QUARTERLY REPORT. 3rd quarter 2010

QUARTERLY REPORT 3rd quarter 2010

Group Group operating revenue in the third quarter of 2010 was MNOK 147.3 compared to MNOK 126.4 last year. EBITDA was MNOK 5.7 compared to MNOK 3.3 last year. EBIT was MNOK 2.3 compared to MNOK -0.1 last year, and total result MNOK 91.5 compared to MNOK -3.0 last year. Operating revenues per 30 September amounted to MNOK 419.7 compared to MNOK 367.3 last year. EBITDA was MNOK 15.7 compared to MNOK 4.4 last year. EBIT was MNOK 5.6 compared to MNOK -6.4 last year. Total result was MNOK 78.2 compared to MNOK -6.5 last year. The Group's balance sheet as of 30 September amounted to MNOK 723.7 compared to MNOK 657.2 last year. Book equity is MNOK 293.3, representing an equity ratio of 40.5%. Net interest bearing debt is MNOK 63.4 compared to MNOK 347.9 last year. There has been positive profit development in all subsidiaries and associated companies. 19 July 2010 Domstein sold the stockholding in Norway Pelagic for MNOK 303. The sale gives an accounting profit of MNOK 92 which is recognized in the 3rd quarter. The Board of Directors will, before the end of the year, decide on the disposition of any surplus capital. 80 Operating revenues (mnok) 76 12,0 EBITDA (mnok) 70 60 50 61 58 63 61 61 68 10,0 8,0 10,0 40 6,0 4,8 5,2 5,7 30 4,0 3,3 20 10 2,0 1,9 0 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 0,0-2,0 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10-0,9 Domstein Fish Domstein Fish is a supplier of fresh and frozen white fish products with high quality and environmental profile, based on line-caught fish and farmed cod. The main market is Europe. Net operating revenues 96,3 76,4 273,6 222,7 EBITDA 3,1 1,1 10,8 1,5 EBIT 2,1 0,1 7,7-2,5 Operating margin 2,1 % 0,1 % 2,8 % -1,1 % The whitefish market has developed positively giving a 26 % increase in revenues in the third quarter and 23 % so far this year. There have been good demands for whitefish in the European market, and especially a strong increase in sales of eco-labelled products in Sweden. The positive profit development is expected to continue in the fourth quarter.

Domstein Sverige Domstein Sverige handles production and marketing of seafood in Sweden. The main products are breaded fish, fish au gratin, ready meals and caviar. The factory in Vardø, which produces "Arctic Delight" caviar is included in Domstein Sverige. Net operating revenues 68,2 63,4 190,8 182,5 EBITDA 4,5 4,2 10,6 10,9 EBIT 2,7 2,3 5,3 5,5 Operating margin 4,0 % 3,7 % 2,8 % 3,0 % Sales and profitability development in Domstein Sverige have been stable, and this is expected to continue in the fourth quarter. Ervik Havfiske (50 %) Ervik Havfiske AS is Norway's largest bank line shipping company with operations both in Norway and abroad. Domstein s share of net income in Ervik Havfiske is included in the financial results as income from investments in associated companies, and amounted in the third quarter to MNOK -0,7 and MNOK -0,8 accumulated. Net operating revenues 61,5 47,6 200,0 147,7 EBITDA 6,6 4,4 25,5 11,7 EBIT 3,6 1,8 16,5 4,1 Operating margin 5,8 % 3,8 % 8,2 % 2,8 % Third quarter is low season for the longliners, mainly catching ling, tusk and haddock, whereas large cod quotas are remaining to the fourth quarter. Average prices are increased by 5 % compared to the third quarter last year. Large quotas and higher fish prices are expected to give improved profitability in the fourth quarter. Domstein Eiendom (49 %) Domstein Eiendom owns and rents out office and factory buildings to Norway Pelagic and companies in the Domstein group. Net lease income amounts to MNOK 25.9 in 2010. Domstein Eiendom is classified as assets held for sale, and should therefore not be recognized. The company contributes with MNOK 5 in cash during 2010. Net operating revenues 6,5 6,4 19,4 19,2 EBITDA 6,3 6,3 19,0 18,8 EBIT 3,6 3,5 10,8 10,3 Operating margin 55,6 % 54,9 % 55,4 % 53,9 %

Naustvik Enghav (35 %) Domstein Enghav s Norwegian business was from 1 July 2008 merged with Naustvik AS. The company operates sales and distribution of fish and other food products to the Norwegian retail and catering market. Naustvik Enghav is the market leader for fish and seafood in Norway. Domstein s share of net income in Naustvik Enghav is included in the financial result, income from investments in associated companies, and amounted in the third quarter to MNOK -0.1 and MNOK 0.0 accumulated, in addition to a dilution effect related to the placement and debt conversion of MNOK -6.9. Net operating revenues 207,5 220,2 599,8 627,7 EBITDA 4,4 1,9 15,1 4,2 EBIT 1,2-0,5 5,5-3,2 Operating margin 0,6 % -0,2 % 0,9 % -0,5 % Naustvik Enghav has had a decline in sales both in the third quarter and so far this year. There has nevertheless been a strong increase in profitability as a result of improved gross profit and reduced operating costs. The positive development is expected to continue in the fourth quarter. Norway Pelagic The shares in Norway Pelagic were sold in July 2010. The share of net income in Norway Pelagic as per the second quarter 2010 is included in the financial results as income from investments in associated companies, and amounted to MNOK -0,7 mill. Shareholders information Domstein ASA is listed on the Oslo Stock Exchange with ticker DOM. The market value of the company as of 30 September 2010 was MNOK 196, based on a share price of NOK 2.55. The number of outstanding shares is 76 907 402. Måløy, 3 November 2010 The Board of Directors of Domstein ASA

