Arctic Fish : Quarterly report Q3 2022

Arctic Fish

Q3'22 Presentation

16th of November 2022

Disclaimer

Cautionary note regarding forward-looking statements

This presentation is the managements summary of the 3rd quarter report, it includes forward-looking statements that reflect the Company's current views with respect to future events and financial and operational performance. These forward-looking statements may be identified by the use of forward-looking terminology.

These forward-looking statements are not historic facts. The forward-looking statements are not guarantees of future performance. The Company's actual financial position, operating results and liquidity, and the development of the industry in which the Company operates, may differ materially from those made in, or suggested, by the forward-looking statements.

The Company cannot guarantee that the intentions, beliefs, or current expectations upon which its forward-looking statements are based will occur.

By their nature, forward-looking statements involve, and are subject to, known and unknown risks, uncertainties, and assumptions as they relate to events and depend on circumstances that may or may not occur in the future. Because of these known and unknown risks, uncertainties and assumptions, the outcome may differ materially from those set out in the forward-looking statements.

These forward-looking statements speak only as at the date on which they are made. The Company undertakes no obligation to publicly update or publicly revise any forward-looking statement, whether as a result of new information, future events or otherwise. All subsequent written and oral forward-looking statements attributable to the Company or to persons acting on the Company's behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained elsewhere in this presentation.

1	Highlights for the period
2	Operational performance & Group financials
3	Key features
4	Growth projects
5	Outlook and summary

Highlights in Q3'2022

Solid biological performance and output targets surpassed

Smolt output in 2022 at 3,9 million smolt and overall structure and long-term growth maintained as planned, with 2 new farming areas this year.

Farming Operational EBIT of 9.8 NOK pr. kg

Slightly lower than the Farming Operational EBIT of 10.6 NOK pr. kg from Q3'2021.

Solid salmon prices in the quarter

Price achievement amounted to 58.9 NOK pr. kg.

Harvesting quantities

Harvested 1,968 tonnes in the quarter - a 32% decrease YoY.

Volumes for 2022 estimated to 9,400 tonnes and 2023 to 14,100 tonnes.

Production costs of 49.1 NOK pr. kg

Production costs have increased by 4.6 NOK pr. kg from Q3'2021.

Operational KPI's

Harvested volumes

In thousand tonnes, HOG

8,5
7,2
-15%
	2,9
		2,0
2021 YTD 2022 YTD	Q3'21	Q3'22

Revenue
MNOK
485,5
429,6
13%
		161,0
	116,0
2021 YTD 2022 YTD	Q3'21	Q3'22

Operational EBIT pr. Kg (Farming)

NOK pr. kg

19,9
	10,6	9,8
8,2
143%
2021 YTD 2022 YTD	Q3'21	Q3'22

• Arctic Fish has harvested 7.218 tonnes YTD, or approx. 15% less than at the same period last year.
• The mortality incident in Q1'22 has impacted the harvest volumes in the year.

• Revenues increased drastically which is due to improved market prices realized in first half of the year.
• Revenue has increased 13% YTD compared to the same period last year.

• The operations improved substantially, combining the two main factors, production cost stabilization and stronger market prices which resulted in the Operational EBIT developing emphatically.