Regulatory press release

Måsøval Q1-2025 report

Sistranda 22.05.2025

Please find enclosed the Q1 report for Måsøval.

This morning Måsøval announced it’s Q1 results. In accordance with a trading update the Group reports a harvest volume of 5 226 GWT, this includes 621 GWT harvested on co-location agreements. Yielding revenues of mNOK 681.

Financially the quarter was characterized by lower margins compared to Q1 2024. Margins in region Mid fell as a result of lower market prices and harvest of expensive biomass due to high sea lice pressure in 2H 2024. Margins in region West was affected by Pasteurellosis at one site while other sites in the region performed well.

Looking forward our CEO Helge Kvalvik comments “We ended a though quarter with a weaker financial performance than expected. Looking forward I see lower expected cost and improved superior share. We are excited to start VAP production at TL52 from Q2 and in the quarter we were chosen as partner to Møre and Romsdal County Council to operate an educational licence for 10 years.”

Måsøval’s CEO Helge Kvalvik and CFO Anders Hagestande will present the results in Norwegian at 08:00 at Auditorium H2, Haakon VIIs gate 2, Vika. The presentation can also be followed via this link: https://channel.royalcast.com/landingpage/hegnarmedia/20250522_3/

The presentation and the report are attached in this notification.

Forward looking statements:
This release may be deemed to include forward-looking statements, such as statements that relate to Måsøval's goals and strategies, salmon prices, ability to increase or vary harvest volume, production capacity, trends in the seafood industry, restructuring initiatives, business prospects and positioning with respect to market, demographic and pricing trends, strategic initiatives, and the effects of any extraordinary events and various other matters (including developments with respect to laws, regulations and governmental policies regulating the industry and changes in accounting policies, standards and interpretations) on Måsøval's business and results. Forward-looking statements are Måsøval's current estimates or expectations of future events or future results. Actual results could differ materially from those indicated by these statements because the realization of those results is subject to many risks and uncertainties. All forward-looking statements included in this release are based on information available at the time of the release, and Måsøval assumes no obligation to update any forward-looking statement.

About Måsøval
Måsøval is a fully integrated producer of Atlantic salmon with more than 50 years of operational experience. Based on the island of Frøya in Central Norway, the company controls the entire value chain -from smolt production to sea-based farming, harvesting, processing, and global sales.

This integrated model ensures full control, operational efficiency, and consistent delivery of premium Atlantic salmon to the global market. Måsøval is committed to sustainable growth, fish welfare, and long-term value creation.