Mowi ASA

Earnings Release • Feb 4, 2015

Strong performance in fourth quarter for Marine Harvest

Strong performance in fourth quarter for Marine Harvest

(Oslo, 04 February 2015) Marine Harvest achieved an operational EBIT of NOK

1 032 million in the fourth quarter of 2014, compared to NOK 1 037 million in

the corresponding quarter of 2013.

- Marine Harvest delivered a strong operational EBIT in the fourth quarter of

2014. As a consequence of the good result, the Board has resolved a quarterly

dividend of NOK 1.20 per share, says CEO Alf-Helge Aarskog.

Marine Harvest Group reported operational revenues of NOK 6 863 million (NOK

6 743 million) in the fourth quarter of 2014, which is record high. Total

harvest volumes were 105 122 tonnes in the quarter (103 378 tonnes). Harvest

guidance for 2015 is 440 000 tonnes.

- We have increased our feed self-sufficiency in Norway from 60% to 80 %.

Through the gradual in-sourcing of feed, we expect lower feed costs as well as

improved growth, better feed conversion ratio and improved quality of the end

product, says CEO Alf-Helge Aarskog.

Salmon of Norwegian origin achieved an operational EBIT per kilo of NOK 12.59

(NOK 12.04) in the fourth quarter, while salmon of Scottish and Canadian origin

reported operational EBIT per kilo of NOK -3.42 and NOK 3.69  respectively (NOK

10.25 and NOK 10.20). Salmon of Chilean origin achieved an operational EBIT per

kilo of NOK 0.35 (NOK 2.48). The figures include contribution from Sales and

Marketing, including VAP Europe and Morpol Processing. Marine Harvest VAP Europe

reported an operational EBIT of NOK 36 million compared to NOK -37 million in

the fourth quarter of 2013. Morpol Processing reported an operational EBIT of

NOK 81 million (NOK 63 million).

- I'm excited about the contemplated merger with AquaChile. Our already strong

position within salmon farming in Chile will be further strengthened, and the

combined entity will benefit the entire Chilean industry from a sustainability

point of view, says Aarskog.

For further information, please contact:

Ivan Vindheim, CFO, Mobile: +47 958 71 310

Henrik Heiberg, VP Finance & Treasury, Mobile: +47 917 47 724

Kim Galtung Døsvig, IR Officer, Mobile: +47 908 76 339

About Marine Harvest Group

Marine Harvest Group is the world's leading seafood company and largest producer

of farmed salmon, with presence in 24 countries and a total of 11 700 employees

worldwide. The company is headquartered in Bergen, Norway, and is listed on the

Oslo Stock Exchange and New York Stock Exchange (NYSE). Please see

www.marineharvest.com for further information.

Forward looking statements

This release may be deemed to include forward-looking statements, such as

statements that relate to Marine Harvest's goals and strategies, salmon prices,

ability to increase or vary harvest volume, production capacity, trends in the

seafood industry, restructuring initiatives, exchange rate and interest rate

fluctuations, expected research and development expenditures, business prospects

and positioning with respect to market, demographic and pricing trends,

strategic initiatives, and the effects of any extraordinary events and various

other matters (including developments with respect to laws, regulations and

governmental policies regulating the industry and changes in accounting

policies, standards and interpretations) on Marine Harvest's business and

results. Forward-looking statements are typically identified by words or

phrases, such as "believe," "expect," "anticipate," "intend," "estimate," "may

increase," "may fluctuate," "plan," "goal," "target," "strategy," 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. Marine

Harvest ASA's registration statement on Form 20-F filed in 2014, including the

section captioned "Risk Factors," contain additional information about factors

that could affect actual results, including: changes to the price of salmon

including the value of our biological assets; hedging risks; risks related to

fish feed; economic and market risks; environmental risks; operational risks;

risks related to escapes, disease and sea lice; product risks; risks related to

our acquisitions; financing risks; regulation risks including relating to food

safety, the aquaculture industry, processing, competition and anti-corruption;

trade restriction risks; litigation risks; tax and accounting risks; strategic

and competitive risks; and reputation risks. 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.

[HUG#1891569]