Mowi ASA

Mowi ASA (OSE:MOWI): Q1 2022 Trading update

Harvest volumes Q1 2022 (1)

Farming Norway 59.5 thousand tonnes

Farming Scotland 10.5 thousand tonnes

Farming Chile 16.0 thousand tonnes

Farming Canada 9.0 thousand tonnes

Farming Ireland 1.0 thousand tonnes

Farming Faroes 1.0 thousand tonnes

Total 97.0 thousand tonnes

In connection with the presentation of the Q4 2021 results, Mowi ASA guided a

total harvest volume of 98 thousand tonnes (GWE) for Q1 2022.

Note:

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

Additional information

Operational EBIT for the Group was approximately EUR 207 million in Q1 2022 (EUR

109 million in Q1 2021). Blended Farming cost per kg harvested was EUR 4.77.

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

follows:

Norway EUR 2.55

Scotland EUR 1.00

Chile EUR 1.25

Canada EUR 2.55

Ireland EUR 3.70

Faroes EUR 1.50

Operational EBIT in Consumer Products was EUR 21 million (EUR 32 million in Q1

2021) and Feed EUR -4 million in Q1 2022 (EUR -3 million in Q1 2021).

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 180

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

The complete Q1 2022 report will be released on 11 May 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.

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