Investor Presentaiton

aste ICELAND ISI SEAFOOD Q3 2020 Results Presentation to Investors and Analysts CARR & SONS CARR & SONS WHITE WINE COOKED IRISH MUSSELS CARR taste FIRELAND .D IRISH IRISH SALMON SONS CARF & SONS OF IRELAN IRISH WHISK SMOKED SALMON Footprint in Ireland significantly expanded with the acquisition of Carr & Sons Production of IS UK in one location from mid December From beginning of November all production that took place in Bradford has been moved to the new facility in Grimsby. Sale of property in Bradford completed, Production of the former Havelok being moved into the new facility in December, Launching of new production for Aldi taking place in December. Will start to generate benefits from Q1 2021, The process of moving the operation into one place under a single management team has turned out to be more complex and costly than anticipated, Covid19 has caused various issues in relation to the transition, with regards to coldstore space, transportation and delivery delays of equipment, Considerable cost synergies being created on top of a significant sales growth into retail. Benefits will start to come through from 1H 2021. Call option exercised to Acquistion of Carr&Sons own Oceanpath in full completed • • • • The 33% minority share acquired from the Ecock family. Ken and Trevor Ecock will continue to lead the Irish business going forward. The consideration for the shares is €9.0m with 40% of the consideration paid with shares in Iceland Seafood and 60% with cash, The Ecock family continues to be invested in the company through their shareholding Uncertain Brexit impacts for both UK and Ireland • UK operation not dependant on trading with EU, but Brexit is likely to create issues in logistics, regardless of the outcome, Scotland is the most important sourcing area for Oceanpath, Brexit will create additional costs but uncertainty to what extend. • • . • • A company producing from 1000MT of raw material predominantly salmon for Irish retail. Generated PBT of €0.9m in 2019, Will significantly expand Iceland Seafood's footprint in the Irish seafood market for retail, Stronger brand recognition with access to the market leading Nolan Quality Seafood brand, Significant synergy opportunities in sourcing, processing and logistics. These will start to come through from 2021. The Group will be a market leader in smoked and fresh seafood production for the retail market in Ireland Overview Mr. Ken Ecock Super Value Ad 5

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