Mowi ASA

Mowi Announces Strategic Review of Feed Division

(Bergen, 4 March 2025) Mowi has today announced that it is initiating a

strategic review of its integrated Feed division. The review will assess all

available options, including a sale.

In 2024, the Feed division generated operating revenues of EUR 1,122 million and

Operational EBITDA of EUR 62 million. Its core assets include feed mills in

Norway and Scotland with production capacity of 460,000 tonnes(()(1)) and

240,000 tonnes respectively, i.e. combined capacity of 700,000 tonnes. These

plants supplied practically all of the feed requirements of Mowi's European

salmon farming operations last year. In total, Mowi's Feed division employs 140

FTEs.

"In just a few years Mowi has grown from a 400,000 tonnes farmer to approaching

a 600,000 tonne farmer with production in seven countries and 11 farming regions

with all the complexity that entails. Mowi also has an extensive downstream

business in 26 countries. In order to streamline our operations, we therefore

feel the time is ripe to assess how our Feed division will be organised in the

future," said Ivan Vindheim, Mowi CEO.

Mowi has engaged Arctic Securities to assist with the review. While the company

will now initiate a structured process, there is no certainty as to whether any

transaction will arise, nor as to the terms thereof.

Mowi will provide further updates as appropriate but does not intend to comment

further on the process unless and until a definitive agreement is reached or the

process is terminated.

(1) Including an ongoing 60,000 tonnes capacity expansion expected to be fully

operational by Q2 2026

About Mowi ASA

Mowi is one of the world's leading seafood companies and the largest producer of

farm-raised Atlantic salmon in the world with production in seven farming

countries including Norway, Scotland, Ireland, Faroes, Iceland, Canada and

Chile.

Mowi is a fully integrated global seafood company, bringing salmon and other

seafood of supreme quality to consumers around the world, partly under its own

MOWI brand. Mowi is ranked as the most sustainable listed animal protein

producer in the world by Coller FAIRR.

With headquarters in Bergen, Norway, Mowi employs 11 800 people in 26 countries

worldwide, and is listed on the Oslo Stock Exchange. Turnover was EUR 5.6

billion in 2024.

For more information, please visit mowi.com.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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