Norcod (NCOD) Green financing framework presentation summary

Company overview and sustainability strategy

• Operates eight cod farming sites along Norway's coast, targeting 25,000 tonnes annual harvest by 2030, with a focus on premium, year-round supply for international markets.

• Emphasizes sustainability, animal welfare, and minimal carbon emissions, contributing to seven UN Sustainable Development Goals, including zero hunger, climate action, and life below water.

• Implements scalable production, innovative partnerships, and full value chain integration to optimize logistics, reduce unpredictability, and improve profit margins.

2030 sustainability goals and environmental impact

• Aims for 98% cod utilization, 50% reduction in Scope 1-3 emissions per kg edible yield (2023 baseline), zero escapes, 90% survival rate, and full control of maturation.

• Key measures include cod oil production from by-products, renewable energy adoption, improved feed, and advanced monitoring to minimize environmental impact.

• Feed accounts for about 70% of emissions; ongoing R&D with suppliers targets lower-impact formulations and alternative proteins.

Sustainable operations and certifications

• All marine feed ingredients are certified (MarineTrust/MSC), plant-based inputs are GMO-free and deforestation-free, and feed trials with alternative proteins show positive results.

• Production sites are certified under GlobalG.A.P., with processing certified to FSSC 22000; additional ASC and organic certifications are being pursued.

• Continuous monitoring of benthic conditions and fish maturation, with best scores in environmental assessments and proactive food safety research for raw consumption suitability.