Averøy, Norway, 5 March 2025

Nordic Halibut AS today publishes its interim quarterly report for Q4 2024. The
interim report and financial statement for Q4 2024 were approved by the Board of
Directors on 4 March 2025.

Q4 2024 Highlights

* Biological asset production at sea of 443 tonnes representing a 21% growth
rate compared to the outstanding biomass at the beginning of the quarter 

* Harvested 171 tonnes HOG with an average harvest weight of 6.3 kg
 
* Average sales price of 183 NOK/kg HOG, representing a 12% increase YoY

* Total revenue for the quarter ended at NOK 31.7 million (+24% YoY). EBITDA
came in at NOK -6.3 million and net income ended at NOK -24.1 million for the
period 

* 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

* Total revenue for FY 2024 amounted to NOK 90.6 million with an EBITDA of NOK
-37.3 million. Total harvested volume for FY 2024 was 539 tonnes HOG

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

CEO Edvard Henden
edvard@nordichalibut.no
+47 91 14 11 65

or 

CFO Are Strand
are.strand@nordichalibut.no 
+47 91 53 92 32

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 within 2031. Nordic Halibut will create shareholder value by
pursuing value accretive organic growth through increased production.