Kaldvik As · OSL:KLDVK

Kaldvik As — Ice Fish Farm AS — Q4 2022 Earnings Presentation

10 slides from Kaldvik As's earnings presentation, Feb 28, 2023

Slide 1: Ice Fish Farm AS Fourth quarter 2022 results
Ice Fish Farm AS Fourth quarter 2022 results 28. February 2023 Guðmundur Gíslason, CEO Róbert Róbertsson, CFO PRIVATE & CONFIDENTIAL
Slide 2: Ice Fish Farm Q4 Highlights and Recent Events
ICE FISH FARM Q4 HIGHLIGHTS AND RECENT EVENTS Revenues increased to NOKm 248,4 from NOKm 99,7 last year. Operational EBIT per kg of NOK 4,1 in the quarter. Premium certified salmon contract gave good price achievement for a relatively small size fish. Harvested volume in Q4 amounted to 3 150 tonnes
Slide 3: Q4 Results and Financial summary
Q4 Results and Financial summary Revenue Group (NOK’m) Harvested volume HOG (tonnes) Harvested volume 11 300 tonnes YTD HOG. 669,5 Total harvested volume excluding harvest volume in Laxar Fiskeldi 8.925 - in the period before consolidation (Jan – May) amounted to 8 925 5.451 tonnes YTD HOG. 322,8 -
Slide 4: Financial summary
Financial summary The acquisitions of Laxar Fiskeldi ehf and Búlandstindur ehf have Assets NOKm Equity ratio materially impact on the balance sheet in 2022. Equity 3.717 3.947 • Strong balance sheet with equity ratio of 62.4% 1.713 62,4% 61,3% 65,5% Assets 31.12.2022 30.9.2022 31.12.2021 31.12.2022
Slide 5: Agreement reached on refinancing
Agreement reached on refinancing Loan agreements Reached an agreement with DNB Bank ASA, Nordea Bank Abp, filial i Norge, Arion Banki hf and Landsbankinn hf for a long-term bank financing package of up to EUR 156.2 million The New Financing includes ▪ i) a EUR 60 million term loan facility for the r
Slide 6: Actions in place to improve operations
Actions in place to improve operations Harvesting and Capex for Smolt Sea Biomass build up Sales growth Increasing smolt With good smolt and Next 18 months we Preparing harvesting Capex budget for quality. right sizes at right time will build up biomass. capacity for up to 2023-2024 will aim at Inve
Slide 7: Improving operational performance on land
Improving operational performance on land Smolt production 2023 Vaccination agains ISA started Plan for 2023 for smolt production All fish from Q1 2023 vaccinated for ISA at land. Improve robustness of our smolt Quality control implementation All sites on land been evaluated by a third party, a proj
Slide 8: Farming – Operational Performance
Farming – Operational Performance Sea farming Q4 2022 Growth and harvest targets Good biological development in Q4 Full focus to make sure we have good biological status. • All production now done within production zones to Good growth of our 2022 generation. lower biological risk. Continue with rel
Slide 9: Outlook combined company | Focus on operation performance
Outlook combined company | Focus on operation performance Market Good opportunity globally for premium salmon Future Growth Forward prices are favourable . Focus is on improving quality and performance of the operations 10 000 tonnes license pending in application Harvest outlook Harvest in 2023 ~6

Ice Fish Farm AS — Q4 2022 Earnings Presentation on 6ix

Kaldvik As — Ice Fish Farm AS — Q4 2022 Earnings Presentation

Slide 1: Ice Fish Farm AS Fourth quarter 2022 results

Slide 2: Ice Fish Farm Q4 Highlights and Recent Events

Slide 3: Q4 Results and Financial summary

Slide 4: Financial summary

Slide 5: Agreement reached on refinancing

Slide 6: Actions in place to improve operations

Slide 7: Improving operational performance on land

Slide 8: Farming – Operational Performance

Slide 9: Outlook combined company | Focus on operation performance

Slide 10: PRIVATE & CONFIDENTIAL