Averøy, Norway, 9 July 2025

Nordic Halibut AS ("NOHAL" or "the Company") reports that the positive trend in
sales prices continued throughout the second quarter of 2025, driven by
sustained strong demand and a growing willingness among customers to pay for
premium-quality farmed halibut.

In Q2 2025, the Company achieved an average sales price of NOK 170 per kilo HOG,
representing an 11% YoY increase.

The Company recorded an increase in average harvest weights, reaching 4.3 kg HOG
compared to 4.1 kg in Q2 2024. Due to the planned harvesting of smaller-sized
fish during the quarter, the average harvest weight was lower than the 5.6 kg
HOG reported in Q1 2025. The Company anticipates higher average harvest weights
in the second half of 2025.

Sales revenue for Q2 2025 totaled NOK 32 million, with sales volumes of 191
tonnes HOG, consisting of 176 tons fresh on ice and 15 tons of value-added
products (VAP). This represents a 53% increase in volume compared to the same
period in 2024.

Through the strategic agreement with Pure Norwegian Seafood AS (PNS), NOHAL is
taking the final step toward full control of its entire value chain-from
genetics through harvesting, processing, and value-added production-ensuring
optimal quality and operational efficiency.
During the quarter, the Company initiated preparations for value-added
production by conducting market testing of sample products.

Biomass performance remained strong, with a net biomass growth of 4% during the
quarter compared to Q1 2025. Including the harvested biomass, total production
at sea for the quarter represented a biomass increase of 15.4%.

Construction of the Tingvoll facility, which commenced in Q1 2025, progressed
according to plan during Q2 2025. The facility is expected to be fully
operational by 2027 and will be instrumental in supporting Nordic Halibut's
scale-up plan, targeting an annual production of 10,350 tonnes HOG by 2031.


For further information, please contact:

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

or

CFO Are H. Strand 
are.strand@nordichalibut.no                                                     
                                                               
 +47 915 39 232


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 2027
and 10,350 tonnes HOG within 2031. Nordic Halibut will create shareholder value
by pursuing value accretive organic growth through increased production.