Icelandic Salmon As · OSL:ISLAX

Icelandic Salmon As — Corporate Update (May 2021)

16 slides from Icelandic Salmon As's corporate update, May 21, 2021

  1. Slide 1: Company update

    Company update Iceland, 21st May 2021

  2. Slide 2: Executive summary

    Executive summary 1 Iceland as a new fish farming region 2 Q1 2021 operational results 3 Ongoing initiatives and future outlook 4 Environmental 2

  3. Slide 3: Development of key Icelandic exports + salmon in the last decade

    Development of key Icelandic exports + salmon in the last decade 1.200 1.100 1.000 +953% 900 800 700 600 500 400 +4% 300 200 +3% 100 -7% 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Wild catch Salmon Number of tourists Aluminum Rebase index (2010 = 100) 3

  4. Slide 4: Salmon now represents >10% of the total seafood exports from Iceland

    Salmon now represents >10% of the total seafood exports from Iceland Value of seafood over total exports Share of salmon over seafood exports 10,9% 9,6% 3% 7,0% 39% 5,4% 27% 4,1% 2,2% 2,6% 1,8% Wild catch Aquaculture 2013 2014 2015 2016 2017 2018 2019 2020 Aquaculture production in Iceland (2015 – 2

  5. Slide 5: Icelandic Salmon one of the 10 largest Icelandic listed companies

    Icelandic Salmon one of the 10 largest Icelandic listed companies Market capitalization – All Icelandic listed companies (NOK million) 45,355 14.069 6.880 6.804 4.986 4.722 4.291 3.630 3.529 3.518 3.428 3.182 3.109 2.885 2.873 2.271 2.244 2.012 1.976 1.448 1.297 895 288 Market capitalization – Salmo

  6. Slide 6: Executive summary

    Executive summary 1 Iceland as a new fish farming region 2 Q1 2021 operational results 3 Ongoing initiatives and future outlook 4 Environmental 6

  7. Slide 7: Q1 2021 operational results

    Q1 2021 operational results Positive results driven by improved operations and increasing salmon prices KEY RESULTS1 Q1 2021 Q1 2020 FY 2020 Improved operation Operating income (NOKm) 178 280 662  Improved margins driven by lower cost level, good capacity Operational EBIT (NOKm) 4 22 -49 utilizatio

  8. Slide 8: Executive summary

    Executive summary 1 Iceland as a new fish farming region 2 Q1 2021 operational results 3 Ongoing initiatives and future outlook 4 Environmental 8

  9. Slide 9: Agreement for 2 smolt/post-smolt facilities

    Agreement for 2 smolt/post-smolt facilities Facility Location Description Potential combined capacity Million smolt capacity p.a.  Station originally built as a smolt facility in 1986 under Norwegian standards +1.5  Current license for 100 MT of Arctic char from MAST and 20 MT from UST  Plan is t

  10. Slide 10: Team strengthened in key operational and strategic positions

    Team strengthened in key operational and strategic positions The new members have diverse education on all levels and a wealth of experience in the industry Kjersti Haugen  Chief Sales Officer from 06.04.21. Chief Sales Officer  She has a long history from the seafood industry working within logis

  11. Slide 11: License applications and regulatory matters

    License applications and regulatory matters Ísafjörður (10.000 t MAB) Arnarfjörður (4.500 t MAB)  All licenses on hold  Currently being processed by the Planning Agency  MAST is reviewing work procedures in Planning Agency  Expecting a final decision before end of next year. around the reports f

  12. Slide 12: Arnarlax now employs 14% of the local population in the municipalities of Vesturbyggð and Tálknafjarðarhreppi

    Arnarlax now employs 14% of the local population in the municipalities of Vesturbyggð and Tálknafjarðarhreppi Social impact Education Tax footprint (ISK million) 527 423 338 93 118 58 2018 2019 2020 State Municipalities 12

  13. Slide 13: Executive summary

    Executive summary 1 Iceland as a new fish farming region 2 Q1 2021 operational results 3 Ongoing initiatives and future outlook 4 Environmental 13

  14. Slide 14: All sites now ASC certified, and the company will release its own sustainability report

    All sites now ASC certified, and the company will release its own sustainability report tracking key environmental KPIs All sites are ASC certified Arnarlax preparing own sustainability report Harvested 2020 Number of Active sites Fjord ASC certified (HOG) de-liceings1 Hringsdalur Arnarfjörður 3,50k

  15. Slide 15: Initiatives to reduce carbon footprint

    Initiatives to reduce carbon footprint Arnarlax has recently switched a significant part of volume from air freight to marine transport to service the US market  Arnarlax has over the last few months restricted use of air freight and switched to sea transport with Eimskip to service the US market.

  16. Slide 16: Arnarlax ehf

    Arnarlax ehf Strandgata 1, 465 Bildudalur Iceland Private & confidential

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