Investor Presentaiton

ICELAND ISI SEAFOOD Q2 2021 Presentation to Investors and Analysts SNVION yours HIS spoofies kupphe SNVION SNVION uous Panous spoofies kuyang SNVION goofines kap SNVION pa Spany spoofing kup SNVION SNVION папрацай от ранения рип катарин we w p uous payours р spoofers kyph SNVION Over years spoofres kayak SNVTON Ongoing good performance in Ireland, UK still behind plan Value Added N-Europe Ongoing positive results from operation in Ireland . • Significant increase in sales compared to same period last year, partly driven by Brexit where the Irish operation was well prepared and in better position to service local retail customers than suppliers outside Ireland, Lockdown measures have also helped sales in the period, restrictions on indoor dining have increased retail demand, Sales under the leading Nolan brand have increased. Product offering being expanded with the addition of breaded and coated products produced by IS UK and Argentinean red shrimp from Achernar, Relatively stable pricing on Salmon in the period helped the results, whilst whitefish prices were high, Production of smoked salmon for the important Christmas season have started. Positive outlook for sales. CO 6 Future outlook for the UK business remains. strong despite difficulties this year . • • All UK operation moved into a single location at year end 2020. The merger process and integration has proven to be more complex and costly than anticipated, severally impacted by both Brexit and Covid19, It has taken longer time to reach necessary efficiency and utilisation levels in the factory. Actions have been taken to reduce costs and increase activity, Ongoing challenges in transportation and logistics, both in relation to China and local distribution within UK. This has both negatively impacted sales and increased costs in the period, Foodservice sales have improved from a low level following easing of lockdown restrictions in May and June. The sector has however not fully recovered, but starting of schools will have positive impact in Q3, New agreements with both existing and new customers secured, which will positively impact sales and margins in the coming months, but to larger extent from Q1 2022, With strong customer base and new state of the art factory the future outlook and potentials for the UK business remains strong. https://youtu.be/6-zreMeLYhg 02080

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