Investor Presentaiton

ISI ICELAND SEAFOOD October 2019 Main Market Listing and Offering of new shares 2018: Year of transformation Acquisition of Oceanpath Iceland Seafood acquired a 67% share in the leading fresh fish. supplier to retailers in the Republic of Ireland, with local management keeping the remaining 33%. The acquisition is in line with the Group's strategy of acquiring strong value added companies Acquisition of Solo Seafood The acquisition of Solo Seafood, the owner of Icelandic Iberica was a transformational step for Iceland Seafood. The acquisition brought three major fishing and processing companies into the shareholding group, creating a vertically integrated supply chain. through to the end customer Oceanpath can utilize Iceland's seafood sourcing network in addition to having enhanced opportunities for global distribution through the Group's extensive sales network Iceland Seafood's other subsidiaries will gain from a knowledge transfer from Oceanpath's seasoned professionals Three major fishing and processing companies joining the shareholder group enables Iceland Seafood to benefit from a vertically integrated supply chain and further strengthens its supplier relationships The integrated value chain which gives the Group access to over 40,000 mt of fish and seafood products Investment of €2.9m in 2019 to increase efficiency and support further domestic growth Consolidated market strength especially in Spain, with a merger of Icelandic Iberica and Iceland Seafood Spain

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