Averøy, Norway, 15 April 2024

Nordic Halibut AS ("NOHAL" or "the Company") has observed increased price levels
in recent quarters. Aligned with the strategic harvest plan, which emphasizes
biomass growth to support the adjusted commercial targets, harvest weights
experienced a slight decrease during Q1 2024, averaging at 4.9 kg (4.4 kg HOG).
This decline in average harvest weight compared to previous quarters led to an
average sales price of 163 NOK/kg in Q1 2024, marking a 3% year-on-year decrease
and a 1% decline from the previous quarter.

Demand for halibut, particularly in size categories above 5 kg, remained robust,
resulting in strong price performance across all size categories compared to
previous periods. Prices for halibut sold in the 3-5 kg category surged by 19%,
while those in the 5-7 kg category increased by 6% compared to the corresponding
quarter in 2023, reaching 176 NOK/kg for the period. Halibut sold in the 7-10 kg
category maintained consistent prices year-on-year, with an average price
achieved during Q1 2024 of 187 NOK/kg.

Total revenue for the quarter amounted to NOK 22 million, with harvest volumes
reaching 150 tonnes (135 tonnes HOG).

Consistent with prior communications, the Company will prioritize facilitating a
favorable distribution of harvest weights during this phase of the growth plan.
This strategic focus aligns with the commercial strategy, aimed at increasing
harvest weights in future periods to respond to market signals. The overarching
objective remains to optimize the utilization of available biomass, reaffirming
our commitment to long-term goals, even if it entails potential impacts on
short-term harvest volumes.

For further information, please 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.