Mowi ASA

M&A Activity • Oct 31, 2022

Mowi (OSE: Mowi): Mowi enters into a share purchase agreement to acquire 51.28% of the shares in Arctic Fish, a salmon farmer in Iceland

Mowi (OSE: Mowi): Mowi enters into a share purchase agreement to acquire 51.28% of the shares in Arctic Fish, a salmon farmer in Iceland

Mowi is pleased to announce that we have entered into a share purchase agreement

to acquire 51.28% of the shares in Arctic Fish. Arctic Fish is one of the

leading salmon farmers in Iceland, situated in the West Fjords with favorable

conditions for salmon farming. The company is listed on Euronext Growth Oslo and

the acquisition price is NOK 115 per share amounting to NOK 1.88 billion or EUR

181 million.

Arctic Fish has licenses for 10 ASC approved sites in total, providing a maximum

allowed biomass of 27,100 tonnes and another 4,800 tonnes pending approval. The

company expects to harvest 10,600 GWT in 2022.

"The Icelandic salmon farming industry is set for extensive development and

growth in the coming years and we take great pleasure in this opportunity to

play a part. Icelandic waters provide excellent growth and living conditions for

the salmon", says Ivan Vindheim, CEO of Mowi.

Mowi has followed Arctic Fish for several years and is impressed by how the

employees, management team and owners have developed Arctic Fish into one of the

leading producers of Atlantic salmon in Iceland.

"Arctic Fish's geographical footprint and competent organisation fit unusually

well with Mowi's current operations and strategy. With Mowi on board, Arctic

Fish and its other owners will be positioned for an attractive growth journey

with Mowi's extensive toolbox and strong financial position on hand, to the

benefit of local communities", says Vindheim.

The transaction is subject to consent by the EU commission and certain other

closing conditions. The consideration will be paid in cash using available

credit lines under Mowi's existing revolving credit facility.

Mowi is one of the world's leading seafood companies and the largest producer of

farm-raised salmon in the world with 466,000 GWT harvested in 2021 in six

farming countries including Norway, Scotland, Ireland, Faroes, Canada and Chile.

As the first global seafood company with an end-to-end supply chain, Mowi brings

supreme quality salmon and other seafood to consumers around the world, partly

under our own MOWI brand. Mowi is ranked as the most sustainable animal protein

producer in the world by Coller FAIRR.

With headquarters in Bergen, Norway, Mowi employs 11 500 people in 25 countries

worldwide, and is listed on the Oslo Stock Exchange. Turnover was EUR 4.2

billion in 2021.

For more information, please visit www.mowi.com.

For further information, please contact:

Ivan Vindheim, CEO, + 47 958 71 310

This announcement contains information which is considered by Mowi to be inside

information pursuant to the EU Market Abuse Regulation, and which is subject to

the disclosure requirements pursuant to section 5-12 the Norwegian Securities

Trading Act.

This announcement was published by Kim Galtung Døsvig, Investor Relations

Officer at Mowi ASA, on 31 October 2022 at 17:05 CET.