Earnings Reports (AKBM Annual Report 2025 1)

Key Figures, Highlights Milestones and CEO Letter

Annual Report

1. Introduction

Table of contents

Annual Report - 2025

2

PART 1

PART 2

THIS IS AKER BIOMARINE

Letter from the CEO

SUSTAINABILITY

STATEMENT

Environment 26

Social 33

Governance 41

FINANCE

Company presentation

Organization Strategy

9

18

1. This is Aker BioMarine

Annual Report - 2025

3

PART 1

THIS IS AKER BIOMARINE

Letter from the CEO

‌A year of execution, momentum and responsible stewardship

2025 was a year of solid execution and continued momentum for Aker BioMarine. Building on the strategic transformation completed in 2024, we entered the year with a clearer focus, a leaner operating model, and a foundation for profitable growth in human health and nutrition.

Throughout the year, we delivered revenue growth and significant improvements in profitability. Strong performance in Human Health Ingredients, improved operational leverage, and disciplined cost management contributed to solid earnings growth, even as market conditions remained demanding and uncertainty persisted across global markets.

At the same time, 2025 reinforced a fundamental principle for our business: longterm value creation depends on responsible stewardship of marine resources. As expectations toward industry accountability continue to rise, we remain committed to demonstrating that sustainable fisheries management and commercial success go hand in hand.

Human Health Ingredients remained the primary driver of value creation in 2025. Demand was strong across multiple regions, resulting in volume growth, improved price mix, and a more diversified customer base. The segment delivered sustained year-over-year growth and continued margin expansion, reflecting both commercial momentum and improved operational efficiency.

A key milestone during the year was the successful launch of the Sports Research krill oil product in the U.S., which reached Costco shelves toward the end of the year. The initial market response has been very encouraging and confirms both the strength of consumer demand and our ability to execute large-scale, complex launches in close partnership with leading global customers.

During the year, we also secured significant new supply agreements for Superba Krill Oil. These agreements strengthen the long-term outlook for the segment and reinforce our position as a trusted supplier of high-quality, science-backed krill ingredients.

Consumer Health Products delivered stable performance through the year, with revenues broadly in line with the prior year, reflecting shifting demand patterns and a more cautious retail environment. While some channels experienced softer demand, the business demonstrated resilience, supported by stable margins, good cost control, and continued momentum in selected key accounts. Over time, we expect this segment to continue to develop broadly in line with underlying market growth.

Innovation and science remain central to our long-term strategy. In 2025, we continued to advance our ingredient portfolio and scientific pipeline, including the initiation of a human clinical trial on Lysoveta. This marks an important step toward future brain-related claims and further strengthens our phospholipid-based technology platform.

Building on the introduction of Revervia, we continued to strengthen our algae-based omega-3 platform and its role within our broader portfolio. Together with our krill-based ingredients, this supports a more diversified and future-ready offering aligned with evolving customer and consumer needs.

During the year, we also deepened our scientific understanding of emerging health trends. The increased use of GLP-1-based therapies has brought renewed attention to the importance of maintaining muscle strength, metabolic health, and adequate nutrition during weight loss. Our work in this area reflects a broader commitment to evidence-based nutrition and to developing ingredients that support health outcomes beyond weight loss alone.

SUSTAINABILITY AND OCEAN STEWARDSHIP AS A STRATEGC FOUNDATION

Sustainability is not a parallel track to our business strategy. It is a prerequisite for its credibility and long-term viability.

In 2025 and into early 2026, Aker BioMarine and The Qrill Company took an active role in advancing global ocean governance through private-sector engagement. As a partner in the Ocean Stewardship Initiative, launched by the Sustainable Markets Initiative, we support efforts to translate global ocean commitments into practical action. The initiative's first objective is to support the establishment of one of the world's largest Marine Protected Areas in Antarctica, alongside a modern, science-based framework for krill fisheries management.

This approach builds on decades of precautionary, ecosystem-based management of Antarctic krill fisheries, characterized by conservative catch limits, continuous monitoring, transparency, and strict regulation. Supporting the proposed Antarctic Peninsula Marine Protected Area represents a meaningful contribution to the global ambition to protect thirty per cent of the ocean by 2030.

For industry, the key question is no longer whether stronger protection measures will be implemented, but how. We believe that constructive engagement by responsible companies is essential to ensure that conservation objectives are achieved while enabling sustainable use of marine resources where appropriate. This balance is critical to securing both environmental outcomes and resilient, long-term nutrition value chains.

GLOBAL PRESENCE AND RESPONSIBLE GROWTH

Our global footprint continued to strengthen in 2025. In Asia, Superba increased its

visibility through e-commerce initiatives such as Tmall's Double 11 campaign in China. We achieved regulatory firsts in Japan with approved skin health claims and received innovation recognition for Lysoveta in Australia, reinforcing our credibility in high-growth markets.

Across regions, we continued to invest in education, transparency, and science-based communication, recognizing that trust is built over time through consistency and evidence.

THE NEXT PHASE

At the corporate level, we continued to build a more efficient and resilient organization. A leaner cost base, improved productivity, and closer alignment between commercial, operational, scientific, and sustainability functions strengthened our ability to manage risk and adapt to evolving external conditions, including macroeconomic uncertainty and changing trade dynamics.

Our people remain at the heart of this progress. Their professionalism, collaboration, and commitment across regions and cultures are fundamental to our success and to our ability to deliver responsibly and at scale.

LOOKING AHEAD

2025 confirmed that the strategic choices we have made are delivering tangible results. We enter the next phase with stronger fundamentals, increased global momentum, and a clear focus on disciplined growth, innovation, and responsible stewardship.

Our Human Health Ingredients business has delivered solid growth over several years. Reflecting market interest in the business, we have initiated a process to explore strategic alternatives, as communicated in connection with our fourth quarter update, with the aim of progressing towards a potential transaction in 2026.

The current environment remains characterized by geopolitical and macroeconomic uncertainty, which may impact energy prices, supply chains, and demand across key markets. Increased volatility could affect markets such as the US, where we have both production and commercial activities.

With a robust portfolio, trusted customer partnerships, and an active role in shaping sustainable ocean governance, Aker BioMarine is well positioned to continue creating long-term value. Our ambition is clear: to deliver science-backed health solutions while contributing positively to the protection and responsible management of the ocean systems on which our business depends.

/Matts

Matts Johansen

CEO Aker BioMarine

‌About us

Aker BioMarine is a biotechnology company dedicated to advancing human health and nutrition. The company is a leading supplier of science-based specialty ingredients for dietary supplements, functional nutrition, and emerging health solutions.

Its operations are organized across three business areas: Human Health Ingredients, Consumer Health Products, and Emerging Business, each focused on developing high-quality, research-driven solutions for global markets.

Built on marine science, innovation, and strict quality standards, Aker BioMarine develops and delivers sustainable, krill-based nutritional solutions to customers worldwide.

Key non-financial figures 2025

244

employees working in Aker BioNarine

37%

reduction in emissions to water

0

fatalities or serious incidents

36%

women in VP-level leadership and above

100%

of big bags used in Houston were recycled, ensuring circularity in material use

O.sgoo

sick leave, stable over past three years

Adjusted EBITDA1 and margin

U3D nJiIlion on %›

188

1) 2023, 2024 and 2025 figures exclude discontinued operations lFeed Ingredients 2023 and 2024 and Understory (2023-2025). Aker BioNarine evaluates the performance based on Adjusted EBITDA. This metric is defined as operating profit before depreciation, amortization, write-downs and impairments, and special operating items. Special operating items include gains or losses on sale of assets, if material, restructuring expenses and other material transactions of either non-recurring nature or special in nature compared to

Aker arine around the world

Aker BioMarine is present all over the world from Australia to the US, with headquarters in Oslo, Norway.

