Mowi ASA

M&A Activity • Dec 19, 2016

Marine Harvest (OSE:MHG, NYSE:MHG): Marine Harvest nominated to purchase farming assets on the East Coast of Canada

Marine Harvest (OSE:MHG, NYSE:MHG): Marine Harvest nominated to purchase farming assets on the East Coast of Canada

Marine Harvest is pleased to announce that we have been nominated by the

Receiver of all the assets owned by the Gray Aqua Group of Companies ("the

Company"), to purchase the Company. The acquisition price on a cash and debt

free basis is CAD 15 million. The Company is based on the East Coast of Canada

and is currently in receivership. The acquisition is important from a strategic

point of view, as it further broadens Marine Harvest's global farming footprint

in a country where we are already present on the West Coast. The market for

salmon in North-East America continues to develop very favourably, and the

acquisition represents as such a compelling value proposition.

The assets purchased include one hatchery in New Brunswick, two farming licenses

in New Brunswick, seven farming licenses in Newfoundland, and one processing

plant in Newfoundland. Currently no fish has been stocked in the above mentioned

licenses. In addition, the Company has applied for 17 farming licenses in

Newfoundland which are yet to be approved. Marine Harvest is looking forward to

engage with the relevant authorities to secure additional farming locations as

well as to establish new jobs in the local communities.

Marine Harvest will shortly start to detail a production plan and investment

framework for the East Coast of Canada, including building an organisation

capable to produce 15,000-20,000 tonnes gutted weight equivalent of salmon per

annum.

Closing of the transaction is subject to signing a final purchase agreement as

well as approval by the Court of Queen's Bench of New Brunswick.

For queries, please contact:

Alf-Helge Aarskog (CEO) +47 905 97 529

Ivan Vindheim (CFO) +47 958 71 310

Forward-looking Statements

This stock exchange announcement may be deemed to include forward-looking

statements, such as statements that relate to the production capacity of the

acquired assets, the expected harvest volume of the acquired assets and the

expected closing of the transaction and its timing. Forward-looking statements

are typically identified by words or phrases, such as "expect" and similar

expressions or future or conditional verbs such as "may", "will", "should",

"would", and "could". Forward-looking statements are Marine Harvest's current

estimates or expectations of future events or future results. Actual results

could differ materially from those indicated by these statements because the

realization of those results is subject to many risks and uncertainties,

including operational factors that may affect the production capabilities of the

acquired assets and failure to satisfy conditions precedent for the acquisition.

All forward-looking statements included in this release are based on information

available at the time of the release, and Marine Harvest assumes no obligation

to update any forward-looking statement.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.