Clearwater Seafood - Economic Impact and Strategic Partnerships

Leverage Profile 4.4x Leverage Profile (Total Net Debt to Net Adj. EBITDA) 5.1x 5.0x 5.0x 5.0x 5.0x 4.9x 4.7x 4.7x L-T Target: 3.0 Times Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 M&A driven leverage comfortably digested; declining leverage expected Clearwater remarkable seafood, responsible choice 25 25

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