Aker Biomarine Asa · OSL:AKBM
Aker Biomarine Asa — Q2 2026 Earnings Presentation
21 slides from Aker Biomarine Asa's earnings presentation, Jul 10, 2026
Slide 1: Q2 2026 Aker BioMarine ASA
Q2 2026 Aker BioMarine ASA July 10 th 2026
Slide 2: Q2 2026 highlights
Q2 2026 highlights • Revenues of USD 57. million (up 5% YoY) • Adjusted EBITDA of USD 12.9 million (down 4% YoY) • Human Health Ingredients: Revenues of USD 34.1 million (up 17%). Adjusted EBITDA of USD 15.9 million (up 14% YoY). • Krill oil sales with continued momentum delivering 21% YoY growth •
Slide 3: Quarterly revenue and Adjusted EBITDA (USDm)
Quarterly revenue and Adjusted EBITDA ( USDm ) Revenue EBITDA Adj. +5% - 4% 56.8 57.3 57.9 13.4 55.2 55.3 12.9 12.5 12.1 10.7 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 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 +17% • Total revenue growth of 17% YoY 32.7 31.8 34.1 • Krill oil revenues up 21% YoY to USD 31.5 million 29.2 30.2 • Solid volume growth • Price supported by product mix and higher share of capsulated oil • Stable gross margin 2Q25 3Q25 4Q25 1Q26
Slide 6: Consumer Health Products (USDm)
Consumer Health Products ( USDm ) Commentary Revenue 1 - 6% 28.1 28.9 28.1 28.1 26.4 24% 25% 26% 24% 23% Note: From Q1 2026 segment includes both Lang and Epion /Kori. Internal sales and profit between Lang and EPION eliminated in segment 2Q25 3Q25 4Q25 1Q26 2Q26 Revenue margin • Revenue down 6% YoY
Slide 7: Financials
Financials
Slide 8: Profit & loss statement
Profit & loss statement Net sales ▪ Net sales was up 5% from Q2-25. Net sales in the Human segment is up 17% due to higher volume and price due to product mix of Superba. The Consumer health segment is down 6% compared to same quarter last year. Cost of goods sold ▪ Stable gross margins in the Human
Slide 9: Non-operational segment: Elim / other (Corporate cost)
Non - operational segment: Elim / other (Corporate cost) SG&A 1 including non - recurring costs ( USDm ) - 4.9 • Higher corporate SG &A, driven by restructuring and - 6.2 preparations for potential HHI process that are adjusted out - 7.1 - 6.8 - 8.0 • Transition Service Agreement income from Aker Qr
Slide 10: Working capital
Working capital Change in net working capital ( USDm ) 119 1 12 126 18 NWC 1Q26 Inventory Receivables Payables NWC 2Q26 • Purchased 7,500MT of Nutra in quarter, driving increase in and other and other Inventory and Payables Net working capital ( USDm ) • Nutra settlement of last year’s purchase driv
Slide 11: Investments
Investments Capex, tangible and intangible ( USDm ) 1 3.0 3.0 2.9 2.3 • Capex in the quarter mainly related to maintenance, capacity expansion and capitalization of development 1.4 projects • 2026 capex expected to be somewhat above the 2025 level of USD 10 million 1 2Q25 3Q25 4Q25 1Q26 2Q26 Mainten
Slide 12: Cash flow
Cash flow Cash flow in the quarter ( USDm ) OCF of USD - 6.3 million 20 20 • Cash flow from operations of USD - 6.3 million • Driven by net working capital increase due to settlement of Nutra payment 7 9 • Cash flow from investing • Capex in the quarter mainly related to maintenance, capacity 3 expa
Slide 13: Interest-bearing debt
Interest - bearing debt Interest - bearing debt ( USDm ) • Net interest - bearing debt (NIBD) of USD 185 million 4.2x 4.0x • Up from previous quarter on higher working capital 205 196 3.8x 3.5x 182 3.6x 20 176 174 20 20 17 17 • NIBD/Adj. EBITDA of 3.8x • Well below leverage covenant of 5.5x under ne
Slide 14: Balance Sheet
Balance Sheet Property. plant and equipment ▪ Mainly related equipment for Houston production. Intangible assets and goodwill ▪ Customer contracts and development projects amortized according to plan. Development work, mainly related to algae and Lysoveta, is capitalized. Impairment assessment carri
Slide 15: Summary and Outlook
w Zz (“4 <z = fo) a a w 4 < Summary and Outlook
Slide 16: Outlook
Outlook Operating segments Key corporate strategic priorities Continued growth and Human Health Ingredients improved profits • Earlier this year, the Company engaged Jefferies and Houlihan Lokey as investment banks to support the Company in exploring certain interest in the Human Health Ingredient b
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 Cash flow from operations ▪ Negative cash flow from operations due to payment of nutra meal from 2025 purchase ▪ Interest paid includes interest on loan ▪ Change in working capital is mainly due to increased inventory including nutra purchase, and payment of nutra meal from 2025. Cash flow
Slide 20: 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 21: AKER BIOMARINE
ey AKER BIOMARINE