Investor Presentaiton

ISI ICELAND SEAFOOD 1H 2023 Presentation to Investors and Analysts Results in Ireland recovering after challenging Q1 of the year > VA S-Europe > VA N-Europe > Sales & Distribution € m's Q2 23 Q2 22 1H 23 1H 22 Sales 13.3 13.1 26.4 25.7 Net margin 1.6 0.2 2.9 1.1 • Normalised EBITDA 0.5 (0.9) 0.6 (1.0) Normalised PBT* 0.2 (1.2) 0.0 (1.5) • *Normalised PBT represents Profits before tax before allowing for significant items. (་་་ང་ངང་ Sales were slightly up on 1H 22 in value terms but lower in volume Steep price increases overall have negatively impacted sales volumes of the Irish operation, Overall Grocery inflation in Ireland of • c.a. 15%. Consumers are buying less, but prices increases offset lower volumes impact leading to slight growth in sales in Euro terms, The highly competitive retail sector in Ireland is driven by price comparison between parties, which puts suppliers under constant pressure. Results in Q2 were better than the same period last year • • • Price of salmon topped in March 2023, whilst it reached the top at the beginning of May 2022, The steep price increases caused similar challenges as in the same period last year. It takes time to push cost increases through to customers, Whitefish sourcing during the summer has been challenging in all areas. Catches of the Irish fleet have reduced significantly post Brexit, Profit before tax in Q2 of €0.2m was €1.4m better than the same time last year, Outlook for the remainder of the year is good with salmon prices levelling off. Whitefish sourcing is though expected to remain challenging. 8

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