Iceland Seafood International hf.: Non-binding Letter of Intent regarding the Company's Shareholding in Ahumados Domínguez

Iceland Seafood International hf. ("ISI" or the "Company") has received a non-binding Letter of Intent regarding its 85% shareholding in Ahumados Domínguez S.A.

The Letter of Intent is non-binding, and it remains uncertain whether a transaction will ultimately be completed. Any potential transaction would be subject, among other things, to:

1. Further negotiations between the parties;
2. The execution of definitive transaction documents;
3. Satisfactory completion of due diligence;
4. Approval by ISI hf.'s bondholders and the Company's lenders, where applicable;
5. Obtaining all necessary approvals and authorizations;
6. Approval by the Board of Directors of ISI; and
7. Other customary conditions precedent applicable to transactions of this nature.

The Company will keep the market informed of any further developments in accordance with its disclosure obligations under applicable law, the Nasdaq Iceland Rules, and Regulation (EU) No. 596/2014 on Market Abuse (MAR), as implemented in Icelandic law.

For further information, please contact:

Ægir Páll Friðbertsson
CEO of ISI hf
[e-mail]
[phone]

Alda Björk Óskarsdóttir
CFO of ISI hf
[e-mail]
[phone]

This announcement contains information that may constitute inside information within the meaning of Article 7 of Regulation (EU) No. 596/2014 on Market Abuse (MAR), as implemented in Icelandic law.