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Investor Presentaiton

ISI ICELAND SEAFOOD October 2019 Main Market Listing and Offering of new shares Value Added Northern Europe division • Close cooperation with retail and foodservice customers Iceland Seafood's Value Added N-Europe division has operations in Ireland and the UK through three subsidiaries Retail focused IS Barraclough, Foodservice focused IS Havelok, which is a leading seafood supplier to the foodservices sector in the UK Oceanpath, the largest fresh seafood processor to Irish retailers, and subsidiary Dunn's of Dublin, a producer of fresh and smoked seafood for Irish retailers The division focuses on value added production of seafood such as hot and cold smoking, breading, filleting and portioning and various ready to eat products. Example of final product Joseph Dean Dunn's SMOKED IRISH SALMON Dunn's ORGANIC SMOKED IRISH SALMON Sales EUR 000 Retail fresh/smoked 35% Retail frozen 45% Key Figures 103,352 97,387 5,203 4,587 56,228 45,109 1,289 48,292 1,485 1,550 20% 2016 2017 2018 Foodservice Revenues 2018P Normalised PBT 2019 1H
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