Averøy, Norway, 28 May 2025

Nordic Halibut AS today publishes its interim quarterly report for Q1 2025. The
interim report and financial statement for Q1 2025 were approved by the Board of
Directors on 27 May 2025.

Q1 2025 Highlights

oBiological asset production at sea of 391 tonnes representing a 16,5% growth
rate compared to the biomass volume at the beginning of the quarter.

oHarvested 228 tonnes HOG, marking a 68% increase compared to the same quarter
in 2024. Average harvest weight reached 5.6 kg, up 14,3% YoY.

oAverage sales price of 193 NOK/kg, representing a 18% increase YoY

oTotal revenue for the quarter ended at NOK 44 million (+96% YoY). EBITDA came
in at NOK 21 million and net income ended at NOK 5 million for the period.

oSuccessful completion of private placement securing gross proceeds of NOK 286
million to finance key investments and growth

oFinal investment decision made on the Tingvoll facility

oEntered strategic agreement with Pure Norwegian Seafood AS, securing harvest
and processing capacity


For further information, please see the attached report or contact: 

CEO Edvard Henden 
edvard@nordichalibut.no 
+47 911 41 165

or

CFO Are Strand
are.strand@nordichalibut.no
+47 915 39 232

About Nordic Halibut AS:

Nordic Halibut is a leading farmer of Atlantic halibut located in Western Norway
and with headquarters in Averøy, Nordmøre. The Company has a fully integrated
and well-developed value chain from genetics to sales and has had a significant
breakthrough in early phase production. A growth plan to expand production
volumes is implemented with production target of 4,500 tonnes HOG within 2027
and 10,350 tonnes HOG within 2031. Nordic Halibut will create shareholder value
by pursuing value accretive organic growth through increased production.