‌Company structure

Aker BioMarine operates across three key business segments: Human Health Ingredients (HHI), Consumer Health Products (CHP), and Emerging Business (EB).

Aker BioMarine is a leading innovator in its industry, specializing in krill- and algae-based ingredients for human nutrition, dietary supplements, and advanced health solutions.

Reporting structure Annual Report 2025

Aker BioMarine ASA

Human Health Ingredients

Superba Krill

Revervia

Lysoveta

PL + Technology

Consumer Health Products

Lang Pharma Nutrition

Emerging Businesses

Epion Brands

AION

Understory

1. This is Aker BioMarine

|

Organization

Annual Report - 2025

10

Group Management

As of 31 December 2025

Our journey

2003-ZOO6

Saga Sea

Aker BioMarine puts its first krill vessel, Saga Sea into operations.

Eco-Harvesting

Eco-Harvesting technology allows Aker BioMarine to harvest krill in a way that safeguards biodiversity and limits Dy-catch

SUPERBA

The Su oerba krill line to bring phospholipid omega-3s to humans, is born.

2017-2020

Antarctic Endurance

A er BioMarine commissions a new, more environmentally friend ty vessel exclusively constructed for drill harvest.

AION

Aker BioMar ine launches AION, a new circ utarity company to recycle waste and re-use materiaIs.

Lysoveta

Aker BioMar me launches LYSOVETA, a new delivery platform based on LPC-bound EPA and DHA *rom kriII.

Invi (Understory›

Aker BioMarine launches INVI (Understory), a highly concentrated protein isolate with a protein purity above 90%.

2006-2012

QRILL Aqua

Aker BioMarine enters the aouaculture market with ORILL Aqua, a phospholipid-rich omega-3 *ish feed

La Manche

Aker BioMarine commissioned its secono vessel, La Manche It was put into operations in 2009

use

The company achieves the Marine Stewardshio Council (MSC) certificate, proving the strongest standards for sustainability in wild-caught fisheries.

2020-2021

Oslo Stock Exchange

Aker BioMarine transferred *rom Eu ronext Growth to a new listing on Norway's main market, the Oslo Stock Exchange.

Antarctic Provider

Aker BioMarine launches a new energy efficient support vessel, fitted out with efficiency improvements and environmentally focused technologies.

Climate and Decarbonisation

Committee (CDC)

*he CDC was estab fished to ensure we reach our decaroonization goals with a viable sustainable

business model. The CDC illustrates the dedication in the entire organization to reach ESG targets.

2012-2013

Antarctic Sea

Aker BioMarine adds Antarct ie Sea to its fleet

ORILL Pet

The company enters the pet market with the ORILL Pet orDduct line.

2022-2023

noraMarine (Revervia)

Aker BioMarine launches its first product beyond krill, FloraMarine Revervia) - algae oil for human consumption.

Understory Protein Plant

AKBM opened a plant in Ski, Norway, refining krill meal to yield a pure protein ingredient for human consumption.

PL+

Ne introduces >L+, a new delivery platform for enhanced bioavailability o* dietary supplement ingredients.

USV Deployed in Antarctica

Aker BioMari ne's new d done was deployed in Antarctica, where it wt fl contribute to a optimalization o*the harvesting and reducing emissions.

2015-2016

AWR

Aker BioMarine establishes the Antarctic Wildlife Research Fund (AWR) to promote and facilitate research on the Antarctic ecosystem.

SUPERBA Boost

Using its newest technology Flexitech, Aker BioMarine launches its first krill oil concentrate, Superba Boost.

Production Rant

Aker BioMarine acquires the Houston manufacturing facility and takes full control over its production.

2024-2025

Feed Ingredient Transaction

Aker BioMarine sold its ownership position in Feed Ingredients to American Industrial Partners and Aker ASA.

Supporting the Antarctic Peninsula I"1PA

Aker BioMarine strengthened its commitment to protecting Antarctica's marine ecosystems Dy supporting the innDle mentatio n of the Antarctic Peninsula Marine Protected Area, which would safeguard nearly 70% of the region.

Reducing our Carbon Footprint

Aker BioMarine advanced its decarbonisation efforts Dy transitioning to 100% renewable electricity at the Houston facility, effective from 1 january 2026.

egrated value chain

Krill Oil Production Research & Development Global Supply Chain Houston Circularity Sales & Marketing Customer Brands

* (/O2'o 50+ 2 000 MT 1O(/O2'o Ca. 60 •4OO m

Of global krill oil production

Our krill oil products have been used in 50+ human clinical trials

Distributed to customers and Of big bags in Houston warehouses in North & South used in production were America, Europe, Africa, Asia successfully recycled and Oceania

Countries we sell to

Capsules and soft gels with krill oil sold globally to customers last year

Purpose built oil extraction plant in Houston, TX

Testing, R&D, NPD and award-winning innovation

180 different shipping lanes connecting our global supply chain

Total company-wide recycling rate for big bags in 2025 reached 99,7%

Global B2B sales & marketing organizations

Ingredients and brands

Aker BioMarine's Human Health Ingredients portfolio includes the following brands:

Cg} SUPERBA/fril/"

Superba Krill is Aker BioMarine's flagship premium B2B ingredient brand, providing omega-3s (EPA & DHA), choline, and natural astaxanthin in a highly bioavailable phospholipid form. Its unique structure supports efficient nutrient absorption and reliable health benefits across multiple applications.

Supported by more than 50 human clinical trials and 135 scientific studies, Superba Krillo is a leading krill oil brand with documented benefits for cardiovascular, women's, skin, metabolic, and muscle health, as well as overall healthspan.

In 2025, Superba Krill remained a key part of Aker BioMarine's Human Health Ingredients portfolio, enabling partners to deliver differentiated, science-based products.

@ Revervia

Reverviao is derived from microalgae and offers one of the highest naturally occurring DHA concentrations on the market. DHA is essential for brain and eye health, particularly in early life, and supports cognitive function throughout life.

As demand for sustainable omega-3 solutions grows, Revervia offers a strong value proposition through its high-strength DHA profile, clean and allergen-free microalgae origin, and scalable, efficient manufacturing.

In 2025, Reverviao strengthened its market presence by reinforcing the scientific foundation supporting DHA, expanding its commercial reach through Aker BioMarine's global network, and increasing visibility at key international tradeshows.

0 LYSOVETA

Lysoveta is Aker BioMarine's brain health ingredient, designed for targeted delivery of EPA and DHA to the brain. Built on LPC-bound omega-3 technology, it enhances transport across the blood-brain barrier.

In 2025, Lysovetao strengthened its scientific and commercial position. A landmark clinical trial was initiated, and the product received external recognition, including the Innovation Award at the 2025 Complementary Medicines Australia Industry Awards and recognition in the Healthy Aging category at the Nutrition Industry Executive New Ingredient Awards.

Supported by strong patent protection, a differentiated delivery mechanism, and growing clinical evidence, Lysoveta is well positioned to meet increasing demand for evidence-based brain health solutions.

PL+T", Aker Biomarine's advanced phospholipid technology, enhances the absorption of other health ingredients. By significantly improving the bioavailability of key ingredients like omega-3s, CoQ1O and curcumin among others, PL+T" opens new market opportunities in areas such as heart health, joint health and cognitive support.

The PL+T" technology enables brands to develop more effective, premium formulations and expand their product portfolios into high growth health categories. PL+T" is redefining how nutrients are delivered and absorbed in the body.

In 2025, several customer projects were initiated, including a collaboration with Worwag that resulted in a human study demonstrating enhanced bioavailability of a krill oil-based milk thistle extract formulation.

Ingredients and brands

Aker BioMarine's Emerging Business portfolio1 includes the following brands:

KCRI

Kori Krill Oil is Aker BioMarine's consumer krill oil brand in the U.S., managed through the company's independent subsidiary Epion Brands Inc. The brand is distributed through major U.S. retail chains, including Walmart, Target, CVS, and Sam's Club. Through Epion's presence in the retail market, the company gains insight into consumer trends within the omega-3 supplement category.

