Statt Torsk ASA: Devaluation of biomass and delayed publication of 2022 annual report

05 May 2023 08:00 CEST

Statt Torsk ASA (STATT) announces that the release of the annual report 2022
will be postponed, expected to be filed no later than on 11 May 2023, and that
the date for release of Q1 2023 report is revised to the same date. The date for
our AGM will be maintained, on 25 May 2023. An updated financial calendar will
be released accordingly.

The delayed release of the 2022 annual report is due to a devaluation of the
biomass of approx. NOK 47 million as per 31.12.2022, due to a declined price
achievement of our farmed cod from NOK 44/kg (WFE) in Q4 2022 to NOK 36/kg (WFE)
in Q1 2023 and reduced weight of fish due to harvesting regime 1H2023.

Our price achievement in Q1 2023 can be explained by unsuccessful market
awareness of farmed cod, and ineffective sales strategies of part of our
production. We intend to revise our sales strategies.

The results of 2022 annual report including the devaluation, is expected to be
negative NOK 83,5 million.

Revenues in Q1 2023 was NOK 36,6 million, harvested tons 1,086, sold tons 1,005.


This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange notice
was published by Bjug Borgund, CFO, on 5 May 2023 at 08:00am CEST.

For more information; statt.no or contact:
Gustave Brun-Lie, CEO, gbl@statt.no
Bjug Borgund, CFO, bb@statt.no

Statt Torsk ASA: Financial calendar

FINANCIAL YEAR 2022
11.05.2023 - Annual Report

FINANCIAL YEAR 2023
11.05.2023 - Quarterly Report - Q1
25.05.2023 - Annual General Meeting
18.08.2023 - Half-yearly Report
17.11.2023 - Quarterly Report - Q3
16.02.2024 - Quarterly Report - Q4

This information is published pursuant to the requirements set out in the
continuing obligations.

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