Averøy, Norway, 20 November 2024

Nordic Halibut AS today publishes its interim quarterly report for Q3 2024. The
interim report and financial statement for Q3 2024 were approved by the Board of
Directors on 19 November 2024.

Q3 2024 Highlights

o Biological asset production at sea of 382 tonnes representing a 21% growth
rate compared to the outstanding biomass at the beginning of the quarter 

o Harvested 107 tonnes HOG with an average harvest weight of 4.8 kg 

o Average sales price of 163 NOK/kg HOG, representing an 11% increase YoY

o Total revenue for the quarter ended at NOK 17 million (+1% YoY). EBITDA came
in at NOK -17.2 million and net income ended at NOK -29.8 million for the period


o Nordic Halibut is well positioned to achieve the production target of 4,500
tonnes head-on-gutted (HOG) in 2027 and 10,350 tonnes in 2031

o The company expects a harvest volume of 500-540 tonnes HOG for FY 2024 which
is expected to approximately double each year until 2027.

For more information, please see the attached report or contact:
CEO Edvard Henden
edvard@nordichalibut.no
+47 91 14 11 65

or 

CFO Thomas Scheele Berg
thomas.berg@nordichalibut.no 
+47 92 88 48 56

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 a production target of 4,500 tonnes HOG
in 2027 and 10,350 tonnes HOG in 2031. Nordic Halibut will create shareholder
value by pursuing value accretive organic growth through increased production.