Aker Biomarine Asa · OSL:AKBM
Aker Biomarine Asa — Q1 2026 Earnings Presentation
22 slides from Aker Biomarine Asa's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Aker BioMarine ASA
Q1 2026 Aker BioMarine ASA April 30 th 2026
Slide 2: Q1 2026 highlights
Q1 2026 highlights • Revenues of USD 57.3 million (up 13% YoY) • Adjusted EBITDA of USD 12.5 million (up 34% YoY) • Human Health Ingredients: Revenues of USD 31.8 million (up 22%). Adjusted EBITDA of USD 14.9 million (up 27% YoY). • All- time - high krill oil sales – 26% YoY growth • Consumer Health
Slide 3: Quarterly revenue and Adjusted EBITDA (USDm)
Quarterly revenue and Adjusted EBITDA ( USDm ) Revenue EBITDA Adj. +13% +34% 56.8 57.3 13.4 55.2 55.3 12.5 50.8 12.1 10.7 9.4 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Note: 1) Aker BioMarine evaluates the performance based on Adjusted EBITDA. This metric is defined as operating profit befor
Slide 4: Operations
Operations &®)"AKER'BIOMARINE
Slide 5: Human Health Ingredients (USDm)
Human Health Ingredients ( USDm ) Commentary Revenue +22% 30.2 32.7 31.8 29.2 26.0 • Total revenue growth of 22% YoY • Krill oil revenues up 26% YoY to USD 29.3 million, all - time - high quarter for Superba 1Q25 2Q25 3Q25 4Q25 1Q26 • Mostly driven by volume, but also higher price Other ingredients
Slide 6: Consumer Health Products (USDm)
Consumer Health Products ( USDm ) Commentary Revenue 1 - 2% 28.7 28.1 28.9 28.1 28.1 24% 24% 25% 26% 24% Note: From Q1 2026 segment includes both Lang and Epion /Kori. Internal sales and profit between Lang and EPION eliminated in segment 1Q25 2Q25 3Q25 4Q25 1Q26 Revenue margin • Revenue down 2% YoY
Slide 7: Financials
Financials
Slide 8: Profit & loss statement
Profit & loss statement 1 Q1 2026 Q1 2025* FY 2025 USD million (Unaudited) (Unaudited) (Audited) Net sales 57.3 50.8 218.1 Cost of goods sold -31.6 -28.7 -120.3 Net sales Gross profit 25.7 22.2 97.8 ▪ Net sales up 13% YoY. Human Health Ingredients (HHI) segment up 22% on higher Superba volume and pr
Slide 9: Non-operational segment: Elim / other (Corporate cost)
Non - operational segment: Elim / other (Corporate cost) SG&A 1 including non - recurring costs ( USDm ) • SG&A of USD 6.8m, now also including cost in old Emerging Business segment • Transition Service Agreement income from Aker Qrill - 4.9 Company ceased as agreement is now terminated - 6.2 - 7.1
Slide 10: Working capital
Working capital Change in net working capital ( USDm ) 119 104 13 1 3 NWC 4Q25 Inventory Receivables Payables NWC 1Q26 • Net Working Capital up USD 15m in quarter, mainly driven by and other and other Nutra settlement reducing payables. Net working capital ( USDm ) 119 107 118 104 119 • Receivables
Slide 11: Investments
Investments Capex, tangible and intangible ( USDm ) 1 3.0 3.0 2.8 2.3 • Capex in the quarter mainly related to maintenance, capacity expansion and capitalization of development projects 1.4 • Ongoing feasibility study to evaluate long term capacity alternatives for Houston plant with limited investm
Slide 12: Cash flow
Cash flow Cash flow in the quarter ( USDm ) OCF of USD - 10,8 million 20 • Cash flow from operations of USD - 10.8 million • Driven by net working capital reduction due to settlement of 17 Nutra payment • Cash flow from investing • Capex in the quarter mainly related to maintenance, capacity expansi
Slide 13: Interest-bearing debt
Interest - bearing debt Interest - bearing debt 1) (USDm ) 4.7x • Net interest - bearing debt (NIBD) of USD 176 million 4.2x • Up from previous quarter on higher working capital and 4.0x refinancing costs 3.5x 196 • Bond loan redeemed and replaced with USD 175m term loan 3.6x 176 182 173 174 20 20 1
Slide 14: Balance Sheet
USD million Q1 2026 Q1 2025* FY 2025 Balance Sheet ASSETS (Unaudited) (Unaudited) (Audited) Property, plant and equipment 55.3 46.0 53.7 Property. plant and equipment Right to use assets 4.5 2.6 2.6 ▪ Mainly related equipment for Houston production. Protein investments are included in assets Intangi
Slide 15: Summary and Outlook
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Slide 16: Outlook
Outlook Operating segments Key corporate strategic priorities Continued growth and Human Health Ingredients improved profits • Following recent interest in the Human Health Ingredient business unit, the Company engaged Jefferies and Houlihan Lokey as investment banks to support the Company in Consum
Slide 17: Q&A
Q&A To submit questions, please send to ir@akerbiomarine.com 17
Slide 18: Appendix
Appendix
Slide 19: Cash flow
Cash flow 1 USD million- Q1 2026 Q1 2025* 2025 (Unaudited) (Unaudited) (Audited) Net profit (loss) -2.7 -2.8 -22.8 Cash flow from operations Tax expenses 0.0 0.5 Net interest and guarantee expenses 3.5 3.5 15.3 ▪ Negative cash flow from operations due to payment of nutra meal Interest paid -3.8 -4.0
Slide 20: Alternative performance measures (APMs)
Alternative performance measures (APMs ) First Quarter Year USD million 2026 2025 2025 Operating profit (loss) 3.9 0.2 12.8 Depreciation, amortization and impairment non-production assets 4.2 4.4 18.0 Depreciation, amortization and impairment production assets1 1.2 1.3 5.0 EBITDA 9.3 5.9 35.8 • Tota
Slide 21: Important information
Important information This presentation has been prepared by Aker BioMarine ASA (the "Company"). The presentation does not constitute or form part of, and should not be construed as, an offer, solicita tion or invitation to subscribe for, underwrite or otherwise acquire, any securities of the Compan
Slide 22: AKER BIOMARINE
ey AKER BIOMARINE