Kaldvik AS: Approval of loan covenant waiver

31 Mar 2026 12:53 CEST

Reykjavik, 31 March 2026: Reference is made to the stock exchange notice
published by Kaldvik AS (the "Company") on 23 January 2026 with an update on the
Company's financial situation.

The Company has now successfully concluded the dialogue with its lenders, who
have accepted the following for the financial year 2026:
  * The EBITDA covenant is waived; and
  * The minimum liquidity requirement is reduced from EUR 10 million to EUR 5
million.

In addition, the lenders have accepted to increase the availability under the
revolving facility for 2026 by implementing a less conservative calculation of
the borrowing base, noting that the facility is still capped at EUR 90 million.

As part of the waiver process, the Company's largest shareholder will provide a
subordinated loan in the amount of EUR 20 million. The Company will continue to
monitor the financial situation on an ongoing basis in close dialogue with its
lenders and make necessary adjustments, if any, to ensure it has a satisfactory
financing going forward.

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 harvest, 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

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