Nordic Halibut AS - Operational update Q2 2025

Averøy, Norway, 9 July 2025

Nordic Halibut AS ("NOHAL" or "the Company") reports that the positive trendinsales prices continued throughout the second quarter of 2025, driven bysustained strong demand and a growing willingness among customers to pay forpremium-quality farmed halibut.

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

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

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

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

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

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

For further information, please contact:

CEO Edvard Hendenedvard@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 WesternNorwayand with headquarters in Averøy, Nordmøre. The Company has a fully integratedand well-developed value chain from genetics to sales and has had asignificantbreakthrough in early phase production. A growth plan to expand productionvolumes is implemented with production target of 4,500 tonnes HOG within 2027and 10,350 tonnes HOG within 2031. Nordic Halibut will create shareholdervalueby pursuing value accretive organic growth through increased production.

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