Mowi ASA

Remuneration Information • Jun 16, 2022

Mowi ASA (OSE: MOWI): Share option scheme for senior executives and allocation of options 2022

Mowi ASA (OSE: MOWI): Share option scheme for senior executives and allocation of options 2022

At Mowi ASA's (the "Company") annual general meeting ("AGM") on 13 June 2022 the

Board of Directors was authorised to grant options under the Share Option Scheme

to Senior Executives, as described in Mowi's updated guidelines for remuneration

of leading personnel (the "Guidelines"). On 16 June 2022 the Board of Directors

granted 1.57 million options with a strike price of NOK 252.0070, corresponding

to 107.5% of the volume weighted average share price on the Oslo Stock Exchange

at the date of the AGM, to a total of 31 individuals.

In accordance with the Guidelines, the options have a term of 4 years but will

become exercisable immediately if a mandatory bid is made for all of the shares

in Mowi, if a voluntary offer is followed-up with a forced transfer of shares in

accordance with the Norwegian Securities Trading Act or if Mowi is the non-

surviving entity in a merger with another company.

The exercise of 50% of the options awarded to an option holder is conditional on

achievement of performance criteria, measured in the development of the share

price of the Company's shares compared with those of peers ("Performance-based

Options"). The exercise of the remaining 50% of the options awarded to an option

holder is not conditional on achievement of such performance criteria ("Ordinary

Options").

The number of shares and the strike price will be adjusted for dividends and

changes in the equity capital during the term of the option according to the

Oslo Stock Exchange's derivative rules and provisions in the option agreements.

Total profit through the exercise of Performance-based Options in a year is

capped at one year's salary for the option holder, and total profit through the

exercise of Ordinary Options in a year is capped at one year's salary for the

option holder. If the profit exceeds this limit, the number of shares to be

issued will be reduced accordingly.

The following primary insiders in the Company have been allocated options

according to the above, please see attached allocation details. The primary

insiders have the following number of shares and options, adjusted for dividends

paid, in the Company.

-------------------------------------------------------------------------------

Total number of Options granted Total options

Name shares owned in 2022 outstanding

-------------------------------------------------------------------------------

Ivan Vindheim

(CEO) 7,557 200,000 760,577

Kristian Ellingsen

(CFO) 897 100,000 259,841

Øyvind Oaland

(COO Farming Norway) 5,285 100,000 314,892

Ben Hadfield

(COO Farming Scotland, Ireland,

Faroes and Canada East) 7,767 100,000 480,044

Fernando Villarroel

(COO Farming Americas) 309 100,000 338,240

Ola Brattvoll

(COO Sales & Marketing) 10,128 100,000 480,044

Atle Kvist

(COO Feed) 440 100,000 286,625

Catarina Martins

(CTO & Chief Sustainability

Officer) 2,342 25,000 103,384

Anne Lorgen Riise

(Chief HR Officer) 1,255 25,000 131,651

Kim Galtung Døsvig

(Investor Relations & Head of

Treasury) 1,033 25,000 131,651

-------------------------------------------------------------------------------

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.