SalMar – Record-strong biological performance

Strong operational and biological performance in Norway resulted in a record-high harvest volume for a second quarter and a significant improvement in earnings compared with the same period last year. Higher volumes, improved fish quality, and lower costs throughout the value chain contributed positively, while an unfavourable harvest profile, with the majority of volumes harvested in June, negatively impacted price achievement during the period.

Operational EBIT for the Group amounted to NOK 1,237 million in the second quarter of 2026. Harvest volume was 81,800 tonnes and operational EBIT per kg was NOK 15.1. For Norway, operational EBIT was NOK 1,227 million, harvest volume was 71,500 tonnes, and operational EBIT per kg was NOK 17.2.

• Continued strong operational and biological performance in Norway, with a record-high harvest volume for a second quarter.
• Improved profitability in Sales & Industry, driven by higher capacity utilisation at processing facilities, improved operational KPIs following the InnovaMar upgrade, and strong sales performance during the period.
•  Successful harvesting from Ocean Farm 1, supported by strong biological performance.
•  Weak results from Icelandic Salmon and Scottish Sea Farms, driven by a high cost level throughout the value chain.

“We leave behind a quarter with a record-high harvest volume for a second quarter, driven by continued strong biological performance in Norway. Although results for the period were affected by an unfavourable harvest profile and lower market prices throughout the quarter, we maintain a strong biological status at sea, with biological KPIs continuing to reach record levels. This provides a solid foundation for further volume growth and lower costs throughout the value chain going forward,” says Frode Arntsen, CEO of SalMar ASA.

Raises 2026 volume guidance by 20,000 tonnes and expects lower cost level

SalMar increases its 2026 volume guidance by 20,000 tonnes to a total of 350,000 tonnes, including its relative share from Scottish Sea Farms. This represents 16% harvest volume growth compared with 2025. The increase is driven by strong biological performance in Norway, while guidance for other segments remains unchanged.

For the third quarter of 2026, SalMar expects a somewhat lower cost level throughout the value chain compared with the second quarter of 2026, as well as significantly higher volumes compared with the third quarter of 2025.

The company expect low global supply growth in 2026 and is experiencing strong demand for its products.

Agreement to Acquire Majority Stake in Måsøval

In July 2026, SalMar ASA entered into an agreement with Heimstø AS to acquire Heimstø’s 85,727,553 shares in Måsøval AS, corresponding to approximately 70% of the company’s share capital. The purchase price is NOK 39.50 per share, corresponding to a total consideration of approximately NOK 3.4 billion. The transaction is subject to customary closing conditions, including relevant regulatory approvals.

The transaction is expected to provide SalMar with an even stronger platform for continued sustainable growth in Central Norway, with potential for improved utilisation of resources, expertise, and infrastructure, as well as further development on the salmon’s terms and long-term value creation along the Norwegian coast.

The full report and presentation for the second quarter are attached.

SalMar's CEO Frode Arntsen and CFO Ulrik Steinvik will present the company's results today at 08:00 at Hotel Continental in Oslo. The presentation will also be webcast on www.salmar.no.

For more information, please contact:

Frode Arntsen, CEO
Tel: +47 482 06 665
E-mail: frode.arntsen@salmar.no

Ulrik Steinvik, CFO
Tel: +47 900 84 538
E-mail: ulrik.steinvik@salmar.no

Håkon Husby, Head of IR
Tel: +47 936 30 449
E-mail: hakon.husby@salmar.no

About SalMar

SalMar is one of the world's largest and most efficient producers of salmon. The Group has farming operations in Central Norway, Northern Norway, Offshore and Iceland, as well as substantial harvesting and secondary processing operations. In addition SalMar owns 50% of Scottish Sea Farms Ltd.

See www.salmar.no for more information about the company.

This information is subject to the disclosure requirements stipulated in section 5-12 of the Norwegian Securities Trading Act.

Attachments

• SalMar Q2 26 - Report
• SalMar Q2 26 - Presentation