Mowi ASA

Marine Harvest ASA: MHG - EUR 340 million Convertible Bond Agreement 2015/2020 ISIN NO 001 0748742- Exercise of conversion

Reference is made to the stock exchange release issued on 7 November 2018, where

Marine Harvest announced that it had exercised its right to redeem the

outstanding bonds under the EUR 340 million five year convertible bond issued by

Marine Harvest in 2015, maturing on 5 November 2020 (ISIN NO 001 0748742) par

value plus accrued interest.

The loan agreement provided the bondholders the period up to and including 15

November 2018 to convert their bonds into shares.

Bondholders representing an aggregate principal loan amount of EUR 211.2 million

have elected to convert their bonds into shares. The conversion price is EUR

13.0630 per share. Marine Harvest will accordingly issue approximately 16.2

million new shares. The new shares will be issued on or about 22 November 2018.

As a consequence, some of the bondholders will receive the shares earlier than

the conversion date pursuant to the loan agreement. Such early delivery shall

not amend or affect the bondholders' rights under the loan agreement.

In addition, the company received a conversion notice of EUR 0.5 million on 6

November 2018, one day prior to exercising the call option, and will arrange for

conversion in accordance with the bond agreement.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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