Mowi ASA

Mowi ASA (OSE:MOWI): Q1 2024 Trading update

Harvest volumes Q1 2024 (1)

Farming Norway 55.0 thousand tonnes

Farming Scotland 14.5 thousand tonnes

Farming Chile 12.5 thousand tonnes

Farming Canada 8.5 thousand tonnes

Farming Ireland 1.0 thousand tonnes

Farming Faroes 2.5 thousand tonnes

Farming Iceland (Arctic Fish) 2.5 thousand tonnes

Total 96.5 thousand tonnes

Note:

(1) The harvest volumes are provided in gutted weight equivalents (GWE).

Additional information

Operational EBIT for the Group was approximately EUR 201 million in Q1 2024.

Blended farming cost was EUR 6.05 per kg in the quarter. Issues with winter

sores and string jellyfish have resulted in low superior share and average size

on fish harvested in Norway. This has impacted price and cost performance

accordingly.

Total Q1 Operational EBIT per kg through the value chain was approximately as

follows:

Norway EUR 2.50

Scotland EUR 2.20

Chile EUR 0.95

Canada EUR (0.25)

Ireland EUR 3.90

Faroes EUR 3.50

Iceland EUR 3.80

Operational EBIT in Consumer Products was EUR 24 million. Operational EBITDA in

Feed was EUR 6 million in Q1 2024. Reported financial net interest-bearing debt

(NIBD) for the group was approximately EUR 1 820 million at the end of the

quarter (excluding IFRS 16 effects). The complete Q1 2024 report will be

released on 8 May at 06:30 CET.

Please refer to the Annual Report for detailed descriptions and reconciliations

of non-IFRS measures such as Operational EBIT and NIBD.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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