Averøy, Norway, 28 February 2024

Nordic Halibut AS today publishes its interim quarterly report for Q4 2023. The
interim report and financial statement for Q4 2023 were approved by the Board of
Directors on 27 February 2024.

Q4 2023 Highlights

o Nordic Halibut continues to be well positioned to achieve long-term production
targets of 4,500 tonnes head-on-gutted (HOG) within 2026 and 10,350 tonnes HOG
within 2031
o The upward trend in sales prices persisted into Q4 2023, registering an
average sales price of 165 NOK/kg
o Harvested 161 tonnes (145 tonnes HOG) with an average harvest weight of 5.5 kg
during the quarter
o Total revenue in Q4 2023 ended at NOK 25 million (-21% YoY)
o Strong biological control enables new commercial strategy that will yield
better results with higher margins and increased full run-rate production
volumes long-term
o In line with expectations, EBITDA came in at NOK -11.0 million and loss for
the period ended at NOK 22.6 million in total 
o The Tingvoll facility construction progresses according to plan with financing
secured
o Capital raise of approx. NOK 205 million strengthens financial position

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

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

or 

CFO Kenneth Meyer
kenneth.meyer@nordichalibut.no
+47 452 12 424

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 2026
and 10,350 tonnes HOG within 2031. Nordic Halibut will create shareholder value
by pursuing value accretive organic growth through increased production.