Nordic Aqua Partners - Operational Update

05 Jul 2024 20:48 CEST

Oslo, July 5, 2024:

Nordic Aqua, a global pioneer in land-based salmon farming, with its first farm
located in China, announces the production result from its first operational
quarter.

Highlights:

· Total harvest volume in second quarter of 523 tonnes HOG
· First commercial harvest commenced in mid-april and harvest distribution in
the quarter was:
· 43 tonnes in April
· 134 tonnes in May
· 345 tonnes in June

· Average weight was 4,54 kg HOG
· 99 percent of the harvest volume classified as superior quality salmon

"We are pleased about the highly sustainable biology, the low mortality and the
large share of superior quality. The production in the quarter was good, however
somewhat affected by starving and handling related to harvesting,", says Ragnar
Joensen, CEO.

In the current phase, Nordic Aqua is actively focusing on building market
distribution and brand exposure. The company is particularly working on the
establishment and development of lasting customer relationships in the important
premium segments in order to optimize the value achievement of our premium
product, Nordic PureAtlantic.

Based on volumes in the second quarter as well as current harvest data and
harvest plan, the company expects to harvest 2.800-3.000 MT HOG in 2024. This
corresponds to a volume of 2.300 - 2.500 MT in the second half of 2024, which
per se is somewhat higher than the annual normalised capacity of 4.000 MT for
Stage 1.

A full review of the first operational quarter, biology, market development and
the financials will be presented in the second quarter presentation which will
take place on Thursday August 22. CEO Ragnar Joensen, Managing Director Nordic
Aqua (Ningbo) Andreas Thorud, and CFO Tom Johan Austrheim will present the
results. Invitation will be sent via Newsweb.

For further information please contact: CEO Ragnar Joensen
ragnar@nordicaquapartners.com Mobile +298 599 112

Nordic Aqua is a Nordic land-based Atlantic salmon farming company, using
cutting-edge Nordic technology and expertise to set up the first fully
integrated and commercially scaled Recirculating Aquaculture System (RAS) farm
for Atlantic salmon located in Ningbo, China. Nordic Aqua is the first local
producer of truly sustainable and Super-fresh Atlantic salmon to the Chinese
market. The current business plan is for an annual production of 20,000 tons
HOG. Nordic Aqua Partners AS is listed at Euronext Growth under the ticker NOAP.

More information:
Access the news on Oslo Bors NewsWeb site

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