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Investor Presentaiton

2 Source: Navision 16 14 12 10 00 8 ICELAND ISI SEAFOOD Q3 2022 Presentation to Investors and Analysts Significant increase in S&D profitability >VA S-Europe from prior year, driven by strong demand € m's Q3 22 Q3 21 9M 22 9M 21 Sales 45.1 39.5 132.1 116.0 Net margin 2.1 1.8 6.1 5.3 Normalised EBITDA 0.9 0.6 2.6 1.9 Normalised PBT* 0.9 0.6 2.5 1.7 *Normalised PBT represents Profits before tax before allowing for significant items. Frozen at Sea fillets (€/kg) Saithe 7,3-7,2 6,3 7,2 6,5 6,8 6,5 7,7 7,2 6 6,3 5,5 5,3 الله 6,1 6,4 7 6,5 5,3 st 4 Fresh fish (€/kg) Saithe Haddock Cod 20 20 18 14 Haddock Cod 15,1 14,1 14,7 13,4 14,3 14,2 13,4 13,8 13,6 11,6 18 17,9 13,0 16,4 14,4 16 14,1 13,8 17,1 13,3 11,7 10,9 13,2 13,7 11,4 13,8 14,1 12,7 12,4 15,8 16 12,9 15,4 10,9 10,7 11,5 13,8 14 11,3 13,9 128 9,7 12,0 11,7 12 10,6 11,1 13,5 14,7 12,2 8,8 7,2 7,8 8,7 7,9 9,2 9,2 12 12,2 9,9 10,5 13,2 9,8 10,1 11,3 13,1 13,1 12,9 12,6 10,9 14,1 6,4 10 10,2 10,3 11,9 12,3 11,2 6,3 6,0 6,6 6,5 9,5 12,3 11,8 6,4 10,5 6,3 10,1 10 12,6 7/1 8,1 8,5 7,9 8 5,15,21 9,3 5,4 4,8 5,1 8,9 5,9 6,3 6,5 7,5 8... 5,9 6,4 6 5,1 7,9 7,7 7,4 7 5,5 2,8 22,7 2729 29 3 3,1 3,1 3,8 4 3 8 4 5,5 4,7 5,2 5,5 4,9 -5,7 5,35,2 6,4 Sales growth of 14% from 9M 2021, Sales growth is primarily driven by price increases. The volume of Groundfish is 9% up on last year (like for like), but pelagic is 21% down, Continuing good demand for Frozen Sea products in Q3, despite. historically very high prices. Demand has come down in Q4, The situation in Ukraine is having an impact on pelagic sales, causing significant logistic issues, as customers are not holding any stock inside Ukraine, Fresh fish prices increased significantly in the summer, especially in August when the coastal fleet stopped fishing. The outlook for fresh fish is good, with solid demand from the US market. > VA N-Europe > Sales & Distribution Normalised PBT of €2.5m, up 48% from 9M 2021 • • Net margin in 9M 2022 €0.6m up on last year, driven by price increases in the period, Operations in both France and Germany have performed well in the period, Operating costs are €0.1m up on last year, mainly due to stronger ISK. Finance costs are slightly lower due to the closing of US operation at the back end of last year, Normalised PBT in the period was €2.5m, compared to €1.7m in 9M 2021. 2 Oct ΛΟΝ Dec Jan Feb Mar... April May June July Aug Sept Oct ΛΟΝ Dec Jan Feb Mar... April May June July Aug 15 Sept Oct
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