High Liner Foods Acquisition and Financial History

10 Year EBITDA History Earnings before Interest, Taxes, Depreciation & Amortization $125 EBITDA in USD (millions) $100 $75 $50 $25 American Pride SEAFOOD CHIRTHY&O Sold New Bedford Scallop business HDMUM SEAFOOD $0 2013 2014 2015 $90.4 20% 18% $103.9 16% 14% Rubicon 12% 10.3% 10% 9.7% 8% 2016 2017 Standardized EBITDA* 2018 2019 Adjusted EBITDA* 2020 Adjusted EBITDA as % of Sales 6% 4% 2% 0% 2021 2022 *Please refer to the Company's MD&A for Fiscal 2022 for definition of non-IFRS measures "Standardized EBITDA" and "Adjusted EBITDA" Adjusted EBITDA as % of Sales

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