BioMar Acquires Ecuadorian Shrimp Feed Manufacturer Alimentsa

Strategic logic in entering shrimp feed. 2 schouw+co Global aquaculture feed markets m ton Latin American shrimp feed markets North Sea Cont. Europe Americas Asia Africa Mexico ~200k t ~12 I Current core Nicaragua <25k t Venezuela <25k t ~4.7 4.5-5.0 Costa Rica <10k t I Other Salmonids, bass, bream I I Shrimp Ecuador ~650k t Peru <25k t Ecuador is the most attractive shrimp feed market in Latin America Biggest size Growth 4-5% Growth 2-3% Growth +5% EBIT ◉ EBIT EBIT <5% 5-6% >5% Highest growth ■ Most profitable Brazil ~100k t

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