Nordic Halibut AS — Investor Presentation 2021

Sep 30, 2021

Plans to grow harvest volumes to ~9,000 tonnes within 2030 – growth phase #2 initiated with land-based facility at Torjulvågen

New land-based facility essential for realistion of growth phase #2 towards 9.000 tonnes HOG

• New land-based facility at Torjulvågen will be phased into production from 2023/24
• An additional production facility will help to reduce production risk, in addition to provide additional volume to the existing facilities
• Traditional flow-through technology will be used as access to clean water with perfect temperatures for Halibut farming is easy accessible
• Aims to facilitate for production of broodstock & juveniles, as well as being an on-growing facility – before the fish is transferred to the nearby grow-out locations
• Aims to produce a minimum volume of 1.25 million juveniles per year
• Realisation of Nordic Halibut's new land based facility is currently ahead of initial plan enabling a possible progressed timeline towards the production target of 9.000 tonnes HOG

Juvenile production volume (delivered for on-growing)

New facility will add support to a large part of the value-chain – largely de-risking production

Broodstock Juveniles On-growing Grow-out Harvesting Sales

New land-based facility increases juvenile production capacity and significantly derisks early-phase production…

Land based building blocks in place to realise volume ramp-up to 9.000 tonnes HOG

Roe and juvenile production capacity in place to reach growth phase #1 of 4.500 tonnes HOG within 2026

Exponential growth in liters of roe produced expected due to flexibility in timing combined with newly developed databased algorithm

Juveniles are produced in three production rounds per year. With a new fully integrated facility combined with the state-of-the-art facility at Averøy the timing of production rounds can be spread across both facilities based on biological and operational needs creating flexibility across the value chain ensuring optimized biological performance

Land-based capacity that enables volume ramp-up to 9.000 tonnes HOG within 2030 secured

Once the new fully integrated facility at Torjulvågen is operational new grow-out sites will be added according to biomass capacity needs enabling volume ramp-up to 9.000 tonnes HOG…

All building blocks in place to produce 4.500 tonnes HOG in 2026

Located and growing in the North-West region

for Halibut farming Production capacity of 1.25 million juveniles p.a.

Perfect water conditions

NOHAL's first fully fledged land-based Halibut facility

Close to self-sufficient by utilizing its own renewable solar power