Proximar Seafood (PROXI) Investor presentation summary

Q3 highlights

• Grow-out survival was 99.4%; September gross growth reached 303 tonnes, the highest year to date.

• Harvest share at 3 kg and above rose to 45% in Q3 from 35% in Q2; blended net price increased to NOK 71/kg from NOK 64/kg.

• Higher geosmin levels extended average purge time to 12.3 days in September, shifting the harvest schedule to protect quality; purge time is expected to return to normal.

• A second well was scheduled to start in November, doubling daily water intake to 2,000 m³ and doubling purge capacity.

Operational performance

• Average harvest weight was 2.59 kg HOG, up from 2.56 kg in Q2; share at 3 kg and above was 45%, versus 35%.

• Q3 harvest totalled 631 tonnes HOG, compared with 726 tonnes in Q2; standing biomass was 1,707 tonnes live weight at Sep. 30, versus 1,718 tonnes at Jun. 30.

• Batches transferred to grow-out after Aug. 2025 showed better performance under improved, stable conditions; 12 of 14 harvests were within ±3% of the AI camera forecast.

Price achievement

• Blended net price reached NOK 71/kg, up from NOK 64/kg in Q2; the increase was 11%, or 12% in constant currency. Q3 prices were preliminary and subject to change.

• Achieved sales price for fish at 3 kg and above was NOK 84/kg, versus NOK 75/kg in Q2.