantic salmon with more than 50

years of operational experience. Based on the island of Frøya in Central

Norway, the company controls the entire value chain -from smolt production to

sea-based farming, harvesting, processing, and global sales.

This integrated model ensures full control, operational efficiency, and

consistent delivery of premium Atlantic salmon to the global market. Måsøval

is committed to sustainable growth, fish welfare, and long-term value

creation.

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication, through the

agency of the contact persons set out above, at 2026-02-26 06:00 CET.