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Fishermen Price Advisory


FOR IMMEDIATE RELEASE

June 19, 2021

ADVISORY: Peter Pan Seafood names base price for sockeye in Bristol Bay early in season

WHO

Peter Pan Seafood Co., LLC

WHAT

Bristol Bay sockeye prices

DESCRIPTION

At a fleet picnic in Dillingham today, June 19, Peter Pan Seafood Co., LLC committed to $1.10 per pound as its base price for sockeye salmon out of Bristol Bay this season. Peter Pan leadership says it makes this surprise announcement, posting a base price early in the season, out of respect for the fishing fleet. The early price is offered to intentionally put the fleet at ease that they will receive a fair price for the long hours and hard work they are about to endure participating in the worlds largest sockeye fishery. Moreover, Peter Pan hopes the surprise early announcement, with a significant bump over 2020, helps fishermen and their families plan their finances for the year in this great time of uncertainty.

We are checking the boxes and keeping our promises,says Jon Hickman, Vice President of Operations. “This is the first time in many years that a major processor has posted a price this early in the season, with most waiting until the majority of the Bristol Bay harvest has been completed.

This is another commitment in a string of commitments made by the company after coming under new ownership early in 2021. New Peter Pan is working to be a foundation for all fishermen, communities and the market, and it’s already delivering by keeping its promises with fishermen. Earlier this year, Peter Pan offered prices as high as $12.60 per pound for sockeye and $20 for kings in the Copper River Flats Fishery. Today’s announcement further exemplifies the company’s dedication to its fleet and the resource.

Peter Pan is implementing a new strategy this year that includes producing more value-added products and exporting less work outside of the U.S. One of the core values at New Peter Pan is to innovate and challenge convention, rewarding fresh ideas and continuous improvement. Leaders at Peter Pan note it may be somewhat unconventional to put out a base price so early, but are confident they can do it because of its new strategy and deep market penetration. Hickman said everyone at the company is looking forward to a strong and exciting season in Bristol Bay.

About Peter Pan Seafood Company, LLC

Peter Pan Seafood Company, LLC is a vertically integrated seafood company dedicated to a strong future of prosperity and sustainability composed of Peter Pan Seafood’s assets and the value-added sales channels of Northwest Fish Co., LLC (“Northwest Fish”). The ownership group is Rodger May of Northwest Fish, the Na’-Nuk Investment Fund, LP (managed by McKinley

Alaska Private Investment, LLC and McKinley Capital Management, LLC), and the RRG Global Partners Fund (managed by RRG Capital Management, LLC).

Media contact:

Kelsey Fiedler, Thompson & Co. Public Relations

kelsey@thompsonpr.com, 785-608-8144