Nordic Halibut AS – Interim Report Q1 2025

Averøy, Norway, 28 May 2025

Nordic Halibut AS today publishes its interim quarterly report for Q1 2025. The interim report and financial statement for Q1 2025 were approved by the Board of Directors on 27 May 2025.

Q1 2025 Highlights

• Biological asset production at sea of 391 tonnes representing a 16,5% growth rate compared to the biomass volume at the beginning of the quarter.

  
  

• Harvested 228 tonnes HOG, marking a 68% increase compared to the same quarter in 2024. Average harvest weight reached 5.6 kg, up 14,3% YoY.

  
  

• Average sales price of 193 NOK/kg, representing a 18% increase YoY

  
  

• Total revenue for the quarter ended at NOK 44 million (+96% YoY). EBITDA came in at NOK 21 million and net income ended at NOK 5 million for the period.

• Successful completion of private placement securing gross proceeds of NOK 286 million to finance key investments and growth

  
  

• Final investment decision made on the Tingvoll facility

  
  

• Entered strategic agreement with Pure Norwegian Seafood AS securing harvest and processing capacity

For further information, please see the attached report or contact:

CEO Edvard Henden

edvard@nordichalibut.no

+47 911 41 165

or

CFO Are Strand

are.strand@nordichalibut.no

+47 915 39 232

About Nordic Halibut AS:

Nordic Halibut is a leading farmer of Atlantic halibut located in Western Norway and with headquarters in Averøy, Nordmøre. The Company has a fully integrated and well-developed value chain from genetics to sales and has had a significant breakthrough in early phase production. A growth plan to expand production volumes is implemented with production target of 4,500 tonnes HOG within 2027 and 10,350 tonnes HOG within 2031. Nordic Halibut will create shareholder value by pursuing value accretive organic growth through increased production.