Icelandic Salmon As · OSL:ISLAX
Icelandic Salmon As — Q3 2026 Earnings Presentation
8 slides from Icelandic Salmon As's earnings presentation, November 2026
Slide 1: 3Q 2026 Quarterly Presentation
3Q 2026 QUARTERLY PRESENTATION
Slide 2: This is Icelandic Salmon
THIS IS ICELANDIC SALMON Icelandic Salmon AS is listed on the Euronext Growth market in Oslo, and Harvesting plant Four smolt facilities, NASDAQ First North in Reykjavik. in Bíldudalur Current capacity is The company is the sole owner and sufficient for 25-30 BRCGS* certified parent company of Arnar
Slide 3: Improved biological performance and reduced cost level
Improved biological performance and reduced cost level ▪ Harvested 5.200 tonnes and operational EBIT of EUR 1.4m for third quarter, Harvest Operational EBIT increasing from 3.800 tonnes and EUR 9.4m loss in the same period last year (Thousand tonnes gw) (EUR/kg.) 5,5 0,70 ▪ Improved biological perfo
Slide 4: Group balance
Group balance Assets Liabilities (EURm) (EURm) 273 270 281 168 153 154 31 127 123 135 26 27 128 127 137 ▪ Total assets increased by EUR 11m to EUR 281m 147 147 145 ▪ Equity ratio decreased from 43% to 40% ▪ Fair value adjustments of EUR 0.2m 31.3.2026 30.6.2026 30.9.2026 31.3.2026 30.6.2026 30.9.202
Slide 5: Net interest-bearing debt
Net interest-bearing debt Change in NIBD incl. leasing - QoQ (EURm) +1,9 134,4 +2,6 +7,9 +0,6 123,7 -5,1 11,9 ▪ NIBD Incl. Leasing increased by EUR 10,7m +2,7 — NIBD increased by EUR 10,4m 11,6 — Leasing increased by EUR 0,3m QoQ 122,5 ▪ Positive cashflow from EBITDA in the quarter of EUR 5.1m 112,1
Slide 6: Sales and market update
6 Sales and market update ▪ Strong improvement in price achievement compared to market price — 0% tariff into US market — Strong interest in China market ▪ Historically low share of harvested volume sold into European market in Q3, 47%. Compared to Q2 with 65%. ▪ Improved market price YoY — Achived
Slide 7: Outlook
Outlook ▪ Volume guidance 2026 at 20,000 tonnes. 1.300 tonnes moved to 2027 ▪ Volume guidance for 2027 is 18.000 tonnes, — Affected by biological challenges in Q4 2026 ▪ Stable cost level expected in Q4 . ▪ Contract share expected at 10% for FY 2026 ▪ Continued work on 10.000 tonnes license in Isafj
Slide 8: Thank you for your attention
Thank you for your attention Please “Raise hand” in Teams, or type in the chat, to ask questions for the Q&A session For more information, please visit www.arnarlax.is SUSTAINABILITY – IT’S IN OUR NATURE 8