Mowi ASA

Capital/Financing Update • Nov 7, 2018

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

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

The loan agreement for the EUR 340 million five year convertible bond issued by

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

provides Marine Harvest with the right to redeem the remaining outstanding bonds

at par value plus accrued interest under certain conditions.

Marine Harvest has notified the trustee for the convertible bond, Nordic Trustee

ASA, that clause 11.3 in the loan agreement has been fulfilled as the Marine

Harvest share price for at least twenty days out of a period of thirty

consecutive trading days has exceeded 130 per cent of the current conversion

price of the bonds, and that Marine Harvest is exercising its right to redeem

the bond at par value plus accrued interest.

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

November 2018 to convert their bonds into shares. The remaining outstanding loan

amount is EUR 212 million and the current conversion price is EUR 13.2321 per

share. If bondholders decide to convert all remaining bonds into shares, Marine

Harvest will issue about 16 million new shares based on the current conversion

price. Bonds that are not converted into shares will be redeemed at par value

plus accrued interest on 6 December 2018.

As announced on 31 October 2018, the Board of Marine Harvest ASA resolved on 30

October 2018 to distribute a quarterly dividend of NOK 2.60 per share in the

form of ordinary dividend. Marine Harvest ASA's shares listed on the Oslo Stock

Exchange will be traded ex dividend from and including 9 November 2018.

According to the bond agreement, the conversion price will be adjusted on 9

November 2018 and bondholders exercising their conversion rights between today

and 15 November 2018 will be issued a number of shares using the adjusted

conversion price.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.