Mowi ASA

MOWI: Ole-Eirik Lerøy to step down as Chairman

(Bergen, 24 October 2024) Mowi ASA today announces that Ole-Eirik Lerøy has

decided to step down as Chairman of the Board following a fifteen-year tenure

with the company. Ørjan Svanevik proposed as successor to Lerøy.

"It has been an honor to serve Mowi during the era of becoming the world's

largest supplier of farm raised salmon. Today, Mowi is a fully integrated global

seafood company, bringing salmon of supreme quality to consumers around the

world, and is perfectly positioned to continue the growth journey towards the

newly announced 2029 ambitions. The company is stronger than ever, the outlook

sound, and the timing right, to pass the relay baton. I look forward to seeing

it grow and develop in the future," says Ole-Eirik Lerøy.

Mr. Lerøy joined the company in 2009/2010, where the company since has developed

into a world leading seafood company with farming operations in Norway,

Scotland, Ireland, Faroes, Iceland, Canada and Chile. With headquarters in

Bergen, Norway, Mowi today employs 11 500 people in 26 countries worldwide.

"Ole-Eirik is a true industry veteran and has been instrumental into developing

the strong Mowi organisation. We highly appreciate his contributions over the

past 15 years, which will serve as a strong platform for the future value

creation," says John Fredriksen, representative of Mowi's largest shareholder.

The nomination committee would like to thank Ole-Eirik Lerøy for his long-

standing service as Chairman of Mowi. The nomination committee will propose that

the Extraordinary General Meeting (EGM) elects Ørjan Svanevik as Chairman of the

Board. The company will convene an EGM shortly.

Mr. Svanevik holds the position as investment director of Seatankers. He has

broad operational experience, including serving as CEO of Arendals Fossekompani,

Head of M&A at Aker and Chief Operating Officer of Kværner, in addition to

holding chair- and board positions in listed companies including Mowi, Volue,

Seadrill and Archer. Today, Mr. Svanevik is a board member of, among others,

Axactor, Western Bulk and Paratus Energy. He holds an MSc in Economics and

Business Administration (Siviløkonom) from the Norwegian Business School (BI),

an MBA from Thunderbird and an AMP from Harvard.

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 2024 of

500,000 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. With headquarters in Bergen,

Norway, Mowi employs 11 500 people in 26 countries worldwide, and is listed on

the Oslo Stock Exchange. Turnover was EUR 5.5 billion in 2023.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

AI Terminal