Hofseth BioCare ASA: THIRD QUARTER 2026 FINANCIAL REPORT

HBC recorded total operating revenues of NOK 83.5 million in the third quarter of 2026, compared to NOK 54.9 million in the same period last year, which is the highest quarterly revenue HBC has recorded. Net operating revenues were NOK 82.1 million, up from NOK 54.8 million in Q3 2025.

EBITDA for the quarter was positive NOK 4.4 million, compared to negative NOK 21.1 million in Q3 2025. The Operational EBITDA* amounted to NOK 10.3 million (negative NOK 12.9 million in Q3 2025), excluding non-recurring and strategic development costs such as clinical trials and R&D expenses, and Berkåk project costs.

The operating result (EBIT) was negative NOK 5.7 million (-30.6) in the last quarter. Cash and cash equivalents decreased by NOK 80.6 million during the quarter, ending at NOK 33.6 million as of 30 September 2026 (65.5). Including available credit facilities, total liquidity was NOK 42.5 million at quarter-end (67.0).

Highlights in the third quarter:

• Total operating revenue of NOK 83.5 million (54.9), the highest quarterly revenue HBC has recorded, achieved with approximately 37 per cent less raw material processed than a year earlier. Gross margin rose to 55.3 per cent, from 35.4 per cent in Q3 2025.
• EBITDA turned positive at NOK 4.4 million (-21.1), an improvement of NOK 25.6 million year-on-year. Operational EBITDA* reached NOK 10.3 million (-12.9), up from effectively break-even in Q2 2026.
• Pet nutrition was the largest driver of the quarter at NOK 35.2 million, up 39.5 per cent year-on-year and 61.8 per cent on Q2 2026, with realised pet pricing up 41.1 per cent on essentially flat volume amid a tight global fish oil market.
• Human nutrition revenue grew 54 per cent year-on-year to NOK 32.2 million on 62.7 per cent higher volumes, led by OmeGo® Full Spectrum Omegas and ProGo® bioactive peptides, and now represents 39.8 per cent of external sales revenue.
• B2C recovered from the Q2 supply and logistics transition as expected: Brilliant™ Salmon Oil delivered NOK 8.5 million, up 10.9 per cent year-on-year and 50.6 per cent on Q2 2026, with Brilliant™ White Label adding NOK 1.3 million.
• Both tranches of the June private placement, NOK 144.5 million in total, of which NOK 73.2 million through conversion of receivables, were registered during the quarter. The parent company Covenant Equity Ratio ended at 34.1 per cent.
• Midsund processed 3,349 tonnes of raw material (5,288), a second consecutive quarter of rising intake, with zero hours of unplanned production stops.
• The ProGo® menopause study received IRB approval, with trial initiation expected early in Q4 2026. Recruitment in the NT-II™ knee-pain trial remains on track, with results expected late 2026 or early 2027, and AecorBio's FT-002a-O advanced toward an FDA IND submission targeted for late 2026.
• HBC signed a new raw material supplier at the end of Q3 and targets 21,000 tonnes of raw material volume in 2027.

Please find the HBC Q3 2026 Financial report attached.

For further information, please contact:
Jon Olav Ødegård, CEO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

Hofseth BioCare is a Norwegian consumer and pet health company founded on the core values of sustainability, optimal utilization of natural resources and full traceability. It upcycles the side streams of the salmon industry, taking fresh filleted salmon and converting it from a waste product into ingredients to improve human and pet health. These ingredients are ProGo®, a mix of bioactive peptides and collagen; OmeGo®, a whole salmon oil containing all the fatty acid fractions found in fish; and CalGo®/NT-II® salmon bone powder containing calcium hydroxyapatite and undenatured collagen for bone and joint health.

HBC places scientific evidence at the forefront, which has led to important academic partnerships and the identification of unique health benefits. HBC is listed on Oslo Stock Exchange with ticker “HBC”.

*) Alternative Performance Measures are further described on page 11 in the financial report.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.