Mowi ASA

Report Publication Announcement • Mar 5, 2015

Marine Harvest

North Atlantic Seafood Forum - Bergen 5 March 2015 Alf-Helge Aarskog - CEO

Forward looking statements

This presentation may be deemed to include forward-looking statements, such as key determinants for future growth, goals and strategies, including strategic focus areas, ability to increase or vary harvest volume, the anticipated impacts measures aimed at reducing biological issues, trends in the seafood industry and various other matters concerning Marine Harvest's business, strategy and results. These statements speak of Marine Harvest's plans, goals, targets, strategies, beliefs, and expectations, and refer to estimates or use similar terms. Actual results could differ materially from those indicated by these statements because the realization of those results is subject to many risks and uncertainties.

Our registration statement on Form 20-F filed with the US Securities and Exchange Commission in 2014 contain information about specific factors that could cause actual results to differ, and you are urged to read them. Marine Harvest disclaims any continuing accuracy of the information provided in this presentation after today.

Marine Harvest in brief

• One of the world's leading seafood companies

• 4 measured in turnover

• By far the world's largest producer of Atlantic salmon, 440,000 GWT 2015E
• Fully integrated value chain
• Headquartered in Bergen, Norway
• Listed on the Oslo Stock Exchange and the New York Stock Exchange
• Ticker code: MHG

Highlights Q4-2014

• Operational EBIT NOK 1,032m in a challenging quarter
• Weak prices in the Americas and biological issues in Europe
• Conditional agreement to merge MH Chile with AquaChile
• Feed self-sufficiency increases from 60% to 80% in Norway
• Quarterly dividend of NOK 1.20 per share

What, why and how?

• What?
• Responsible development of a future industry producing great food
• Why?
• -Make a difference, the world need healthy, energy efficient, and tasty food
• Make money
• Develop meaningful jobs for people, and contribute to development where we operate
• How?
• Build markets through better innovation and sales
• Predictable production solve biological issues
• Avoid disasters
• Engage with stakeholders

Can we produce food in the ocean?

70 % of the surface2% of the food production Energy efficient and low emission food production

«Leading the blue revolution»

needs new solutions

Farmed Atlantic salmon is a niche segment of the total aquaculture market

Sources: OECD-FAO Agricultural Outlook 2013 9 Kontali Analyse

SINTEF 2012 - Business possibilities in the biomarine sector for Norway towards 2050

The Future's So Bright, I Gotta Wear Shades

Farmed Atlantic salmon expected to continue to grow but at a lower rate vs last 10 years (1)

Note : (1) Marine Harvest does not provide guidance on industry supply beyond 2015 14

Sea lice

EPA/DHA

Access to suitable area for farming

Lack of predictable regulations

Sea lice medicine use (kg or t active substance) in Norway

Integrated management of lice

Marine Harvest towards 2020

• Global demand drivers are supportive
• Three pillars in Marine Harvest
• -Fish Feed
• Farming
• Value added
• Sea lice is a major threat to the sustainability of the industry in many regions
• Growth opportunities can be lost because we are not facing real problems with real action!
• ASC certification at all sites in 2020 will confirm success!