Bíldudalur, 29th of October

Icelandic salmon has been informed that the Environmental and Natural Resources Board of Appeal has ruled that the Icelandic Food and Veterinary Authority (MAST) did not provide a comprehensive, weighted assessment of the potential increased risk of the spread of fish diseases and parasites before issuing a license to Arnarlax for farming of sterile salmon in Ísafjarðardjúp. As a consequence, the license, which was originally awarded on 14 June 2024, has been revoked. The Board of Appeal did also address the maritime safety

“This is unfortunate but will not affect our longterm guideance for production of fertile salmon on current licenses. We are now going over the ruling and will work with MAST on the next steps,” says CEO Bjørn Hembre

According to the ruling, such assessment of potential risk is a necessary precondition for licenses in areas where the distance between fish farming sites is less than 5 km. The Board of Appeal also addressed maritime safety issues concerning one of the three sites. Arnarlax will work with authorities and MAST on these matters and perform the necessary assessment in order for the license to be reissued.

Icelandic Salmon want to emphasize that no fish farming operations have started in Ísafjarðardjúp and therefore, the ruling will have no effect on current operations or guidance.

For further information, please contact:

CEO Bjørn Hembre
Tel: +354 620 1936
Email: bjorn@arnarlax.is

About Icelandic Salmon: Icelandic Salmon is dual-listed company, both at the Euronext Growth in Oslo and Nasdaq First North in Iceland. The company is the 100% owner of Arnarlax ehf, the leading farming company in Iceland with their head office in Bildudalur. The company is fully integrated, from egg to the fish is delivered to customers in the market, with control over all parts of the value chain.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act