Mowi ASA

Earnings Release • Oct 17, 2022

Mowi ASA (OSE:MOWI): Q3 2022 Trading update

Mowi ASA (OSE:MOWI): Q3 2022 Trading update

Harvest volumes Q3 2022 (1)

Farming Norway 87.5 thousand tonnes

Farming Scotland 14.5 thousand tonnes

Farming Chile 17.0 thousand tonnes

Farming Canada 11.0 thousand tonnes

Farming Ireland 2.0 thousand tonnes

Farming Faroes 2.0 thousand tonnes

Total 134.0 thousand tonnes

In connection with the presentation of the Q2 2022 results, Mowi ASA guided a

total harvest volume of 131 thousand tonnes (GWE) for Q3 2022.

Note:

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

Additional information

Operational EBIT for the Group was approximately EUR 240 million in Q3 2022 (EUR

131 million in Q3 2021).

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

follows:

Norway EUR   2.55

Scotland EUR   0.30

Chile EUR    1.25

Canada EUR   -0.35   (Canada West: EUR 0.80)

Ireland EUR    -1.20

Faroes EUR    1.05

Operational EBIT in Consumer Products was EUR 30 million (EUR 22 million in Q3

2021) and Feed EUR 15 million in Q3 2022 (EUR 10 million in Q3 2021). Farming

Scotland and Ireland were negatively impacted by environmental issues related to

micro-jellyfish; incident-based mortality was EUR 0.5/kg in Scotland and EUR

3/kg in Ireland.

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 355

million at the end of the quarter (excluding IFRS 16 effects).

The complete Q3 2022 report will be released on 9 November 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.