‌' The company Aion AS is owned 100% classified as an associated company.

AION is a circular design and operations company that develops solutions to reduce waste and keep materials in circulation. The company works with industrial partners to design products for recyclability, improve material traceability, and establish systems for collecting and reprocessing materials into new products. AION was launched by Aker BioMarine in 2020 and supports the development of circular value chains across industries.

Ingredients and brands

Aker BioMarine's Consumer Brands segment includes the following brand:

PH A hN A N U T ftITI ON

Aker BioMarine acquired Lang Pharma Nutrition, Inc. in 2019, a company with more than 35 years of history and experience in the nutrition and dietary supplement industry. Lang Pharma is a key partner to the world's leading mass-market retail chains, with close to 200 different products on shelves of retailers, including Costco, Sam's Club, Walmart, Target, CVS, and Walgreens. The US vitamin and supplement industry is growing. Lang Pharma, with its lean, yet flexible market approach and responsive culture, is uniquely positioned to support Aker BioMarine's ambitions to expand the companys footprint in the US market.

Research and innovation

As a leading global supplier of krill-based ingredients, we are committed to exploring and advancing knowledge of krill oil nutrients and their biological effects.

Scientific research is the foundation of Aker BioMarine's krill-based business. Through its continuous investment in science, technology, and partnerships, the Company seeks to advance scientific understanding of marine nutrients and translate this knowledge into solutions that benefit human health.

After nearly two decades of operation, Aker BioMarine's research has played a key role in guiding how krill resources are harvested, processed, and applied across health-focused ingredients. In 2025, the Company continued to deepen its understanding of kriII's biological properties and convert that insight into clinically relevant innovations, strengthening its position within the global krill industry.

Science and innovation are central pillars of Aker BioMarine's strategy and approach to long-term value creation. In 2025, the Company continued to develop its internal research platform through a combination of internal competence building and active participation in international research collaborations.

Since 2006, Aker BioMarine's krill-based ingredients have been included in

approximately 200 scientific studies, reflecting the Companys sustained engagement with the academic community and its consistent focus on building a robust knowledge base through research.

Aker BioMarine's scientific output continued to expand in 2025, with new peer-reviewed publications contributing to a deeper understanding of krill oil and related technologies. Research priorities increasingly reflect evolving consumer health trends, with growing emphasis on healthy aging, brain health, muscle function, metabolic health, and exercise and sport.

ADVANCING BRAIN HEALTH RESEARCH: THE BOOMERANG PROJECT

In 2025, Aker BioMarine became a partner and steering committee member in Boomerang, a European research project selected for funding under the ERA4Health NutriBrain initiative. The project aims to support healthy cognitive aging through targeted nutritional and lifestyle interventions.

Boomerang brings together five partners, including universities in Norway, Germany, the Netherlands, and Ireland, alongside Aker BioMarine. Academic partners receive funding from their respective national

research agencies, while Aker BioMarine contributes USD 15O,OOO. The total project budget is approximately USD 2 million, of which USD 1.6 million is publicly funded.

Running from 2025 to 2028, the project includes interventional, observational, and mechanistic studies assessing both the individual and combined effects of B-vitamins and Lysoveta. One of four work packages comprises a clinical trial evaluating combined supplementation, with a focus on cognitive decline and markers of brain atrophy. During 2025, the consortium agreement was finalized and a formal project kick-off was held in October.

Aker BioMarine advanced several clinically relevant research programs during the year.

A human clinical trial on Lysoveta was initiated in 2025, marking an important milestone in its development and supporting the ambition to establish brain-related health claims. The study builds on a growing body of evidence suggesting that phospholipid-bound omega-3s may play a role in cognitive health and healthy aging.

New research published in 2025 demonstrated that krill oil supplementation

may limit the loss of muscle mass and strength during weight loss. The study showed improved preservation of both parameters in individuals undergoing dietary weight reduction. These findings strengthen the scientific rationale for krill oil in weight management and healthy aging applications, including in the context of GLP-1-based weight loss strategies.

Earlier findings related to joint health, autoimmune conditions, and skin health continued to be supported by additional analyses and growing scientific interest throughout 2025.

Aker BioMarine maintains a strong global position in patented technology for krill-based innovations. By 2025, the Company held 160 granted patents covering production processes and nutraceutical applications. This expanding intellectual property portfolio supports Aker BioMarine's continued innovation and longterm value creation across the human health portfolio.

Our key milestones 2025

NEW SUPPLY AGREEMENT WITH COSTCO

Aker BioMarine secured new business with Costco for the supply of Superba Krill Oil. The agreement is expected to position Costco among the company's three largest customers.

INDUSTRY COALITION FOR MARINE PROTECTION

Together with industry partners, including The Qrill Company from which we source Antarctic krill, we supported an unprecedented initiative to advance science-based marine protection measures in Antarctica.

PRESERVING MUSCLE DURING WEIGHT LOSS

New research highlighted the potential role of phospholipid-bound omega-3 from Antarctic krill in preserving muscle strength and mass during weight loss, including in the context of increasing GLP-1 use.

LYSOVETA WINS INNOVATION AWARDS

Lysoveta received multiple innovation awards, including recognition from Nutrition Industry Executive, validating its differentiated LPC-based omega-3 delivery platform.

SCALING CIRCULAR PARTNERSHIP WITH AION

We scaled our partnership with AION to strengthen sourcing, development, and end-of-life handling of bulk packaging, while increasing the use of recycled materials to reduce environmental impact across our operations.

ACADEMIC PARTNERSHIPS ON BRAIN HEALTH

We strengthened our research footprint by joining the Innovation Center for Neuroresilience at the University of Bergen and participating in the ERA4Health-funded BOOMERANG project, supplying Lysoveta to a European study on cognitive decline biomarkers.

RENEWABLEENEROYCERTlMCATEAOREEMENT INTHEU.S.

Aker BioMarine Manufacturing, LLC entered into a renewable energy certificate agreement supporting renewable electricity use at our U.S. production facility from January 2026 to June 2027.

Operational risk & opportunities

‌Below is an overview of the company's operational risks and opportunities. For a comprehensive risk and opportunity view, please see the financial risk in chapter 3 (Note 19 and the Board of Directors" Report).

Risks Impact Risk mitigation and management*

FUTURE SALES

OPERATIONAL BREAKDOWN

RETENTION OF KEY EMPLOYEES

CYBER AND INFORMATION SECURITY

ALGAE MARKET DEVELOPMENT

PUBLIC SCRUTINY RELATED TO ANTARCTIC KRILL HARVESTING

Increased competition from alternative sources of omega-3s, such as GPO plants and algae, and low-cost regions, such as China, could impact growth in the demand for krill products globally and also put pressure on prices.

An incident in our onshore facility in Houston due to technical issues, natural disasters or pandemic related could have serious operational, environmental, and financial impact.

Uncertainty from change and restructuring processes may lead to the loss of key employees critical to our operations. Difficulty in retaining and replacing specialized talent could impact business continuity, operational efficiency, and the execution of strategic initiatives.

An incident impacting either availability, integrity or confidentiality of critical business systems, which again impacts our ability to operate normally.

Unsuccessful production and/or sales growth of algae. impacting the ability to meet our strategic targets.

Negative perception of the sustainability of krill harvesting in Antarctica could negatively impact key decision makers in retailers and demand from end customers.

We work to increase awareness among our existing and potential customers to the benefits of krill. We employ local people that are close to customers and key decision makers in our larger markets that understand both the market dynamics and regulations. We continuously develop new research and science that underpins and supports the product claims and marketing messaging.

The HHI customer base has been significantly diversified over the last year, across customer types and regions, which makes us less vulnerable to short-term regulatory changes.

