AKVA Group ASA · OSL:AKVA

AKVA Group ASA — NASF 2022

22 slides from AKVA Group ASA's conference presentation, Jun 23, 2022

1. Slide 1: AKVA Update

   AKVA Update Bergen, 23 June 2022 Knut Nesse, CEO

2. Slide 2: Pioneering a better future

   Pioneering a better future Pioneering a better future

3. Slide 3: Agenda: Financial status, Innovation agenda

   Agenda: Financial status Innovation agenda

4. Slide 4: Highlights Q1 2022

   Highlights|Q1 2022 Operation Innovation and Digital  High market activity with order intake of MNOK 1,048 in the  Good momentum on developing capabilities within Land quarter Based technology and advisory services  Negative EBIT impact from cost inflations and supply chain  High focus on further

5. Slide 5: Key figures Q1 2022

   Key figures|Q1 2022 Revenue EBITDA EBIT 849 MNOK 102 MNOK 59 MNOK 102 97 852 849 59 86 752 83 * 719 49 589 59 37 38 36 * Q1 18 Q1 19 Q1 20 Q1 21 Q1 22 Q1 18 Q1 19 Q1 20 Q1 21 Q1 22 Q1 18 Q1 19 Q1 20 Q1 21 Q1 22 5 * Note: Costs of 49,7 MNOK related to cyber-attack in Q1 21 are excluded Pioneering a b

6. Slide 6: Development order intake and order backlog

   Development order intake and order backlog Order intake (MNOK) Order backlog (MNOK) 1 048 1 813 1 862 1 849 35 67 1 740 85 55 1 650 880 66 254 72 29 116 741 948 829 651 616 21 27 929 867 726 14 69 34 19 Digital 735 759 Digital 693 Land Based 569 563 935 Land Based Sea Based 829 848 808 852 Sea Based

7. Slide 7: Cash flow and financial position

   Cash flow and financial position Available cash Net Working capital Net debt / EBITDA* 700 600 12,6% 13 1 800 4,1 4,20 12,1% 12,1% 3,9 11,6% 12 603 1 600 3,85 600 561 500 11 3,4 3,50 10 1 400 3,1 3,0 3,15 500 469 409 1 252 1 204 400 375 9 1 200 1 130 2,80 8,2% 368 362 8 400 1 000 934 971 2,45 7 519

8. Slide 8: Innovation agenda

   Innovation agenda

9. Slide 9: Underlying demand growth implies 1–2 million ton volume increase by 2030

   Underlying demand growth implies 1–2 million ton volume increase by 2030 Salmon demand has increased by 1.1 mill tons from 2009-2019. “Base case” assumes similar demand growth till 2030 Consumption of salmon WFE in mill. tons Key demand drivers 5.0 High demand growth (~5%)1 2019-2030: Base case pric

10. Slide 10: The paradigm shift of land-based farming will require major capex investments

    The paradigm shift of land-based farming will require major capex investments until 2030 and beyond Mill. tons WFE +5.1% 4.5 • Restricted fresh supply requires market effort to 1.9 convert demand from fresh to frozen AKVA Group implications: Europe 2.6 Demand NAM 1.3 1.0 • Asian markets critical for

11. Slide 11: Key digital trends in Aquaculture - Fusing

    Key digital trends in Aquaculture - Fusing Remote Land based Operations Farming Digital Products & Precision Fish Services Farming Sea Based Business Farming Ecosystem Pioneering a better future

12. Slide 12: Current digital solutions

    Current digital solutions 17 Pioneering a better future

13. Slide 13: Digital – Strengthened Capabilities

    Digital – Strengthened Capabilities  Digital Leadership  Product Management  Architecture and Innovation disciplines  Digital Business Development  Acquisition of 33,67% stake in Observe Technologies 18 Pioneering a better future

14. Slide 14: Three main segments within land based

    Three main segments within land based Smolt: Post-smolt: Grow-out: 100 - 250 g 250 - 1000 g 5000 g  Smolt production expected  ~160 BNOK in CAPEX to grow with approx. investments needed to reach 300,000 tons in the next 10 land-based capacity of years 800,000 tons by 2030 12 Pioneering a better fu

15. Slide 15: Strategy for Land Based Salmon Farming

    Strategy for Land Based Salmon Farming Delivering complete scope of fish Market leading Zero Water Concept farming technology (e.g. feeding, fish 1 RAS enabling sustainable and cost- 2 tanks, fish handling, camera, lights, effective production sensors, control system) Data driven insight and intelli

16. Slide 16: Pioneering a better future

    (Ge =) [e) o Sw) E Pioneering a better future

17. Slide 17: NOAP project in China being executed

    NOAP project in China being executed Pioneering a better future

18. Slide 18: Precision Farming Sea Based Solutions

    Precision Farming Sea Based Solutions Marine Precision Feeding Digital Deep farming Infrastructure for optimizing feed to support precision to minimize number for secure containment conversion and growth farming with leading, of lice treatments and efficient operations open and modular  Barges digi

19. Slide 19: High focus to further develop deep farming concepts

    High focus to further develop deep farming concepts Benefits from deep farming AKVA’s current commercial solutions  Avoid or reduce unwanted surface influences like lice, algae, ATLANTIS currents, high temperatures.™ NAUTILUS TUBENET™ SUBSEA FARMING  Better fish health and reduced mortality  Impr

20. Slide 20: We are investing in our future

    We are investing in our future Pioneering a better future

21. Slide 21: Customer focus

    CUSTOMER FOCUS AQUACULTURE 3% KNOWLEDGE RELIABILITY ENTHUSIASM! GROUR

22. Slide 22: AKVA group

    AKVAcRovuP

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