Mowi ASA

M&A Activity • Oct 21, 2025

Mowi's acquisition of Nova Sea approved

Mowi's acquisition of Nova Sea approved

(Bergen, 21 October 2025) Mowi's acquisition of a controlling stake in Nova Sea

AS has received final approval.

Reference is made to the stock exchange notice of 30(th) January 2025 regarding

Mowi's agreement to increase its ownership share of Nova Sea AS from 49% to

95%. Following approval of the transaction by the EU Commission last week, Mowi

has today been informed that the Norwegian competition authority has also

approved the transaction. This means that all formal approvals are now in place

and the transaction can be completed.

With Nova Sea, Mowi now expects to harvest 597,000 tonnes in 2025. Of that,

372,000 tonnes will be in Norway, including 161,000 tonnes in Northern Norway,

one of the world's best regions for farming Atlantic salmon.

In just a few years, Mowi has gone from producing 400,000 tonnes globally to

producing nearly 600,000 tonnes. This corresponds to annual growth of 6.9%,

compared with the industry average of 3.6% in the same period.

"The Nova Sea acquisition is a strategically important transaction for Mowi and

will be a catalyst for sustainable growth in Northern Norway. We will grow

further through the value chain and invest more in the region in the future,

creating more jobs and stimulating more activity in coastal areas," said Mowi

CEO Ivan Vindheim.

Vindheim believes that Mowi and Nova Sea are an excellent operational fit for

each other and expects the transaction to result in significant synergies,

preliminarily estimated at NOK 400 million (EUR 34 million) annually. These

include better MAB utilisation and an improved license and site portfolio in the

company's northernmost region.

"This transaction will strengthen our presence in what is probably the world's

best region for farming Atlantic salmon, as well as bringing about improved

biological results and biosecurity in the region," says Vindheim.

For further information, please contact:

Kristian Ellingsen, CFO, +47 905 14 275

Kim Galtung Døsvig, IR Officer & Head of Treasury, +47 908 76?339

Ola Helge Hjetland, Group Communications Director, +47 970 67 932

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 an estimated harvest for 2025 of

597 000 tonnes from 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. For six successive years Mowi has been 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 www.mowi.com (http://www.mowi.com).

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.