Investor Presentaiton

ISI ICELAND SEAFOOD Q3 2021 Presentation to Investors and Analysts External challenges continue to exist but big opportunities in the long run Demand in Iceland Seafood's key markets Investments going forward can be continues to be strong • Demand continues to be strong in our key • . • • markets. The challenge is to bring the products to the customers in a highly volatile operating environment with low visibility on various cost factors and availability, 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, which is especially impacting our UK operation, Local production in Europe becoming more competitive where automation and investments in production efficiencies will play a key role, All these factors have had and will have significant impact on the operating environment. Further price inflation is expected, The overall impact on Iceland Seafood operations is uncertain, different factors will both bring new opportunities and challenges, segmented in three main categories: • • 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. Investments connected with sustainability matters. E.g. Solar Panels, waste management, water treatment etc. New head of ESG for the Group, Elma Sif Einarsdóttir, will start in January 2022. Investments connected with automation and operational efficiency. This is key in driving. efficiency, further enhancing consistency and increasing competitiveness, Marketing and branding investments, Iceland Seafood has invested in companies with retail or consumer brands (Carr&Sons, Ahumados Dominguez). The Group plans to further invest in the brands it holds and increase their value, With the combination of these investments Iceland Seafood will drive organic and acquired. growth going forward. Along with cross sales between units, this is key in increasing profitability in the future, This is in line with the Group's strategy of focusing mainly on value-added activities in Europe. 50 45 40 40 GROUP MONTHLY SALES YTD 2021 VS 2020 & 2019 (€'M) 43 45 42 44 39 38 42 37 36 36 35 35 37 35 37 34 36 33 33 35 30. 32 33 32 30 29 31 28 35 33 30 32 32 30 25 20 24 21 32 30 15 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2021 2020 2019 October 2021 achieved the highest sales number ever for Iceland Seafood €44.7m 4

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