We mitigate this risk through investments in preventive maintenance and technology, in addition to conduct training, monitoring and compliance testing on a frequent basis, also with external parties. We have increased our product inventory safety stock in Houston to cater for potential downtime. We also have CMO agreements with alternative production facilities.

Direct communication with critical employees, competitive compensation & benefits, knowledge management (reduce dependence on personal know-how), employee / leadership development, training and succession planning, culture building, satisfaction surveys (monitoring), communication strategy related to restructuring and improvement programs.

Implemented a cyber security program to address both technological barriers, human barriers (awareness) and organizational barriers to reduce probability and impact of an information security incident. Continuous monitoring of cyber security risk.

The algae business has been positioned for growth through the introduction of a more cost-effective crude supply and expanded contract refining capabilities complementing the existing refining capacity in Houston, including a dedicated algae team.

Active participation in relevant policy and industry forums, transparent science-based communication, and close coordination with The Qrill Company to demonstrate precautionary harvesting practices and compliance with CCAMLR's ecosystem-based management framework, including support for marine protected areas.

*The management must do its best effort defined mitigating activities that can or should reduce the risk, but there is no guarantee that the risk will be significantly reduced or eliminated despite mitigating initiatives being implemented

Opportunities Impact Capitalize on opportunities

KRILL NUTRIENTS TO SUPPORT HEALTH AND NUTRITION

NEW KRILL-DERIVED PRODUCTS AND PRODUCTS BEYOND KRILL

GENDER EQUALITY

GROWING MARKET DEMAND FOR HEALTHY AND SUSTAINABLE FOOD.

PLATFORM EXPANSION

LOW CARBON INTENSITY IN PRODUCTS AND ENVIRONMENTAL FOCUS FROM CUSTOMERS.

UNLOCKING VALUE THROUGH AI

Increased understanding of the benefits of krill products to support healthy lifestyles and prevent lifestyle diseases can benefit society and our business.

Development and launch of new products without krill or krill products with added health and nutrition benefits increasing the value of krill raw material and broadening the product portfolio.

Companies where women account for over 15 percent of senior management show higher returns. This represents an opportunity for our company to ensure democratic representation and diversity in management.

Delivering high quality health nutrients in a sustainable way is both good for our business and society with a reduced carbon footprint.

Acquisitions of companies where we can leverage our global nutraceutical platform (capabilities and assets). This would drive growth beyond the krill category and unlock further potential in the business.

Consumer-driven carbon and environmentally friendly products and transparency in CO2 and usage of resources.

As a production company, AI is an enabler for more productive and efficient work across all functions and departments.

We invest in scientific studies to identify and substantiate benefits and marketing campaigns to increase public awareness of the benefits of krill nutrients for human and animal health and nutrition.

We have developed a new krill-derived product, LYSOVETA, for targeting delivery of nutrients to the brain, and we have launched a new algae product.

We have structured our recruitment and internal promotion processes to ensure equal opportunities, implemented performance reviews and a new leadership development program. Our top and middle management team has 36% women. We have an increased focus on recruiting women into middle management positions.

We work together with customers to focus on sustainability and increase awareness of marine ingredients as a source of sustainable nutrition.

We evaluate potential acquisition targets and assess mega-trends in the nutraceutical markets to identify strong strategic fits with our capabilities in science, supply chain, and global sales and marketing.

A thorough environmental declaration on our products together with an ambition to decarbonize our value chain. This is backed up by concrete measures and benchmarks and will be used to demonstrate improvements to the environmental footprint of our products.

The company is currently exploring and implementing value-creating AI tools on top of existing systems to remove or reduce manual work. There is a significant value potential to be captured.

METRICS AND TARGETS

Aker BioMarine has committed to sustainability targets as described in chapter 2.

Reporting framework and assessments

23

Sustainability in Aker BioMarine

21

PART 2

SUSTAINABILITY STATEMENT

Our Stakeholders 25

Environment 26

Social 33

Governance 41

‌Sustainability in Aker BioMarine

Aker BioMarine is committed to improving human health while minimising its environmental impact and supporting the health of the planet.

The Company operates with transparency, accountability and governance, with a focus on delivering high-quality marine products that support balanced and responsible nutrition. By maintaining a sound business foundation, Aker BioMarine aims for sustainable growth and long-term profitability.

Following the divestment of the Feed Ingredients business, Aker BioMarine no longer operates harvesting vessels. However, the Company remains closely engaged in the sustainable management of the Antarctic krill fishery. The Group exclusively sources krill from Antarctica, which forms the basis for the Companys products and represents the majority of its revenue. In collaboration with our supplier, The Orill Company, Aker BioMarine continues to support practices that help maintain a healthy krill population. In 2025, the Company actively advocated for the establishment of a Marine Protected Area around the Antarctic Peninsula (Domain 1) and entered into a collaboration with the Sustainable Markets Initiative, founded by King Charles III, to strengthen private-sector engagement in ocean stewardship. A key initial objective of this collaboration is to support progress toward the adoption of

the proposed Domain 1 MPA. This remains an important part of our sustainability priorities moving forward.

Aker BioMarine takes systematic steps to reduce its climate footprint across operations and the value chain. The majority of the Company's greenhouse gas emissions occur upstream in Scope 3, primarily related to purchased krill raw material. The Company therefore collaborates closely with The Qrill Company to support emission reductions and operational improvements.

The Company also works to reduce emissions from its own operations by improving energy efficiency and transitioning to cleaner energy sources. From 1 January 2026, the Houston production facility will operate on renewable energy, resulting in an expected reduction of Scope 2 emissions of approximately 90 percent.

Aker BioMarine works further to reduce resource use and waste generation in its own operations. The ambition is to achieve full circularity in principal waste streams by ensuring materials are reused, recycled or repurposed.

As part of its sustainability ambitions, the Company regularly assesses progress and

develops practices to strengthen performance over time. Aker BioMarine is committed to responsibly utilizing resources and innovating to maximize value while minimizing environmental impact.

Aker BioMarine reports its greenhouse gas emissions in accordance with the GHG Protocol. As a portfolio company of Aker ASA, the Company provides sustainability datapoints used in Aker ASA's CSRD reporting and has established systems and processes to track and deliver relevant information on a regular basis.

For a more detailed exploration of the approach and the results achieved in key areas, refer to pages 23-45, where material topics are described in more detail.

To support its sustainability ambitions, Aker BioMarine has established a set of key performance indicators to monitor progress across material topics. These indicators provide a structured basis for performance follow-up and are presented in the table on the next page.

Climate

We aim to reduce our carbon intensity by 50% by 2030, and work towards net zero emissions by 2050.

CO intensity CO emissions

In progress

Page 27-28

Biodiversity

Environment

We aim to actively support science-based ecosystem stewardship and sustainable management of the Antarctic krill fishery, including Marine Protected Areas.

We aim to reduce resource use and achieve full circularity in principal waste streams in our

MPA implementation In progress Waste & recycling

Page 29-30

Social

own operations.

We are committed to a safe, just and thriving workplace for our employees.

Water intensity Chemicals intensity HSSE

Equality Turnover Sick leave

In progress

In progress

Page 31-32

Page 33-40

‌Reporting frameworks and assessments

The following reporting frameworks and organisational boundaries form the basis for Aker BioMarine's sustainability reporting.

The Companys financial reporting is divided into segments. However, for sustainability reporting, a unified view of the Company is presented. Following the divestment of the Feed Ingredients business in 2024, vessel operations are no longer part of Aker BioMarine's operational boundary. Emissions related to purchased goods and services from The Orill Company are therefore accounted for under Scope 3. The baseline for the 2030 CO intensity target has been recalculated to reflect this structural change in accordance with the GHG Protocol.

This sustainability statement is organized into three sections: Environmental, Social, and Governance. Each section addresses topics considered material, guided by the following frameworks.

Aker BioMarine is committed to implementing the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). Through the framework's pillars, the Company aims to provide stakeholders with relevant information on climate-related risks and opportunities affecting the business.

