Group operating revenue in Q1 2024 totalled NOK 8,373 million, compared with NOK
8,002 million in Q1 2023, an increase of 5%. All the operating segments posted
an increase in revenue.

Adjusted EBITDA in Q1 2024 was NOK 1,660 million, up from NOK 1,627 million in
Q1 2023.

Adjusted EBIT in Q1 2024 was NOK 1,160 million, on par with NOK 1,174 million in
Q1 2023. This gives an adjusted EBIT margin of 14%, down from 15% in Q1 2023.

Norskott Havbruk AS (Scottish Sea Farms) and Pelagia Holding AS are the two
largest joint ventures. As previously reported, Norskott Havbruk (Scottish Sea
Farms) had an extremely challenging 2023. It is therefore pleasing that the
substantial improvement in operating performance is now materialising in the
company's results. Pelagia is sustaining its positive development, and executed
one of its high seasons for production of end products in Q1. This level of
production provides a good basis for sales volumes in the coming quarters.
Income from associates before fair value adjustment related to biological assets
totalled NOK 58 million in Q1 2024 (Q1 2023: NOK 75 million). The equivalent
figure including fair value adjustment of biological assets was NOK 62 million
(Q1 2023: NOK 66 million). The Group's joint ventures and associates have
generated good results over time, are significant enterprises in their segments
and represent substantial values for Austevoll Seafood ASA. Please refer to note
5 for more detailed information on associates. 

Adjusted EBIT including revenue from associates was NOK 1,221 million in Q1
2024, against NOK 1,240 million in the same period of last year.

Operating profit after fair value adjustment of biological assets and other
income and expenses totalled NOK 1,245 million in Q1 2024 (Q1 2023: NOK 1,679
million). Fair value adjustment related to biological assets was positive at NOK
62 million, a significant decrease from NOK 460 million in Q1 2023. 

The Group's net interest expense in Q1 2024 was NOK -152 million (Q1 2023: NOK
-116 million). Net other financial expenses in the quarter totalled NOK -7
million. The equivalent figure in Q1 2023 was NOK 4 million.

The Group reported profit before tax in the quarter of NOK 1,085 million (Q1
2023: NOK 1,568 million). 
In May 2023, the Storting voted to introduce a so-called resource rent tax of
25% on earnings from sea-based production of salmon and trout. The legislation
was implemented with retroactive effect from 1 January 2023. The resource rent
tax comes on top of ordinary tax of 22%, giving a total tax rate of 47% for the
activity concerned/scope of the tax wedge. The estimated tax expense for Q1
2024, including resource rent tax, is NOK -346 million. No resource rent tax was
estimated for Q1 2023 because no sufficiently reliable estimates were available
at that stage.

Profit after tax in Q1 2024 was NOK 739 million, against NOK 1,223 million in Q1
2023. 

For further information please see attached report and presentation.

Questions and comments may be addressed to the company's CEO, Arne Møgster, or
to CFO, Britt Kathrine Drivenes.

This information is subject of the disclosure requirements acc. to Section 5-12
vphl (Norwegian Securities Trading Act).