Resultatregnskap konsern 2010 Q3 2010 Q3 2009 YTD 2010 YTD 2009 Consolidated operating results Group Nok.mill. Netto driftsinntekt Operating revenues 147,3 126,4 419,7 367,3 Varekostnad Raw materials and consumables used -105,5-89,0-289,2-252,1 Øvrige betalbare driftskostnader Other operating expenses -36,0-34,1-114,8-110,7 Sum driftskostnader Total operating expenses -141,6-123,1-404,0-362,8 EBITDA 5,7 3,3 15,7 4,4 Ordinære avskrivinger Ordinary depreciation -3,4-3,4-10,1-10,8 EBIT 2,3-0,1 5,6-6,4 Inntekt på investering i tilknyttet selskap -1,3 3,6-8,9 23,7 Income from investments in associated companies Netto finanskostnader Net financial expenses 87,8-6,1 76,8-19,3 Ordinært resultat før skatt Result before tax 88,9-2,6 73,5-2,0 Skattekostnad Taxes 0,1 0,1 0,3 0,3 Resultat etter skatt Result after tax 88,9-2,5 73,8-1,7 Andre inntekter og kostnader (other income and expenses ) Omregningsdifferanser (conversion differences) 2,5-0,5 4,4-4,8 Sum totalresultat for perioden (total result for the period) 91,5-3,0 78,2-6,5 Resultat margin Profit margin 60,4 % -2,0 % 17,6 % -0,5 % Driftsmargin Operating margin 1,6 % -0,1 % 1,3 % -1,7 % Resultat pr. aksje (nok) Profit per share 0,96-0,02 Utv.resultat pr. aksje (nok) Diluted profit per share 0,87 0,02 ROCE 19,86 % 3,12 % Egenkapitalandel (inkl min int) Book equity ratio 40,53 % 31,66 % Utestående aksjer Outstanding shares 76 907 402 76 907 402 - Denne rapporten er utarbeidet I henhold til International Financial Reporting Standards IFRS herunder standard for delårsrapportering ( IAS 34 ). Regnskapet er ikke revidert. - This report is produced according to International Financial Reporting Standards IFRS Including the interim report standard ( IAS 34 ). The financial statements are unaudited. - ved utarbeidelse av delårsrapporten er det benyttet de samme prinsipper som i årsregnskapet - When preparing interim reports we utilise the same principles as for the annual report

Balanse konsern 30.09.10 30.09.09 2009 Consolidated balance sheet Group Nok.mill. Immaterielle eiendeler Intangible fixed assets 13,2 13,0 12,6 Varige driftsmidler Tangible fixed assets 67,9 74,8 70,5 Finansielle anleggsmidler Financial fixed assets 90,8 330,6 339,2 Anleggsmidler Total fixed assets 171,8 418,4 422,3 Varer Inventories 130,4 130,0 114,6 Fordringer Receivables 107,9 77,6 89,7 Omløpsmidler holdt for salg Current assets held for sale 24,2 26,1 24,2 Betalingsmidler Cash and equivalents 289,4 5,0 8,0 Omløpsmidler Current assets 551,8 238,8 236,4 Sum eiendeler Total assets 723,7 657,2 658,7 Innskutt egenkapital Equity contributions 59,9 59,9 59,9 Opptjent egenkapital Earned equity 233,4 148,2 155,5 Minoritetsinteresser Minority interests 0,0 0,0 0,0 Egenkapital og minoritetsinteresser Total equity 293,3 208,0 215,3 Avsetning for forpliktelser Provisions 18,8 24,6 23,8 Rentebærende langsiktig gjeld Interest bearing long term debt 132,2 187,1 189,6 Øvrig langsiktig gjeld Other long term liabilities 1,2 1,6 1,4 Sum annen langsiktig gjeld Total other long term liabilities 133,4 188,7 191,1 Rentebærende kortsiktig gjeld Interest bearing current liabilities 220,6 165,8 156,9 Ikke-rentebærende kortsiktig gjeld Non interest bearing current liabilities 57,7 70,1 71,6 Kortsiktig gjeld holdt for salg Current liabilities held for sale 0,0 0,0 0,0 Kortsiktig gjeld Current liabilities 278,3 235,9 228,5 Sum egenkapital og gjeld Total equity and liabilities 723,7 657,2 658,7 Netto rentebærende gjeld Net interest bearing debt 63,4 347,9 338,6 Egenkapitalandel Equity ratio 40,5 % 31,7 % 32,7 % Kontantstrømoppstilling konsern Consolidated cash flow statement Group 30.09.10 30.09.09 2009 Kontantstrøm operasjonelle aktiviteter Net cash flow from operating acitvities -42,0-4,7-6,3 Kontantstrøm investeringsaktiviteter Net cash flow investment activities 324,3-18,0-4,4 Kontantstrøm finansieringsaktiviteter Net cash flow from financial activities -1,2 2,1-6,9 Effekt av valutakursendringer Effect of change in exchange rates -0,3 0,1 0,2 Endring av kontanter og innskudd Net change in cash and bank deposits 281,4-20,7-17,8 Kontanter og innskudd ved periodens begynnelse Cash and bank deposits at start of period 8,0 25,8 25,8 Kontanter og innskudd ved periodens slutt Cash and bank deposits at end of period 289,4 5,0 8,0 Avstemming av egenkapital Change in equity 30.09.10 30.09.09 31.12.09 Egenkapital ved begynnelsen av perioden Equity at the start of the period 215 344 214 881 214 881 Resultat i perioden Result for the period 73 787-1 710 7 420 Omregningsdifferanser Conversion differences 4 407-4 793-5 920 Andre egenkapital justeringer Other changes in equity -269-334 -1 037 Egenkapital ved slutten av perioden Equity at the end of the period 293 269 208 044 215 344

