Gigante Salmon As · OSL:GIGA
Gigante Salmon As — Q2 2026 Earnings Presentation
18 slides from Gigante Salmon As's earnings presentation, Aug 18, 2026
Slide 1: Report for the Second Quarter of 2026
REPORT FOR THE SECOND QUARTER OF 2026 18th August 2026 CEO Kristian Lorentsen CIRO Rune Johansen
Slide 2: Important information and disclaimer
Important information and disclaimer This document is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into or fro m the united states ofamerica, australia, canada, japan, hong kong or south africa or to any resident thereof or any other jurisdiction w
Slide 3: Agenda
Agenda 1. Gigante Salmon in brief 2. Highlights 1H 2026 3. Operational update 4. Biological update 5. Financial update
Slide 4: Introduction to Gigante Salmon
INTRODUCTION TO GIGANTE SALMON PRODUCTION CAPACITY LAND-BASED FARMING ▪ Gigante Salmon is operating a land-based flow-through facility for salmon farming on Lille Indre Rosøy, located approximately 2.5h by boat from the Company’s HQ in Bodø 16,000 tonnes For the fish, the sea ▪ The Company’s unique
Slide 5: Key figures
KEY FIGURES Q2 YTD Harvest Volume (tonnes HOG) in the Quarter 653 1 584 Superior Grade (%) 72 % 74 % Realized Price 62 71 All-in production cost, including financing 107 94 Operational EBITDA - 13 710 - 295 Operational EBITDA/kg HOG - 21 - 0 Operational EBIT - 4 245 - 11 960 Operational EBIT/kg HOG
Slide 6: Key highlights - First Half of 2026: New CEO
KEY HIGHLIGHTS - First Half of 2026 New CEO from August 1 • Kristian Lorentsen assumed the role of CEO of Gigante Salmon on August 1, entering the position with strong motivation, humility, and respect for the responsibility. • Kristian Lorentsen was born into the industry and brings extensive exper
Slide 7: Key highlights - First Half of 2026: Operational Highlights
KEY HIGHLIGHTS - First Half of 2026 Operational Highlights • The Autumn 2024 generation represents a record generation for Gigante Salmon, with harvest volumes of 1,929 tonnes HOG (head-on gutted), compared to 930 tonnes HOG for the Autumn 2024 generation (test production). This development demonstr
Slide 8: Generation Autumn 2024, harvested in the first half of 2026
Generation Autumn 2024, harvested in the first half of 2026 HARVEST AVERAGE SUPERIOR FEED CONVERSION CO2 ENERGY PRODUCTION VOLUME WEIGHT SHARE RATE LEVELS CONSUMPTION COST1 1 584 2,9 74 % 1,31 1-2 3 94 TONNES HOG KG HOG CO2 MG/L KW/KG NOK/KG HOG Generation Autumn 2024, total after full harvest HARVE
Slide 9: Update on the Autumn 2025 and Autumn 2026 Generations
KEY HIGHLIGHTS - First Half of 2026 Update on the Autumn 2025 and Autumn 2026 Generations • Summer efforts related to the fish barriers have not produced the desired effect on fish health, and their impact on sludge ollection c remains unclear.Fish behaviourfollowing implementationhas not developeda
Slide 10: Update on the Autumn 2025 and Autumn 2026 Generations
Update on the Autumn 2025 and Autumn 2026 Generations Reference is made to the Company's stock exchange fish barriers, partial removal, or further modifications to the Autumn 2026 generation will experience delayed smolt stocking, announcement of 3 July, which described an improvement project barrie
Slide 11: Production scenarios: 5000, 5800, 6200 tonnes
Production: Production: Production: 5000 tonnes 5800 tonnes 6200 tonnes Base High Base High Base High —~ Gigante Salmon
Slide 12: Production scenarios: 5000, 5800, 6200 tonnes
Production: Production: Production: 5000 tonnes 5800 tonnes 6200 tonnes Base High Base High Base High —~ Gigante Salmon
Slide 13: Key highlights - First Half of 2026: Financial Highlights
KEY HIGHLIGHTS - First Half of 2026 Financial Highlights • The Group generated operating revenues of NOK 113.2 million in the first half of 2026. Operating profit (EBIT) was negative at NOK 19.8 million. • During the first half, investments of approximately NOK 87 million were made related to the co
Slide 14: Income statement - Gigante Salmon AS Group
Income statement Gigante Salmon AS - GROUP • Operating revenue of 40.7 MNOK, harvesting 653 tons HOG in Q2 • With 72% superior quality, realized price amounting to NOK 62/kg, in line with market price for salmon at the time of harvest
Slide 15: Balance sheet - Gigante Salmon AS Group
Balance sheet Gigante Salmon AS - GROUP
Slide 16: Income statement - Gigante Salmon Rødøy AS
Income statement Gigante Salmon Rødøy AS • Operating revenue of 40.7 MNOK, harvesting 653 tons HOG in Q2 • With 72% superior quality, realized price amounting to NOK 62/kg, in line with market price for salmon at the time of harvest
Slide 17: Balance sheet - Gigante Salmon Rødøy AS
Balance sheet Gigante Salmon Rødøy AS
Slide 18: Gigante Salmon
1 Gigante Salmon