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Investor Presentaiton

8,0 7,5 7,0 6,5 6,0 5,5 5,0 4,5 4,0 40 ISI ICELAND SEAFOOD Q3 2020 Results Presentation to Investors and Analysts Results in Q3 impacted by supply chain disruptions due to Covid19 > VA S-Europe > VA N-Europe > Sales & Distribution Sales growing by 13% Normalised PBT down from prior year €0.7m from 9M 2019 € m's Q3 20 Q3 19 9M 20 9M 19 Sales 25.0 21.6 79.4 69.8 Net margin 2.3 3.0 8.4 8.4 Normalised EBITDA 0.8 1.5 3.8 3.8 • Normalised PBT* 0.1 1.0 1.9 2.6 * Normalised PBT represents Profits before tax before allowing for significant items. SALMON PRICES (€/KG) 2019 2020 • H&G COD FROZEN PRICES (NOK/KG) 44 42 40 38 36 34 32 30 Jan Feb March April May June July Agu Sept Okt Nov Dec Jan Source: SeaData Center Source: Norges Sjomatrad 2018 2019 2020 Feb March April May June July Agu Sept Okt Nov Sales growth driven by higher sales into retail, both in Ireland and UK. Sales into UK foodservice improved. in Q3 following easing of Covid19 restrictions in UK, but were still 40% down on Q3 2019, Q4 is a key sales period especially in Ireland where smoked salmon is a big Christmas item, Dec • • • • . Supply chain disruptions due to Covid19 having significant impact on margins in UK. Cost related to implementation of Covid19 contingency plans negatively impacted margins and operating costs in the period, Merging the two UK entities in a single location to be completed in Q4. The process has turned out to be more costly than anticipated, Good results from the operation in Ireland, driven by strong sales growth of Irish retail, Interest cost €0.4m higher than last year, driven by sales growth and investment in UK. 10
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