Aker BioMarine reports its greenhouse gas emissions in accordance with the GHG Protocol. The CO accounting methodology

statement is provided in appendix 1. PwC has provided independent limited assurance on the Company's greenhouse gas emissions. The assurance engagement covers Scope 1, 2 and 3 emissions across Aker BioMarine's value chain.

TRANSPARENCY ACT

The Companys Transparency Act Report is presented in appendix 2. It is prepared in accordance with the Norwegian Transparency Act section 5 and summarizes policies, procedures, and due diligence related to safeguarding human rights and decent working conditions.

As a portfolio company of Aker ASA, Aker BioMarine provides sustainability datapoints used in Aker ASA's CSRD reporting. Systems and processes are established to collect and report relevant information to the Group on a regular basis.

CORPORATE SOCIAL RESPONSIBILITY

The report on Corporate Social Responsibility, approved by the Board of Directors, is included in the Sustainability Statement.

Governance structure for sustainability

Aker BioMarine's sustainability governance embeds environmental and social responsibility into core operations, reinforcing the Company's commitment to ethical practices and continual improvement.

The Board of Directors has oversight over the Company's risk and opportunity management, including sustainability-related matters, and maintains competence

on sustainability targets and governance.

and reported to the Board of Directors bi-annually.

TCFD-REPORTING

The principal channel for Aker BioMarine's

Governance structure 2025

Unit / Role Responsibility

The Board of Directors has oversight over the company's risk and

Aker BioMarine identifies operational and financial sustainability risks through systematic mapping of operations and associated risk factors and annual reviews of the Companys double materiality assessment, while mitigation opportunities are identified through internal and stakeholder collaboration.

The Sustainability Committee consists of members of the executive management team, leaders at the Companys manufacturing facility and the sustainability lead. The committee is responsible for ongoing oversight of sustainability-related issues, monitoring quarterly progress on targets and metrics. It presents and evaluates new initiatives from the business units, provides advice on significant investment decisions, and contributes input to sustainability-related strategic alignment.

Sustainability targets are monitored through structured internal reporting processes. Progress on sustainability targets is presented to the Audit Committee quarterly

TCFD disclosure to external stakeholders is the Annual Report.

Climate-related risks and opportunities are described in "Operational risks and opportunities" in chapter 1.

The Board of Directors

Audit Committee

Chief Executive Officer

Sustainability Team

Sustainability Committee

Chief Financial Officer

opportunity management, including sustainability related risks and opportunities, and competence on sustainability targets and governance.

The Audit Committee is responsible for overseeing the company's sustainability work, including reporting processes, internal controls, risk management, sustainability targets and strategy.

Overall responsibility for sustainability related risks and opportunities, necessary strategic alignment, and updates to the Board of Directors.

Responsible for disclosing the actual and potential impact of sustainability related risks and opportunities for the business model and operations, setting the frames for strategic alignment. Ensures continuous follow-up on targets and metrics across business units as chair for the Sustainability Committee and by reporting quarterly into the Board of Directors' Audit Committee. The Sustainability Team includes representatives from HR and the Compliance Officer to ensure alignment with labor practices, ethics, and regulatory requirements.

Responsible for ongoing oversight of sustainability related issues, monitoring quarterly progress on sustainability related targets and metrics. Presents and evaluates new initiatives from the business units. Provides advice on significant investment decisions. Provides input on sustainability related strategic alignment.

Responsible for the annual sustainability related risk management, as an integrated part of Aker BioMarine's overall risk management procedure.

‌Our stakeholders

Aker BioMarine has a broad range of stakeholders identified and mapped based on their relevance to operations and business continuity. Ongoing dialogue with stakeholders provides the Company with increased understanding of its impact on its surroundings, as well as how external factors may affect the business.

STAKEHOLDER GROUP MATERIALITY AND PURPOSE RELATED RISK KEY POINTS OF MEANINGFUL ENGAGEMENT

GOVERNMENTS AND REGULATORY BODIES

INDUSTRY ORGANIZATIONS

INVESTORS, LENDERS AND FINANCIAL MARKETS

CUSTOMERS AND CONSUMERS

SUPPLIERS AND BUSINESS PARTNERS

SCIENCE AND ACADEMIA

EMPLOYEES

PUBLIC AND SOCIETY

Regulatory approvals are essential for bringing our products to market. Compliance with food and dietary supplement regulations ensures product safety, market access, and business continuity. Key authorities include the U.S. FDA and the Norwegian Food Authority

Promotes high-quality standards for EPA and DHA omega-3 products, advocates for responsible industry practices, and supports scientific research to strengthen market credibility and consumer trust.

Financial institutions, lenders, owners and investors need to see profitability and company growth to maintain long-term investments and financing.

A strong customer and consumer base drives

profitability

Third party suppliers of goods and services are key to business continuity. Particularly our supplier of the krill raw material, The Qrill company.

Scientific research is fundamental for product innovation and ensuring the efficacy and safety of our dietary ingredients. Collaborations with academic institutions help validate health claims, improve product quality, and support sustainability efforts.

Attracting and retaining the right people is key for growth

Public perception and legitimacy

-Changes in food and supplement regulations affecting product approvals and claims

-Delays in regulatory approvals impacting market entry

-Increasing compliance requirements for ingredient safety and

labeling

-Regulatory changes affecting omega-3 product claims and

market access

-Diverging global standards for omega-3 quality and sustainability

-Long term view of company not attuned to short term

investments

-Market fluctuations and economic downturns affecting investor and lender confidence

-Reduced consumer demand for products

-Reduced belief in omega-3 supplements

-Consumer chooses cheaper options

-Disruptions in supply chain or untrustworthy suppliers impair delivery of product

-Non-compliance or lack of transparency in supply chain may lead to breaches of national/international regulations and/or breach internal codes

-Insufficient scientific research to support ingredient benefits and claims

-Science that is critical or non- supportive, with or without

solid grounds and data

-Regulatory challenges due to evolving scientific standards

-Competence and knowledge loss

-Delayed results, growth targets not achieved

-Risk of losing footing and social legitimacy in society

-Ongoing dialogue with relevant authorities to stay ahead of

regulatory developments

-Active participation in GOED committees and working groups

-Engagement in scientific research and consumer education efforts

-Ongoing dialogue with owners, investors, and lenders

-Quarterly presentations and Capital Markets Updates

-Communication of news, data, and messaging on the benefits of krill

-Dialogue and collaboration with our main krill supplier on krill harvesting aspects

-Robust onboarding process for suppliers and continuous followup throughout supplier relationship

-Partnering with universities and research institutions on clinical

studies, safety assessments, and bioavailability research

-Supporting independent studies to validate product benefits and inform regulatory decisions

-Engagement in industry-academic partnerships to advance ingredient quality, sustainability, and public health awareness

-Dialogue and involvement of employee representatives, managers, relevant strategies for attraction and retention, strong Employer Value Proposition

-Awareness the wider public interests beyond key markets and

consumers

-Educating public on health benefits of Omega 3 and importance

of blue foods

‌ENVIRONMENTAL

•

In this section we focus on the following material topics that

represents our environmental impact and how we address them. We work to reduce our environmental footprint and improve resource efficiency across our operations and value chain.

•

Aker BioMarine is actively working to reduce our impact and lower emissions from our operations, read about our initiatives in C//mate.

Despite selling our harvesting activity, biodiversity and ocean stewardship remains a key focus, read more in Biodiversity.

• Full circularity of our principal waste is an important part of our sustainability story, read about it under Environment.

  
  
  

  Climate | Reducing our emissions

  Aker BioMarine is committed to reducing greenhouse gas (GHG) emissions while ensuring its products support the nutritional needs of a growing population.

  
  
  
  
  OUR GUIDELINES/PRINCIPLES:
  
  

  • Improving human and planetary health is a vision that requires continuous improvement.

