Company Overview & Strategy

2022 Outlook ■ Demand for the Company's products remains strong, however, like others in the retail and foodservice space, the Company continues to navigate global supply challenges, inflationary pressures on raw material and ongoing uncertainty related to the COVID-19 pandemic. High Liner Foods is taking all necessary steps to mitigate ongoing supply challenges by drawing on the scale of its global supply chain and the diversification of species, product, procurement and strong customer and supplier relationships to support its position. The Company's performance may be impacted by ongoing global supply chain challenges, inflationary pressures on raw material and other inputs and its ability to successfully implement related pricing actions. With a strong balance sheet and cash flow, the Company is well equipped to navigate current market conditions and invest in the business, with anticipated capital expenditures of approximately $25.0 million in Fiscal 2022, as we modernize our asset base, explore automation opportunities and maintain and upgrade our facilities. The Company does not have any impending debt maturities and will continue to utilize its $150.0 million working capital credit facility, if required, and remains confident in its liquidity position. High Liner Foods expects its Net Debt to Rolling Twelve-Month Adjusted EBITDA ratio to be below the Company's long- term target of 3.0x at the end of Fiscal 2022. HIGH LINER FOODS 2021 High Liner Foods Incorporated 11

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