THE KINGFISH COMPANY N.V. Maine Superior Court denies appeal by opposition Kats,Netherlands -August 29, 2023 :The Kingfish Company N.V. (the "Company"; OSE: KING), pioneer and leader in sustainable land-based production of yellowtail kingfish, is pleased to announce that an appeal of theMaine project has been rejected and the project's state permits have been upheld. This is the second appeal which has been rejected at the state level. KingfishMaine remains a fully permitted project asMaine's Superior Court has denied the latest appeal by the project's opposition, theRoque Island Gardner Homestead Corporation and Eastern Maine Conservation Initiative. TheMaine Superior Court has upheld theMaine Board of Environmental Protection's affirmation of Kingfish Maine's Site Location of Development Act (SLODA) and Natural Resources Protection Act (NRPA) joint permit. The SLODA/NRPA permit was issued by theMaine Department of Environmental Protection in 2021 and affirmed, on appeal, by theMaine Board of Environmental Protection (BEP) in 2022. This was Roque Island's second appeal denial, on the state level, in their continued attempt to stop the project. "The opposition from Roque Island continues to be unsuccessful in its appeals of the Kingfish Maine project. This latest appeal denial is a clear victory for Kingfish Maine and more importantly the residents ofJonesport ," saidMegan Sorby , Kingfish Maine Operations Manager. "Kingfish Maine will bring economic development to the Downeast region and that cannot be controlled by Roque Island. We are excited to celebrate thisSuperior Court victory with the community ofJonesport ." "We remain focused on the advancement of Kingfish Maine facility," saidKingfish Company CEOVincent Erenst . "This ruling by theSuperior Court underscores the continued work of ourMaine -based team to the success of this project and Kingfish's commitment to theJonesport community which has supported our project from its introduction." In its appeal, the Petitioners raised issues with what it claimed was the BEP's "failure to independently assess the project's impact on wildlife under NRPA." In its decision: "While Petitioners ask the court to vacate the Board's decision upholding both the NRPA and Site Law permit, Petitioners' challenge is based on the alleged violations of NRPA, and they mount no meaningful challenge to the lawfulness of the Site Law Permit (SLODA)." The Court concluded: "...the Board did not violate NRPA or otherwise act unreasonably by failing to independently assess the project's effluent discharges..." KingfishMaine is part ofthe Kingfish Company which currently produces 1,500 tons of high quality, high valueDutch Yellowtail at its Kingfish Zeeland facility inthe Netherlands . Expansion is currently underway and capacity inthe Netherlands will reach 3,500 tons in 2023. Once theJonesport Maine facility is fully operational, Kingfish Maine is projected to produce 8,500 metric tons of yellowtail. For media and investor inquiries, please contact press@the-kingfish-company.com ir@the-kingfish-company.comCompany News feed https://www.the-kingfish-company.com/news AboutThe Kingfish Company The Kingfish Company is a pioneer and leader in sustainable land-based aquaculture. Current annual production capacity at its Kingfish Zealand facility inthe Netherlands is 1,500 tons of high quality and high-value yellowtail kingfish. Expansion is underway and capacity inthe Netherlands is expected to reach 3,500 tons. KingfishMaine is now fully permitted by local, state and federal regulatory agencies. Production is based on advanced recirculating aquaculture systems (RAS), which protect biodiversity and ensure biosecurity. Animal welfare is paramount, and the fish is grown without use of antibiotics and vaccines. Operations run on 100 percent renewable electricity, sourced from wind, solar and biogas. The Company's facilities operate on sea water, avoiding wasting precious fresh water.The Kingfish Company's main product at present, the yellowtail kingfish (also known as ricciola/hiramasa/greater amberjack) is a highly versatile premium fish species, well known in the Italian and Asian fusion cuisines. Its products are certified and approved as sustainable and environmentally friendly byAquaculture Stewardship Council (ASC), Best Aquaculture Practices (BAP) andBritish Retail Consortium (BRC). It was the winner of the 2019 Seafood Excellence Award, and it is recommended as green choice byGood Fish Foundation .
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