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Regulatory press release

AFISH: Arctic Fish incident in Kvigindisdalur

Arctic Fish Holding
Arctic Fish is now under a public investigation led by MAST the Icelandic Food
and Veterinary Authority with regards to two small holes (20 x 30 cm) in the
net of a cage in Kvigindisdalur in Patreksfjordur, found on the 20th of August
2023. At that time there were about 70 000 salmon in the cage that were at 5,5
kg average size. After harvesting the cage there was a deviation in the number
of fish of 3 500 fish.

Arctic Fish takes the case and investigation with earnest intent and in close
cooperation with relevant authorities. Arctic Fish has been cooperative and
will continue to cooperate fully with relevant authorities. An internal review
has already been made and the information provided to authorities.

"We are deeply sorry that farmed salmon has escaped from our cages in
Patreksfjordur. We have been working hard to minimize the effect of the escape
and many employees have already participated in an internal review of the
incident. We understand the intentions of MAST and the need for a public
investigation on the cause of the hole in the net in Patreksfjordur, as that is
the obligation by law. We will learn from this incident and continue our work
to prevent escapes by the means and resources we have at our disposal." Stein
Ove Tveiten, CEO.

For further information kindly address questions via email to ir@arcticfish.is
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