  • Continual improvement through data-based decision-making throughout the value chain.

  • Use of ship transport whenever possible.

Aker BioMarine aims to provide a sustainable source of nutrients while contributing to a stronger and more resilient global health system. At the same time, the world is facing severe consequences of climate change, and the Company is actively working to reduce its impact and lower emissions from its operations.

New technologies and operational improvements are instrumental and play a key role in reducing emissions across the value chain. In 2025, the Company focused on energy efficiency, waste reduction, and process optimization to drive measurable reductions in its carbon footprint. The Company's CO monitoring system enables close tracking of emissions and supports assessment of the impact of various initiatives.

Our focus and results in 2025

In 2025, Aker BioMarine continued the work of the Sustainability Committee, overseen by the Executive Management. The committee plays both a strategic and operational role in overseeing sustainability-related matters, monitoring progress on targets and metrics, as well as evaluating initiatives and investment decisions across the business. Following the divestment of the Feed Ingredients business, a key focus in 2025 was the reassessment of environmental KPIs.

THE HOUSTON PLANT

In 2025, Aker BioMarine continued efforts to reduce production-related emissions by accelerating the transition to renewable electricity. From January 2026, the Houston plant will be powered by 100% renewable electricity. This transition is expected to reduce Scope 2 greenhouse gas emissions by approximately 90%.

Following operational improvements made in 2024, further emission reductions were achieved in 2025 by increasing the output of SuperbaT^ Boost and SuperbaT^ II. These improvements allowed for better krill meal utilization and reduced energy consumption per unit produced, resulting in higher yields and additional krill oil production while lowering CO intensity per unit produced.

As part of ongoing efforts to improve resource efficiency and prevent pollution, Aker BioMarine works systematically to reduce the use of raw materials, and chemicals that impact air, water and soil. In 2025, several initiatives were evaluated and advanced in support of these objectives.

Efforts to reduce ethanol consumption and production losses were initiated through process analyses, identification of loss points and ongoing pilot projects. Improvements to product purification processes and optimisation of wastewater pH adjustment are expected to reduce the need for acids and caustic chemicals,

consumption and emissions per unit of catch. This contributes to lower overall CO intensity. Additionally, hull cleaning on Antarctic Provider in 2024 improved efficiency by 8.5%, saving 3,OOO liters of fuel per day. This measure was implemented again in 2025 as part of ongoing efforts to reduce fuel consumption and emissions. Furthermore, the upgraded winches installed on Antarctic Sea in 2024 continue to deliver efficiency and production benefits in 2025. These efforts, running from 2024 to 2027, support a more sustainable operation.

Through ongoing innovation, technological advancements, and operational improvements, Aker BioMarine will continue to make steady progress in reducing its emissions.

Following the divestment of the Feed Ingredients segment in 2024, Aker BioMarine's operational boundary changed significantly. Emissions from vessel operations are no longer included in Scope 1 and are instead reflected in Scope 3 as part of purchased goods and services from The Orill Company.

Emissions (Global ton COze)

PwC has provided limited assurance on scope 1, 2 and 3 emissions for 2025 Reported according to the GHG Protocol, as described in methodology statement climate accounts (appendix 1)

lowering the consumption of resource-intensive inputs.

The Orill Company is reducing CO intensity through several initiatives. Larger, more modern trawlers enable more efficient operations, thereby reducing fuel

Moreover, the emissions calculation methodology for purchased nutra meal was further improved in 2025, with the previous fuel-based estimation approach replaced by a life cycle assessment and environmental product profile. As 2025 is the first full year reflecting both the updated operational structure and the improved methodology,

2025 is established as the new base year for emissions reporting, while 2024 is presented as the comparative year.

The updated methodology provides a more complete representation of the Group's emissions and explains the change in reported emissions compared to 2024,

which is driven by improved measurement accuracy and methodological updates rather than changes in underlying operational performance.

Biodiversity | Ocean Stewardship

Ocean stewardship and biodiversity protection remain key focus areas, with sustainability at the core of the Company's value proposition for

the products it sells.

Sustainability has been a core focus for Aker BioMarine since the Company's inception and continues to be a key priority. In 2025, the Company further strengthened its efforts on biodiversity protection and responsible ocean governance, with a particular focus on ocean conservation and advocacy for Marine Protected Areas in Antarctica. This work reflects a clear conviction: long-term value creation depends on effective stewardship, robust governance, and healthy, resilient ocean ecosystems.

In 2025, the Company's biodiversity agenda focused on the following priority areas.

Aker BioMarine's sustainability efforts are closely linked to how the Company source its marine raw material. All krill used in the products is sourced from the Antarctic Krill Fishery, governed by the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) and managed under a precautionary, ecosystem-based approach designed to safeguard the overall health of the Antarctic Ecosystem.

Several conservation measures are in place to safeguard the Antarctic ecosystem, including; conservative catch limits, spatial management measures, continuous monitoring and independent observer coverage. Catch limits are set at less than 1% of the estimated krill biomass. Few other fisheries in the world have as low catch limits in proportion to the biomass of their target species, with actual catches well below the allowable limit.

In 2025, the United Nations Food and Agriculture Organization's (FAO) assessment of the State of World Marine Fishery Resources classified the Antarctic krill fishery as sustainably fished and highlighted it as an example of a well-regulated, precautionary fishery management system. This assessment reinforces both the sustainability of the Antarctic Krill Fishery, as well as underscores the role of science-based governance in enabling responsible sourcing while safeguarding marine biodiversity.

Scientific assessments over the past decades indicate that the krill population has remained stable, with whale populations increasing after historical depletion. Ongoing scientific research and monitoring remain essential to ensure that fishing activity does

not add pressure to a rapidly changing ecosystem.

Through The Orill Company and external research partnerships, including the Antarctic Wildlife Research Fund, we continue to strengthen the scientific knowledge base that informs responsible management.

For 2025, our sole supplier, The Qrill Company, reported 100% independent observer coverage across all fishing vessels.

As a result of the precautionary and science-based management of the Antarctic krill fishery, the Food and Agriculture Organization of the United Nations has assessed that 100% of Antarctic fish stocks are harvested within biologically sustainable levels.

The Orill Company's fishery was re-certified by the Marine Stewardship Council (MSC) in 2020 for a five-year period and is subject to annual independent surveillance audits, with results publicly available. A re-certification assessment is expected in early 2026. In addition, Aker BioMarine holds the MSC Chain of Custody certification, providing assurance that all krill-based products can be fully traced throughout the value chain to a fishery certified as sustainable.

Friend of the Sea (FoS) has also certified The Orill Company's krill fishery and confirms that the krill harvesting practices meet the sustainability standards set by Friend of the Sea.

The Antarctic krill fishery has previously received several consecutive A-ratings from Sustainable Fisheries Partnership (SFP), the highest standard for a fishery, indicating that the fishery is well managed and in very good condition. From 2021 the Antarctic Krill Fishery is no longer within the scope of SFPs assessments.

Aker BioMarine has long advocated for the establishment of Marine Protected Areas (MPAs) in Antarctica, reflecting the companys commitment to science-based ocean governance and biodiversity protection. In 2025, efforts to promote ocean protection and conservation were further strengthened, with a particular focus on securing adoption of the proposed Antarctic Peninsula MPA. If adopted, the MPA will become one of the world's largest and protect nearly 70% of the Antarctic Peninsula region.

Throughout 2025, Aker BioMarine engaged in key international fora to support dialogue on sustainable ocean governance. This included participation at the 2025 UN Ocean Conference, where Aker BioMarine publicly reaffirmed support for the Antarctic Peninsula MPA, and highlighted the role of responsible industry actors in responsible ocean governance. This message was further reinforced during New York Climate Week, with emphasis on the importance of private-sector engagement in support of the United Nations goal of protecting 30% of the ocean by 2030. In October 2025, the Company was present at the annual Commission for the

Conservation of Antarctic Marine Living Resources (CCAMLR) meeting, contributing to discussion on the adoption of the Antarctic Peninsula MPA, alongside improved fishery management for the Antarctic Krill Fishery.

