Ice Fish Farm AS Q2 2021 report

Guðmundur Gíslason, CEO Róbert Róbertsson, CFO

26 August 2021

Forward looking statements

This Presentation contains forward-looking information and statements relating to the business, financial performance and results of the Group and/or industry and markets in which it operates.

Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims", "anticipates", "believes", "estimates", "expects", "foresees", "intends", "plans", "predicts", "projects", "targets", and similar expressions. Such forward-looking statements are based on current expectations, estimates and projections, reflect current views with respect to future events, and are subject to risks, uncertainties and assumptions.

Forward-looking statements do not guarantee future performance and risks, uncertainties and other important factors could cause the actual results of operations, financial condition and liquidity of the Group or the industry to differ materially from this results expressed or implied in this Presentation by such forward-looking statements. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecast result will be achieved, and you are cautioned not to place any undue influence on any forward-looking statement.

PRIVATE & CONFIDENTIAL

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot assure you that our future results, level of activity, performance or achievements will meet these expectations. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Unless we are required by law to update these statements, we will not necessarily update any of these statements after the date of this

report, either to make them confirm to actual results or changes in our expectations.

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Table of content

Key Highlights

Financial performance

Growth and Premium build up plan

Appendix

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Highlights in Q2 2021

EBIT 13,2 NOK per kg in Q2 2021 compared to 4,4 NOK per kg in previous quarter. 2019 generation is giving good result on cost and quality

1.090 tons harvested in Q2 2021 compared to 340 tons in Q2 2020

Super Hot Post Smolt station in Kópasker started operations in July 2021, one year ahead of original plan from Q2 2020. Will deliver big smolts in Q3 2021.

The competition authority of Iceland approved Måsøval as new majority owner of Ice Fish Farm AS of June 2021. Exploring strategic opportunities between ICE FISH FARM and Laxar for the companies going forward.

License update:

Stöðvafjörður 7.000 tons got approval from Planning Agency and now expect license to be issued in Q3 2021. Seyðisfjörður 10.000 tons license

is flowing in Q4 2021, environmental report finished.

License update in Berufjörður was approved which secures four farming areas instead of three. This enables better utilization of the license.

New standing stock license of 400 tons was issued to our smolt station in Kópasker. And application for 2.700 tons is in process. New standing stock license of 1.800 tons was issued to our smolt

station in Þorlákshöfn, Isthor.

Picture taken at Kópasker just before house was

finished in July.

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Disclaimer

Ice Fish Farm ASA published this content on 26 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 14:41:01 UTC.