Slide 1: Q3 2025 Presentation
Q3 2025 Presentation 5 November 2025
Slide 2: Disclaimer
Q3 Presentation 2025 Disclaimer Cautionary note regarding forward-looking statements This presentation is the managements summary of the 3rd By their nature, forward-looking statements involve, and quarter of 2025, it includes forward-looking statements that are subject to, known and unknown risks,
Slide 3: Arctic Fish in brief
Arctic Fish in brief Q3 Presentation 2025 Arctic Fish (AFISH), listed at Euronext Growth The company's value chain consists of a state-of-the-art RAS market in Oslo, is a leading salmon farmer in hatching and smolt production facility, attractive sea sites with Iceland with an attractive and sustain
Slide 4: Highlights Q3 2025
Highlights Q3 Presentation 2025 Q3 2025 Harvested Volumes HOG Tonnes Revenue (‘000 EUR) 63,618 10,561 56,421 Record-high harvest volumes 7,211 Highest ever quarterly harvest volumes, as the company 5,401 28,963 20,675 3,407 harvested 5,401 tonnes compared to 3,407 tonnes Q3 2024 (Δ 59% YoY) 58.6% 46
Slide 5: Financials
Q3 Presentation 2025 Financials
Slide 6: Profit & Loss
Q3 Presentation 2025 Profit & Loss (EUR ‘000) Q3 2025 Q3 2024 YTD Q3 2025 YTD Q3 2024 2024 Operational revenue and other income 28,963 20,675 63,618 56,421 80,902 29.0 MEUR revenues in the quarter (20.7 MEUR Operational EBIT -6,561 936 -10,462 12,984 15,105 Q3 2024). The increase is volume driven as
Slide 7: Financial Position
Financial Q3 Presentation 2025 Position (EUR ‘000) Non-current assets 30.9.2025 142,249 30.6.2025 141,615 30.9.2024 138,597 31.12.2024 127,379 Current assets 120,760 104,838 99,458 122,537 Total assets 263,009 246,453 238,055 249,917 Equity 97,015 63,991 87,103 88,355 Non-current liabilites 142,487
Slide 8: Cash flow & Net interest-Bearing Debt
Cash flow & Net interest-Bearing Debt Q3 Presentation 2025 (EUR ‘000) Q3 2025 Q3 2024 YTD Q3 2025 YTD Q3 2024 2024 NIBD Development Opening Increase Decrease Closing NIBD beginning of period* -145,046 -118,628 -132,650 -114,289 -114,289 (‘000 EUR) Operational EBITDA* -4,095 3,115 -3,442 19,411 23,79
Slide 9: Capital Expenditures
Capital Expenditures Q3 Presentation 2025 Capital Expenditures have been focused on three main pillars throughout the value chain Expected CAPEX in 2025 is 16 MEUR and will be focused on seawater related equipment Smolt Production Seawater Operations Primary Processing Capital expenditure developmen
Slide 10: Volume Guidance
Volume Guidance Q3 Presentation 2025 The guidance for the harvested volume in 2025 remains Guidance for 2026 is 17.5 thousand tonnes unchanged from last quarter, and stands at 14.0 thousand tonnes in 2025, which is 31% more than was harvested in 2024 Harvested volumes Harvested volumes (HOG tonnes)
Slide 11: Appendix
Q3 Presentation 2025 Appendix
Slide 12: License Portfolio
Q3 Presentation 2025 License Portfolio Licenses by Fjord The license portfolio for the company is 29,800 tonnes MAB (Maximum Allowed Biomass) and includes licenses covering 10 farming areas in 5 different fjords, all located in the Westfjords of Iceland. Of Ísaf jarðardjúp the 29,800 tonnes, 27,000
Slide 13: Thank you
Thank you Q3 2025 Presentation