Building on this long-standing advocacy, Aker BioMarine has continued to mobilize private-sector engagement for ocean stewardship. In 2025, the Company participated in a high-level convening at Windsor Castle hosted by King Charles III, bringing together industry leaders to advance sustainable practices in the marine and ocean-based economy.

This engagement formed the basis for a partnership with the Sustainable Markets Initiative, founded by King Charles III as Prince of Wales, together with The Qrill Company and the Marine Stewardship Council. The partnership resulted in the creation of the Ocean Stewardship Initiative, formally launched in January 2026.

The Ocean Stewardship Initiative is a platform for private-sector engagement in support of sustainable ocean solutions. Central to this approach is the development of a structured, practical playbook that sets out how industry can engage constructively and accountably in ocean governance across sectors, geographies, and fisheries. Designed for replication, the playbook enables lessons learned to inform implementation in other contexts, supporting more consistent

delivery of global ocean commitments and reinforcing Aker BioMarine's conviction that industry can play a constructive role in strengthening ocean governance.

The Initiative's first delivery track builds on Aker BioMarine's efforts to advance support for the implementation of the Antarctic Peninsula MPA and improved ecosystem-based fisheries management within the CCAMLR governance framework.

LOOKING AHEAD

In 2026, Aker BioMarine will continue to work to secure support for the establishment of a Marine Protected Area in Antarctica within the CCAMLR framework. Moreover, through the Ocean Stewardship Initiative, and in collaboration with the Sustainable Markets Initiative and other industry actors, the Company will continue to act as a leading advocate for private-sector leadership and accountability in ocean governance and marine protection.

Aker BioMarine is committed to managing waste responsibly by improving resource efficiency and exploring practical reuse solutions. The Company focuses on reducing waste, lowering emissions, and maximizing the use of its raw materials.

•

•

Evaluation and Next Steps

Throughout 2025, Aker BioMarine demonstrated its commitment to circularity by implementing key waste reduction measures across its operations. Moving forward, the Company will continue to prioritize reducing product waste within production processes to further enhance its sustainability efforts.

‌SOCIAL

We take pride in our passionate employees who always go the extra mile. We believe diversity is a prerequisite for innovation and this is reflected in our workforce. In this section we focus on three material topics that represent our social impact and our approach:

• You can read about our approach to HSSE and how it reflects our strong people-first culture.

• Diversity among our employees is vital to ensure that we stay innovative and successful as a company. You can read more about this in diversity - From Representation to Impact.

• You can also read about how we work to attract, foster, and build employees, in Our peopie ore our enduring competitiv'e advantage.

Social | Health, Safety, Security & Environment

Aker BioMarine's HSSE approach is grounded in prevention, protection, and preparedness, safeguarding resilience, and supporting responsible, sustainable performance.

its people, strengthening operational

At Aker BioMarine, the approach to HSSE reflects a strong people-first culture. The Company applies its HSSE management process to guide this work, which includes a set of integrated principles underpinned by procedures. These procedures are designed to support the following:

• Prevent incidents/accidents from occurring which could have negative impact on Aker BioMarine.

• Protect people, assets, operations, and reputation.

• Prepare the response and recovery from incidents/accidents to maintain business operations during critical or major incidents.

  OUR GUIDELINES/PRINCIPLES:

  • HSSE management system

  • HSSE policy

  • Code of conduct

Our focus and results in 2025:

In Houston, Aker BioMarine advanced HSE performance through targeted infrastructure and preventive measures designed to strengthen reliability and compliance.

Sprinkler heads were replaced in the SMB and Extraction process areas to enhance fire protection reliability and maintain alignment with safety standards. The annual infrared thermography survey of all plant electrical panels was completed, proactively identifying potential electrical hot spots and mitigating risk before incidents could occur.

In the Nutra Meal freezer storage area, damaged overhead storage racks were replaced to maintain structural integrity and protect employees and products.

In addition, fluorescent lighting was upgraded to LED lighting in high-traffic areas

- including staging, freezer, QHP, and oil storage - improving visibility and reinforcing employee safety.

Collectively, these measures reflect a proactive and systematic approach to risk prevention, infrastructure integrity, and operational reliability.

The Company prioritize the protection of its people, assets, and information by embedding security measures across its operations. Through strengthened access management, robust cybersecurity protocols, and continuous employee

training, Aker BioMarine actively mitigates risk and address evolving digital threats. Information security remains a critical component of safeguarding operational continuity and stakeholder trust.

Aker BioMarine are committed to ensuring that workers throughout the value chain are treated with dignity, fairness, and respect. The Company expect suppliers and partners to uphold high standards related to human rights, safe working conditions, and ethical labor practices.

chain. By integrating HSSE performance into leadership accountability and operational decision-making, the Company aims to further reduce risk exposure, improve resource efficiency, and support stable, sustainable operations across all sites.

Through proactive leadership and continuous improvement, HSSE will remain a core enabler of responsible growth, longterm value creation, and stakeholder trust.

Number of serious incidents reported (onshore and offshore) LTI

Fatalities

Sick leave***

Number of reported whistleblowing incidents

Number of reported incidents concluded to constitute a breach in governing rules and regulations

*Not in breach with Code of Conduct

**Figures include only the remaining Aker BioMarine company as of 2024 end.

2024**

0

0

2024**

1.50%

1*

0

2025

0

0

2025

0.69%

0

0

Through defined requirements, due diligence processes, and ongoing engagement, the Company promotes accountability and responsible business conduct, reinforcing its commitment to sustainable and ethical operations beyond its own facilities.

Evaluation and next moves:

Looking ahead to 2026, the Company will further strengthen HSSE governance and embed preventive risk management as a structured and measurable component of the sustainability agenda.

The focus will remain on safeguarding employee health, ensuring operational safety, and reducing environmental impact through targeted investments, systematic monitoring, and continuous competence development.

The Company will continue to enhance infrastructure reliability, strengthen information security resilience, and reinforce supplier oversight to uphold responsible business practices throughout the value

***Sick leave calculation excludes North America due to difference in leave tracking processes from other global locations.

Social | Diversity - From Representation to Impact

Diversity at Aker BioMarine is about valuing the attributes that make each individual unique. The Company considers a diverse workforce essential to continuous innovation and long-term success.

OUR GUIDELINES/PRINCIPLES:

• Aker BioMarine prohibits discrimination or harassment of any kind, which is clearly stated in the Code of Conduct.

• The Company acknowledge the fundamental principles of human rights, as defined in the Universal Declaration of Human Rights, the ILO Declaration on Fundamental Principles and Rights at Work, as well as the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct. Considerations of equality and non-discrimination is an integral part of the employee policy.

contribution supports long-term value

creation.

At year-end, women represented 48.4% of the total workforce, reflecting a broadly balanced gender composition at Company level. Across locations, representation varies in line with local labour markets and functional mix. Several sites demonstrate balanced or female-leaning representation, while others reflect structural industry patterns. This is viewed not as a static outcome, but as an ongoing responsibility.

The Company's approach to gender equality is embedded in how people are hired, led, and developed. Structured assessment tools are applied in recruitment to strengthen objectivity and reduce bias. Leadership forums promote shared accountability and consistent people practices across teams

A respectful and safe working environment is fundamental to inclusion and performance. In 2025, the Company conducted its Annual Harassment & Discrimination Survey to support transparency, identify potential risk areas, and reinforce accountability across the organization.

The Company's zero-tolerance approach to harassment and discrimination is embedded in policies, leadership expectations, and continuous awareness efforts. Where improvement areas are identified, they are addressed through structured follow-up and clear action plans. Safeguarding dignity at work is not only a matter of compliance - it is a prerequisite for trust, engagement, and sustainable performance.

