Kaldvik AS: Harvest guidance update 2025

21 Jan 2025 22:21 CET

In Q3 2024, Kaldvik AS (the "Company") reported a harvest guidance of
approximately 15,000 tonnes for 2024 and 25,000 tonnes for 2025. The Company
harvested 6,668 tonnes in Q4 and a total of 14,965 tonnes for the financial year
2024.

Due to higher mortality caused by winter-wounds in the 2023 generation and less
growth than expected due to temperatures lower than expected and normal for the
period, the Company reduces the harvest guidance for 2025 with 3,500 tonnes to
21,500 tonnes.  The 2023 generation is the last generation without both the new
winter-wound vaccine developed for Kaldvik AS and the standard ISA vaccine.

Furthermore, in the recent months the Company has experienced higher mortality
than expected in connection with the release of smolts to the site Einstigi,
which as of 21 January 2025 is estimated to 721,000 smolts. The main reasons
identified so far are supersaturation during smolt transportation and
temperatures lower than expected for the period.

The Q4 2024 report will be released on 26 February 2025.

Contacts:

CEO
Roy Tore Rikardsen, CEO of Kaldvik AS
+354 791 0006 (mobile), roy.tore@kaldvik.is

CFO
Róbert Róbertsson, CFO of Kaldvik AS
+354 843 0086 (mobile), robert.robertsson@kaldvik.is

About Kaldvik:

Kaldvik AS is one of the leading salmon farmers in Iceland. Kaldvik AS has
a well-developed and fully integrated value-chain controlling all steps
from hatchery to sales, enabling the group to provide its customer with a
sustainable premium product.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act. The stock
exchange announcement was published by Róbert Róbertsson, CFO of Kaldvik AS, at
the time and date stated above in this announcement.

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