Investor Presentaiton

ICELAND ISI SEAFOOD 1H 2023 Presentation to Investors and Analysts Inflation and high volatility continued to impact Iceland Seafood's operation negatively in Q2 23 Price adjustments are painful in the short term but create a basis for healthier long-term demand • • Continuing high salmon price in Q2 affected negatively results of our operations in Ireland and Ahumados Dominguez in Spain. In Q3 prices of salmon have levelled off, impacting positively results in current quarter. ISI has contracted fixed prices for part of the volume throughout the year, The winter season for Argentinian shrimp started at end of June, which was four weeks later than expected, due to strikes. Prices of various whitefish and shellfish species have come down in the recent months, some significantly. This has led to unusually low margins and inventory write offs in some instances. Prices in some instances have continued to decline, which is positive in the long run as it increase. sales. Demand for seafood has contracted in Europe due to harsher economic conditions, with high inflation and rising interest rates. 12 10 10 8 6 4 · • Salmon prices have eased considerably in Q3. Finance costs have increased, credit controls are increasingly important and need constant focus. ISI issued 150m new shares in May increasing its equity by €5.9m. 2 Prices of some essential input factors have eased and stabilized during the last months. A more balanced external environment is on the horizon after a highly volatile and disruptive period since the beginning of Covid-19, 0 Jan Feb March April May 2021 The operation of Iceland Seafood is well-balanced and in good position with its solid sourcing base and value-added operations close to key markets. Source:www.fishpool.eu 3 2022 June July Agu Sept Okt Nov Dec 2023 .....2023 (Forecast)

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