Q4 2022 Results Presentation

ICELAND ISI SEAFOOD Q4 2022 Presentation to Investors and Analysts Overall good 2022 performance from continuing operations in a complex and unpredictable environment. A clear indicator of solid and stable foundation VA S-Europe A good performance in the first half of the S-Europe division, while difficult economic situation impacted the second half. Profitability of IS Ibérica was excellent in 1H 2022, with strong sales and margins. Results in Q4 were impacted by challenging external conditions which affected sales, The Christmas sales of Ahumados Dominguez (AD) did not meet expectations. Sales of premium products dropped in the market due to the difficult economic situation, Overall, positive results at Achernar, which operated in an uncertain and dynamic environment, Good results from Elba, which was fully integrated into the IS Iberica operation in Q2 2022. VA N-Europe Oceanpath's operation is back on track after a problematic first half of 2022 due to extreme price increases of salmon. Sourcing of whitefish was also difficult during the year, both due to limited. availability and high prices, Christmas sales were in line with expectations, despite the challenging environment, which is a sign of strength, Iceland Seafood UK (discontinued operations) went through severe difficulties during 2022, significantly impacting Group results. Results at the beginning of 2023 have improved. Sales & Distribution • A record performance in 2022 for the division driven by strong demand for products out of Iceland. • • Excellent results from all product categories, despite the challenging environment, especially in the 2H of the year. The French and German operations performed well in a year marked by price. volatility and extreme cost increases. 9

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