Q1 2026 Trading Update

02 Apr 2026 02:35 CEST

FARMING


In Q1 2026, the harvest volumes for Bakkafrost's operation in the Faroe Islands
and Scotland were:

+-------------+--------+---------------------+--------------+-------------------
--+
|Region |Month | Q1 2026 | Q1 2026 | YTD 2026
|
| | | Harvest volume |Average weight| Harvest volume
|
| | |(thousand tonnes HOG)| (kg) |(thousand tonnes
HOG)|
+-------------+--------+---------------------+--------------+-------------------
--+
|Faroe Islands|January | 8.3 | 5.9 | 25.1
|
+-------------+--------+---------------------+--------------+-------------------
--+
| |February| 7.7 | 5.8 |
+-------------+--------+---------------------+--------------+-------------------
--+
| |March | 9.2 | 5.7 |
+-------------+--------+---------------------+--------------+-------------------
--+
| |Q1 total| 25.1 | 5.8 |
+-------------+--------+---------------------+--------------+-------------------
--+
| | | | |
|
+-------------+--------+---------------------+--------------+-------------------
--+
|Scotland |January | 1.3 | 6.0 | 6.2
|
+-------------+--------+---------------------+--------------+-------------------
--+
| |February| 2.1 | 6.3 |
+-------------+--------+---------------------+--------------+-------------------
--+
| |March | 2.8 | 6.6 |
+-------------+--------+---------------------+--------------+-------------------
--+
| |Q1 total| 6.2 | 6.4 |
+-------------+--------+---------------------+--------------+-------------------
--+

Based on preliminary numbers, Q1 2026 incident-based mortality costs in Farming
were:

· Faroe Islands:         0 mDKK
· Scotland:              2 mDKK

FRESHWATER

The smolt release in Q1 2026 was (in millions):

+-------------+-------+--------+
| |Q1 2026|YTD 2026|
+-------------+-------+--------+
|Faroe Islands| 3.9| 3.9|
+-------------+-------+--------+
|Scotland | 1.0| 1.0|
+-------------+-------+--------+

Based on preliminary numbers, Q1 2026 incident-based mortality costs in
Freshwater were:

· Faroe Islands:          0 mDKK
· Scotland:              15 mDKK

FISHMEAL, OIL AND FEED (FOF)
In Q1 2026, the volumes sourced and sold in the FOF segment were (in thousand
tonnes):

+--------+----------+----------+---------------+--------------+
|Month |Marine raw|Feed sales|Fish meal sales|Fish oil sales|
| |material | | | |
| |sourcing | | | |
+--------+----------+----------+---------------+--------------+
|January | 24.5 | 12.9 | 1.2 | 0.0 |
+--------+----------+----------+---------------+--------------+
|February| 20.5 | 10.4 | 0.0 | 0.0 |
+--------+----------+----------+---------------+--------------+
|March | 6.0 | 12.2 | 0.0 | 0.0 |
+--------+----------+----------+---------------+--------------+
|Q1 Total| 51.0 | 35.4 | 1.2 | 0.0 |
+--------+----------+----------+---------------+--------------+
| | | | | |
+--------+----------+----------+---------------+--------------+
|YTD 2026| 51.0 | 35.4 | 1.2 | 0.0 |
|Total | | | | |
+--------+----------+----------+---------------+--------------+

The full Q1 2026 report will be released on 19 May 2026 at 06:00 CET.

Contacts:
.    Regin Jacobsen, CEO of P/F Bakkafrost: +298 23 50 01 (mobile)
.    Høgni Dahl Jakobsen, CFO of P/F Bakkafrost: +298 23 50 60 (mobile)

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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