Mowi ASA

Earnings Release • Jul 14, 2023

Mowi ASA (OSE:MOWI): Q2 2023 Trading update

Mowi ASA (OSE:MOWI): Q2 2023 Trading update

Harvest volumes Q2 2023 (1)

Farming Norway 61.5 thousand tonnes

Farming Scotland 18.0 thousand tonnes

Farming Chile 14.0 thousand tonnes

Farming Canada 9.5 thousand tonnes

Farming Ireland 1.5 thousand tonnes

Farming Faroes 3.0 thousand tonnes

Farming Iceland (Arctic Fish) 0.1 thousand tonnes

Total 107.5 thousand tonnes

In connection with the presentation of the Q1 2023 results, Mowi ASA guided a

total harvest volume of 104.5 thousand tonnes (GWE) for Q2 2023.

Note:

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

Additional information

Operational EBIT for the Group was approximately EUR 300 million in Q2 2023 (EUR

320 million in Q2 2022). EUR/NOK for the quarter was 11.66.

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

follows:

Norway EUR 3.35

Scotland EUR 2.30

Chile EUR 1.80

Canada EUR 1.30

Ireland EUR 1.40

Faroes EUR 4.60

Operational EBIT in Consumer Products was EUR 37 million (EUR 18 million in Q2

2022). Operational EBITDA in Feed was EUR 10 million in Q2 2023 (EUR 6 million

in Q2 2022).

Reported financial net interest-bearing debt (NIBD) for the group was

approximately EUR 1 665 million at the end of the quarter (excluding IFRS 16

effects), of which EUR 90 million in Arctic Fish.

The complete Q2 2023 report will be released on 23 August 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.