Averøy, Norway, 12 July 2023 

Nordic Halibut AS ("NOHAL" or "the Company") achieved an average sales price of
155 NOK/kg in Q2 2023, representing a year-on-year increase of 7%. Average sales
price in H1 2023 ended at 164 NOK/kg (+18% YoY). The Company is witnessing a
growing willingness-to-pay and acceptance for farmed halibut in key export
markets. As awareness of the outstanding qualities and attributes of farmed
halibut products continues to rise, the price differential against wild halibut
products also continues to widen. The average export sales price for Nordic
Halibut's products during the quarter reached 171 NOK/kg, marking a 13% YoY
increase, while the average export sales price for wild halibut from Norway
stood at 109 NOK/kg, resulting in a price differential of 57%.

The established price level indicates strong potential for higher prices for
farmed halibut. Ongoing assessments of long-term strategic considerations will
determine the allocation of biomass held at sea between periods, aiming to
create a strong market presence and achieve optimized prices and revenue.
Notably, larger-sized halibut, particularly those sold at 7-9 kg and 9 kg+, are
yielding higher sales prices. Consequently, the Company's strategic commercial
focus in the upcoming periods will prioritize achieving favorable prices and
establishing a strong market presence.

In line with the strategic harvest plan for 2023, the company decreased it's Q2
harvest volume to ensure optimal utilization of biomass in H2 2023. During Q2
2023, NOHAL harvested 151 tonnes (135 tonnes in head-on-gutted (HOG) weight),
with an average harvest weight of 5.2 kg (4.7 kg HOG). Total revenue for the
quarter amounted to NOK 21 million.

In 2023, NOHAL will release 1 million fish into the sea, equivalent to the
growth phase 1 production target of 5 000 tonnes (4 500 tonnes HOG) to be
harvested within 2026. The achievement of the 2023 release milestone will
significantly reduce the risks associated with the 2026 production target. The
Company reiterates the harvest volume guiding for 2023 at 1 200 tonnes (1 080
tonnes HOG).


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 9.000 tonnes HOG within 2030. Nordic Halibut will create shareholder value
by pursuing value accretive organic growth through increased production.