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Investor Presentaiton

ISI ICELAND SEAFOOD Q1 2020 Results Presentation to Investors and Analysts € m's Sales Net margin Normalised EBITDA Good sales growth into UK and Irish retail Q1 2019 25.1 • 10% sales growth from prior year Q1 2020 27.7 3.0 3.0 1.4 1.5 Normalised PBT* 0.9 1.1 • * Normalised PBT represents Profits before tax before allowing for significant items and discontinued operations. FRYCITY HOMETOWN N Daily Chips on History patates fil TO SHUTS or "allumettes" is used when the d are very small and thi Belgian journalist that a family ma Belgium manusan cut potatoes in the form of small fish and Meuse for small fish and frying, especially fried pot among the poor, but when the river was de teme fries, but frozen and fishing became hazardous, they "pommes frites fes Netherlands and is now present Belgium, in the Meuse valley: "The inhabitants of Namur, Andenne, and Dinant, had the custom of fishing in the put them in a fryer like those here" recounts that potatoes we prior to 1680 in what was the or simply files. The word "puliar or French 11 28% sales growth into retail in UK, driven by new listings from 2H 2019. Strong sales in March after Covid19 restrictions were put in place, After strong start of the year sales to UK foodservice, dropped significantly in March due to implementation of Covid19 restrictions, Sales in Ireland 9% up on same period last year. As expected, sales have remained strong after Covid19 restrictions were put in place. > VA S-Europe > VA N-Europe > Sales & Distribution Slight reduction in Normalised PBT Reduced production capacity in China in beginning of the year, due to Covid19 impact. Gap in supply bridged with less cost- effective solutions from Europe, High raw material prices in the first two months of the year, salmon prices were significantly higher than last year the first 9 weeks of the year, From Mid-March, cost related to implementation of Covid19. contingency plans had negative impact on margins, Reduction in higher margin foodservice sales in UK, from mid March. Havelok production closed down from end of March.
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