Nordic Halibut AS – Interim Report Q1 2024

22 May 2024 07:05 CEST

Averøy, Norway, 22 May 2024

Nordic Halibut AS today publishes its interim quarterly report for Q1 2024. The
interim report and financial statement for Q1 2024 were approved by the Board of
Directors on 21 May 2024.

Q1 2024 Highlights

· Nordic Halibut continues to be well positioned to achieve long-term production
targets of 4,500 tonnes head-on-gutted (HOG) within 2026 and 10,350 tonnes HOG
within 2031

· Harvested 150 tonnes (135 tonnes HOG) with an average harvest weight of 4,9 kg
during the quarter

· Nordic Halibut is aligned with the strategic harvest plan, which emphasizes
biomass growth to support the adjusted commercial targets

· Registering an average sales price of 163 NOK/kg for Q1 2024

· In Q1 2024, Nordic Halibut achieved a superior quality rate of 99.7%

· Total revenue in Q1 2024 ended at NOK 22 million (-41% YoY)

· Available liquidity at period end was NOK 206 million

· In line with expectations, EBITDA came in at NOK -8.4 million and loss for the
period ended at NOK 22.3 million in total

· Thomas Scheele Berg has signed as new Chief Financial Officer (“CFO”),
effective from 1 August 2024

· Aina Røsseland started as Chief Sustainability Officer (“CSO”) 1 mars 2024

For more information, please see the attached report or contact:

CEO Edvard Henden edvard@nordichalibut.no +47 911 41 165 or CFO Kenneth Meyer
kenneth.meyer@nordichalibut.no +47 452 12 424

About Nordic Halibut AS:

Nordic Halibut is a leading farmer of Atlantic halibut located in Western Norway
and with headquarters in Averøy, Nordmøre. The Company has a fully integrated
and well-developed value chain from genetics to sales and has had a significant
breakthrough in early phase production. A growth plan to expand production
volumes is implemented with production target of 4,500 tonnes HOG within 2026
and 10,350 tonnes HOG within 2031. Nordic Halibut will create shareholder value
by pursuing value accretive organic growth through increased production.

More information:
Access the news on Oslo Bors NewsWeb site

619316_NOHAL - Interim Report Q1 2024.pdf