Mowi ASA

Earnings Release • Jul 18, 2022

Mowi ASA (OSE:MOWI): Q2 2022 Trading update

Mowi ASA (OSE:MOWI): Q2 2022 Trading update

Harvest volumes Q2 2022 (1)

Farming Norway 60.0 thousand tonnes

Farming Scotland 13.0 thousand tonnes

Farming Chile 14.5 thousand tonnes

Farming Canada 10.5 thousand tonnes

Farming Ireland 3.5 thousand tonnes

Farming Faroes 1.5 thousand tonnes

Total 103.0 thousand tonnes

In connection with the presentation of the Q1 2022 results, Mowi ASA guided a

total harvest volume of 99 thousand tonnes (GWE) for Q2 2022.

Note:

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

Additional information

Operational EBIT for the Group was approximately EUR 320 million in Q2 2022 (EUR

137 million in Q2 2021).

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

follows:

Norway EUR 3.95

Scotland EUR 1.60

Chile EUR 1.05

Canada EUR 3.00   (Canada West: EUR 3.85)

Ireland EUR 2.80

Faroes EUR 5.80

Operational EBIT in Consumer Products was EUR 18 million (EUR 16 million in Q2

2021) and Feed EUR 2 million in Q2 2022 (EUR 3 million in Q2 2021).

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 240

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

The complete Q2 2022 report will be released on 24 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.