FirstFarms A/S

FirstFarms A/S applies for regional subsidy and adjust the expectations upwards for the years result in connection with foot and mouth disease

FirstFarms will have the opportunity to apply for subsidy for investments in animals and to cover other costs in relation to the outbreak of foot and mouth disease that was detected at the company's farm in Plavecky Stvrtok, Slovakia, on 30 March this year. 3,521 animals were subsequently culled.

"We have been given the opportunity to apply for a regional subsidy. It is possible to apply for subsidies for other costs, destroyed products and purchase of animals. The subsidy is expected to be between 40-55 mDKK. Of which 10 mDKK will impact profit in 2025. The full subsidy is expected to be paid out in 2025.

We have an expectation that our application will be positively received. The subsidy will, to a lesser extent, affect the result for 2025, as it is a condition for the subsidy for animals that a corresponding herd is maintained for 5 years. The subsidy for the purchase of animals is the most significant subsidy and is recognised as income when the conditions are met. As a result of starting production in 2025, as well as being able to recognise some subsidies as income in 2025, we are now adjusting our expectations upwards for the year's result – after we had to adjust downwards on 31 March as a direct consequence of the foot and mouth disease," says Chairman of the Board Asbjørn Børsting.

FirstFarms expects in 2025:

• An EBITDA of 85-125 mDKK. Latest expectation was 70-110 mDKK.
• An EBIT of 15-55 mDKK. Latest expectation was 0-40 mDKK.

Best regards,
FirstFarms A/S

For further information:
Please visit our website www.firstfarms.com or by contacting Co-CEO Michael Hyldgaard on phone +45 75 86 87 87.

About FirstFarms:
FirstFarms is a Danish stock exchange listed company. We operate FirstFarms with responsibility for the surrounding communities, and we deliver highest quality which is primarily sold locally. We act on new opportunities, that create value for our investors and for the surroundings. Every day, we work on creating a more sustainable company.

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• (26) FirstFarms adjusts upwards