Note 1 Regnskapsprinsipper Accounting principles Det konsoliderte kvartalsregnskapet i Domstein ASA konsern er utarbeidet i samsvar med IAS 34 Delårsrapportering. Kvartalsregnskapet omfatter ikke all informasjon som kreves i et fullstendig årsregnskap. Regnskapsprinsippene er beskrevet i årsrapporten for 2009. The group accounts for the third quarter have been prepared in accordance with international accounting standards IFRS, IAS 34 Interim Financial Reporting. The quarterly accounts do not include all information required in the annual accounts. The accounting principles are described in the annual report for 2009. Note 2 Virksomhetssegment Segment reporting Domstein Sverige Domstein Fish Domstein ASA / Service + Konsern Group elim. Beløp i tusen kroner figures in NOK Q3-10 Q3-09 Q3-10 Q3-09 Q3-10 Q3-09 Q3-10 Q3-09 Netto salg segment Net revenues per segment 68 190 63 386 96 305 76 411-17 207-13 372 147 288 126 425 Segment resultat EBITDA per segment 4 529 4 231 3 052 1 122-1 883-2 013 5 698 3 340 Segment resultat EBIT per segment 2 723 2 339 2 058 67-2 433-2 478 2 348-72 Domstein Sverige Domstein Fish Domstein ASA / Service + Videreført elim. virksomhet Beløp i tusen kroner figures in Nok YTD 2009 YTD 2009 YTD 2009 YTD 2009 Netto salg segment Net revenues per segment 190 826 182 548 273 626 222 696-44 774-37 983 419 678 367 261 Segment resultat EBITDA per segment 10 593 10 916 10 801 1 454-5 721-7 958 15 673 4 412 Segment resultat EBIT per segment 5 303 5 518 7 731-2 535-7 415-9 347 5 619-6 364 Note 3 Investeringer i tilknyttet selskap Investment in associated companies Beløp i tusen kroner figures in Nok Norway Pelagic ASA Ervik Vadsø Havfiske Fryselager AS AS Enghav Naustvik Sum Domstein Eiendom Norbait DA Bokført verdi 01.01 237 650 28 575 1 093 58 660 325 978 24 177-3 738 Kapitalutvidelse/nedsettelse capital increase/decrease 7 607 7 607 3 760 Emisjonseffekter (dilution of ownership ) -6 942-6 942 Utdelt utbytteaksjer Stock dividends 0 Utdelt utbytte dividends -25 271-25 271 Salg aksjer stock realize -303 248-303 248 Gevinst salg aksjer profit stock realize 91 590 91 590 Direkte egenkapital justeringer adjustment of equity capital 0 0 Resultatandel Share of results -721-771 -182-41 -1 715-199 Bokført verdi per 30.09. 0 27 804 911 59 284 87 999 24 177-177 Domstein Eiendom er klassifisert som holdt for salg. Domstein Eiendom is classified as held for sale. Note 4 Aksjonæroversikt Shareholders Aksjer Shares Eierandel Ownership R. Domstein & Co. AS 37 914 040 49,27 % MP Pensjon 5 850 000 7,60 % Skagen Vekst AS 2 000 000 2,60 % Spectiatio AS 1 759 000 2,29 % Caiano AS 1 689 870 2,20 % NRP Seafood AS 1 350 000 1,75 % Caiano Fisk AS 1 100 000 1,43 % Sum > 1% eierandel / share 51 662 910 67,14 % Øvrige aksjonærer other shareholders 25 284 490 32,86 % Sum 76 947 400 100,00 % Note 5 Emisjon/ private placement Domstein deltok med 7,6 mill i emisjon Enghav AS i Mars 2010. Domstein participated with 7,6 mill at the private placement Enghav AS in March 2010.