Q4 2025 Trading Update
FARMING
In Q4 2025, the harvest volumes for Bakkafrost’s operation in the Faroe Islands and Scotland were:
| Region | Month | Q4 2025 Harvest volume (thousand tonnes HOG) |
Q4 2025 Average weight (kg) |
YTD 2025 Harvest volume (thousand tonnes HOG) |
| Faroe Islands | October | 9.5 | 5.4 | 83.6 |
| November | 7.6 | 5.9 | ||
| December | 6.2 | 5.4 | ||
| Q4 total | 25.4 | 5.2 | ||
| Scotland | October | 1.9 | 2.8 | 23.2 |
| November | 1.6 | 6.0 | ||
| December | 1.1 | 5.8 | ||
| Q4 total | 4.6 | 4.1 |
Based on preliminary numbers, Q4 2025 incident-based mortality costs in Farming were:
- Faroe Islands: 0 mDKK
- Scotland: 58 mDKK (nearly half of this was caused by the
Pasterella incident at Portree in Q3)
RESHWATER
The smolt release in Q4 2025 was (in millions):
| Q4 2025 | YTD 2025 | |
| Faroe Islands | 5.3 | 18.7 |
| Scotland | 2.2 | 7.3 |
Based on preliminary numbers, Q4 2025 incident-based mortality costs in Freshwater were:
- Faroe Islands: 0 mDKK
- Scotland: 2 mDKK (mainly culling costs at the Couldoran hatchery)
FISHMEAL, OIL AND FEED (FOF)
In Q4 2025, the volumes sourced and sold in the FOF segment were (in thousand tonnes):
| Month | Marine raw material sourcing | Feed sales | Fish meal sales | Fish oil sales |
| October | 11.1 | 18.6 | 1.2 | 0.0 |
| November | 22.8 | 14.0 | 0.0 | 0.0 |
| December | 5.9 | 14.6 | 1.2 | 0.0 |
| Q4 Total | 39.8 | 44.7 | 2.4 | 0.0 |
| YTD 2025 Total | 349.2 | 165.2 | 20.2 | 0.0 |
The full Q4 2025 report will be released on 9 February 2026 at 06:00 CET.
Contacts:
• Regin Jacobsen, CEO of P/F Bakkafrost: +298 23 50 01 (mobile)
• Høgni Dahl Jakobsen, CFO of P/F Bakkafrost: +298 23 50 60 (mobile)
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.