Mowi ASA

Mowi ASA (OSE:MOWI): Q4 2024 Trading update

Harvest volumes Q4 2024 (1)

Farming Norway 83.5 thousand tonnes (FY: 304 thousand tonnes)

Farming Scotland 17.0 thousand tonnes (FY: 66 thousand tonnes)

Farming Chile 22.5 thousand tonnes (FY: 73 thousand tonnes)

Farming Canada 5.0 thousand tonnes (FY: 30 thousand tonnes)

Farming Ireland 1.0 thousand tonnes (FY: 9 thousand tonnes)

Farming Faroes 1.0 thousand tonnes (FY: 9 thousand tonnes)

Farming Iceland (Arctic (FY: 11 thousand tonnes)

Fish) 3.5 thousand tonnes

Total 133.5 thousand tonnes (FY: 502 thousand tonnes)

Full year harvest volumes were record-high 502 thousand tonnes in 2024 versus

475 thousand tonnes in 2023, equivalent to a growth of 5.7%

In connection with the presentation of the Q3 2024 results, Mowi guided a total

harvest volume of 132.1k GWT for Q4 2024.

Note:

(1) The harvest volumes are provided in gutted weight equivalents (GWT).

Additional information

Operational EBIT for the Group was approx. EUR 226 million in Q4 2024 (NOK

2,657 million / EURNOK 11.76) versus EUR 203 million in Q4 2023 (NOK 2,367

million / EURNOK 11.65). Blended farming cost was EUR 5.69 per kg in the quarter

which was slightly lower than in Q3, and in line with guidance.

Total Q4 Operational EBIT per kg through the value chain was approximately as

follows:

Norway EUR 2.20

Scotland EUR 1.40

Chile EUR 0.85

Canada EUR 0.45

Ireland EUR (2.15)

Faroes EUR 1.05

Iceland EUR 0.75

Operational EBIT in Consumer Products was EUR 53 million. Operational EBITDA in

Feed was EUR 21 million in Q4 2024. Reported financial net interest-bearing debt

(NIBD) for the group was approximately EUR 1 865 million at the end of the

quarter (excluding IFRS 16 effects). The complete Q4 2024 report will be

released on 12 February at 06:30 CET.

Please refer to the Annual Report for detailed descriptions and reconciliations

of non-IFRS measures such as Operational EBIT and NIBD.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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