Investor Presentaiton

ICELAND ISI SEAFOOD Q2 2021 Presentation to Investors and Analysts Movements of key external factors will bring both opportunities and challenges to the Group Demand in key markets has picked up Volatile operating environment • • • • • • Cod quota in Icelandic waters declining by 13% for the 2021/2022 fishing year. At the same time ICES* advise is to reduce catches in the Barents Sea by 20% for 2022, Disruption and price increases in various supply chains. are expected to continue for the coming months, especially in relation to transportation to and from Asia. Local production in Europe becoming more. competitive where automation and investments in production efficiencies will play a key role, Demand in key markets is picking up, with Covid19. restrictions being lifted in Europe and North America, All these factors have had and will have significant impact on the operating environment. Further price inflation is expected in the coming months, The overall impact on Iceland Seafood operations is uncertain, different factors will both bring new opportunities and challenges, The operation of Iceland Seafood is well balanced, the company is in good position with its strong sourcing base and value added operations close to key markets. * International Council for the Exploration of the Sea Operation in the USA simplified and risk reduced following an agreement with Villa Seafood • • Agreement reached with Villa Seafood. Sales and distribution of Icelandic landfrozen products under the Iceland Gold brand will go through Villa Seafood from October 1st 2021, The sales office of Iceland Seafood in the USA will close from that time. The MD of IS USA will become an employee of Villa Seafood from that time, Iceland Seafood will continue to sell fresh and seafrozen products from Iceland directly to its customers in the USA, This will simplify Iceland Seafood's operation in the USA and reduce risk. At the same time it will not have any significant impact on neither sales or profit generation of the Group, This is in line with the Group's strategy of focusing mainly on value added activities in Europe. 7 865 Atlantic cod supply 2009 - 2022 1117 1064 974 1362 1373 1329 1304.. 1303 1137. 1126 1251 1149 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022* *2022 is based on a forecast

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