Kaldvík AS: Update on financial situation

23 Jan 2026 16:11 CET

Frøya, 23 January 2026: Reference is made to Kaldvik AS' (the "Company") Q3
2025 results, as published on 21 November 2025. Following the Q3 presentation,
multiple factors have negatively affected the outlook for the Company in Q1
2026, including but not limited to early harvest and external factors such as a
reduction in salmon prices.

As a result, the Company may be in risk of breaching one or more of its
financial covenants in its senior bank debt facility, in Q1 or at a later stage
in 2026.

For the purpose of preparing for a potential breach, the Company has initiated a
dialogue with its lenders and will request a covenant waiver.

The Company will revert with further information as soon as there are any
material developments.

For further information, please contact:
Vidar Aspehaug, CEO: +47 913 05 017 (mobile)

Information in this announcement is considered inside information pursuant to EU
Market Abuse Regulation (MAR) and subject to the disclosure requirements
pursuant to MAR Article 17 and Section 5-12 of the Norwegian Securities Trading
Act.

About Kaldvík AS
Kaldvík AS is the leading salmon farmer 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 customers with a sustainable premium
product.  Kaldvik  AS is dual-listed on Euronext Growth Oslo and First North
Iceland Growth Market. See https://www.kaldvik.is
(https://eur02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.kaldvik.i
s%2F&data=05%7C02%7Crobert.robertsson%40kaldvik.is%7Ccbce983f4362479c62bc08de5a8
4a83d%7C9e29ff0116524df4b980597627858398%7C0%7C0%7C639047723015749100%7CUnknown%
7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIj
oiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=NJePgVbYwGkSi8OZSIZUQmM59e%2FaGVzj
X5XL%2B8QDi8A%3D&reserved=0) for more information about the Company.

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