As the Company moves from foundation to

organization. When opportunity, accountability, and performance align, diversity becomes a competitive advantage.

Next moves

Going forward, the Company will continue to strengthen leadership accountability, broaden diverse talent pipelines, and embed inclusion in decision-making processes at all levels of the organization. As capabilities scale and performance accelerate, diversity will remain a core dimension of how teams are built, leaders are developed, and longterm value is created.

Focus and results in 2025

Diversity is not an initiative - it is a reflection of how Aker BioMarine operates and performs. The Company considers diverse perspectives to strengthen decision-making, challenge assumptions, and accelerate innovation. An inclusive culture enables individuals to contribute fully, and this

and geographies. Annual surveys provide transparency, reinforce psychological safety, and create space for continuous dialogue and improvement.

The Company monitors compensation annually using a consistent and transparent methodology to support comparability and trust. This discipline helps keep discussions around equality grounded in data, reinforcing fairness and accountability.

acceleration, the ambition is to translate balanced representation into sustainable leadership pipelines and equal opportunity at every level of the organization. The Company will continue to broaden talent pools, strengthen inclusive leadership capability, and embed diversity as a natural dimension of strategic decision-making.

Gender equality is not only about fairness - it is about unlocking the full potential of the

Table includes only employees in remaining AKBM company as of 2025 end.

*Not tracked for our global employees, as different national laws apply.

**Part-time employees are interns who combine work with studies and employees working part-time on their own will.

Analysis for all Norway-based permanent employees. Cash reward includes salary, annual leave allowance, bonus. Non-cash reward include pension, insurance, newspaper, electronic communication.

* Women percentage shows women's pay in relation to men

** Privacy regulations. At least 5 employees of each gender needs to be represented in order to include in report.. Exception is made for EMT, as this is reported in the Management Remuneration report

Action overview and action plan

HR area

Background for

Maintain balance gender representation

Description of measures

Maintain target of 50% women among

50% women among qualified candidates

Deadline/ Status

Balanced representation maintained

Promotion- and development opportunities

Compensation terms

among across

management and non-management roles

Historical imbalance in senior leadership positions

Promote equal pay for equal work and transparent governance

Reinforce psychological safety and awareness of reporting routines.

qualified candidates in recruitment processes

Systematically monitor promotion patterns.

Integrate diversity metrics into leadership reviews and succession planning processes

Conduct annual structured gender pay gap review (cash and total reward) using consistent methodology.

Conduct annual Harassment & Discrimination Survey. Strengthen reporting channels, leadership accountability, and awareness training.

50% of vacant leadership

positions are filled by women Gender balance in new hires annually

Maintain pay gap within defined tolerance range,

Annual cash and non-cash review, transparent reporting and follow-up actions

Equal pay for equal work of same quality

All claims reported and managed appropriately. Zero tolerance for discrimination

>9O% respect score in annual survey. Manager awareness training, annual executive review of diversity metrics Inclusion indicators tracked in EVP survey, succession diversity monitored

HR

HR

HR

HR/Compliance Officer

Ongoing

Ongoing

Ongoing

Ongoing

across locations. Continued monitoring

and structured reporting.

Improved internal mobility and structured tracking of leadership pipeline diversity. In 2024, VP-level and above leadership positions achieved equal balance between women and men in Norway

Annual review completed. Differences assessed as composition-driven and monitored through governance cycle

Harassment and discrimination survey. In 2025, 95% of respondents reported being treated with respect and appreciation.

Social | Our people are our competitive advantage

Aker BioMarine's people are its greatest asset. The Company therefore places strong emphasis on attracting, developing, and empowering the talent that drives innovation, strengthens execution, and enables long-term value creation.

In 2025, the Company built deliberately on a roles. That represents a strong endorsement strong foundation of shared purpose, pride, of the Company's culture and leadership.

and trust. With high engagement and strong

enables both employees and the business to thrive.

integration of AI into daily operations and business processes.

belief in the mission, the focus was on strengthening the leadership, capability, and cultural infrastructure required to sustain growth over time.

Engagement is not driven by processes alone, but by people. Across all sites, colleagues represent the strongest source of motivation and energy, reflecting a culture built on collaboration, mutual respect, and

In 2025, the Company strengthened its leadership foundation by establishing an extended leadership group for all people

Through structured workshops, experimentation, and knowledge sharing, company-wide capability and confidence in Al-driven tools and decision support are being developed. The ambition is clear: to

Rather than launching isolated initiatives, shared ambition. Employees demonstrate a

2025 marked a structural step forward - strong connection to the Company's reinforcing leadership alignment, mission, innovation agenda, and accelerating digital and AI capability, sustainability commitments, with a clear professionalizing talent processes, and understanding of how individual embedding greater consistency across contributions support long-term value locations. As part of strengthening creation.

managers. This created structured arenas for alignment, capability building, and shared accountability across teams and locations.

Through bi-monthly digital forums and biannual onsite gatherings, leadership cohesion was enhanced, execution discipline

enable every team to become Al-enabled in

how they prioritise, analyse, and execute.

AI is not viewed as a standalone initiative, but as a strategic enabler of smarter decision-making, improved productivity, and scalable performance across the organisation.

organizational effectiveness and closer alignment with operations, selected roles were relocated from Oslo to Houston and Spain, bringing key capabilities closer to operational environments.

Focus and results in 2025

In 2025, the Companys Employer Value Proposition (EVP) survey once again

Autonomy, speed, and a flat organizational structure continue to be highlighted as distinctive strengths. These qualities enable faster decision-making, encourage ownership, and support a culture where ideas can move from concept to execution with agility. In a rapidly evolving global environment, this adaptability represents a critical competitive advantage.

sharpened, and a unified direction reinforced

across the organization. The initiative directly addresses the need for clearer prioritization, stronger follow-up, and visible alignment - ensuring that strategy translates into consistent action at every level of the business.

Strong leadership alignment is fundamental to execution capacity, organizational

High performance begins with attracting and selecting the right talent. Structured assessment tools have been an established element of the Companys recruitment practices. In 2025, consistency was further strengthened by integrating personality assessments into all recruitment processes,

confirmed what is experienced across the Engagement is viewed not only as a measure organization: a workforce powered by of satisfaction, but as a strategic driver of engaged, committed, and purpose-driven performance, innovation, and resilience. people. A total of 86% of employees report continued investment in leadership, being proud to work at Aker BioMarine, and inclusion, and capability development will 80% feel trusted in how they perform their further strengthen the foundation that

resilience, and sustainable performance.

To position the Company for long-term competitiveness, a cross-functional AI group was established to accelerate the practical

enhancing decision quality, comparability,

and bias awareness.

This structured approach reinforces longterm talent sustainability and keeps capability development aligned with business priorities.

CONNECTION

Employees consistently highlight development opportunities and global collaboration as key drivers of engagement. In response, the Company successfully

New employee hires and employee turnover

New hires

Turn over

2024*

20%**

8.6%

2025

12%**

16.9 %

launched a gamified learning platform integrated into onboarding and continuous development, and conducted the EVP survey to calibrate and strengthen the

*Figures represent only remaining Aker BioMarine company as of Q4 2025 end

**Largest portion of new hires was done in Houston Manufacturing unit

Employee Value Proposition.

These initiatives enhance knowledge

Percentage of employees receiving regular performance reviews

2024

2025

capability development.

strengthening capability, investing in people, and fostering an environment where talent is engaged and retained - supported by consistent leadership presence across locations and a continued commitment to organizational effectiveness and long-term resilience.

Unlocking our next chapter

Together, these initiatives reinforce the Company's conviction that people, leadership, and culture are decisive competitive advantages. By investing in alignment, capability, and engagement, organizational performance is strengthened, along with the ability to innovate, adapt, and create long-term value.