Mowi ASA

Capital/Financing Update • May 3, 2017

Marine Harvest ASA (OSE:MHG): EUR 375 million Convertible Bond Agreement 2014/2019 ISIN NO 001 0710395 - Notification of Call Option

Marine Harvest ASA (OSE:MHG): EUR 375 million Convertible Bond Agreement 2014/2019 ISIN NO 001 0710395 - Notification of Call Option

The loan agreement for the EUR 375 million five year convertible bond issued by

Marine Harvest in 2014, maturing on 6 May 2019 (ISIN NO 001 0710395) provides

Marine Harvest with the right to redeem the remaining outstanding bonds at par

value plus accrued interest under certain conditions.

Marine Harvest has notified the trustee for the convertible bond, Nordic Trustee

ASA, that clause 10.2 in the loan agreement has been fulfilled as the Marine

Harvest share price for at least twenty days out of a period of thirty

consecutive trading days has exceeded 130 per cent of the current conversion

price of the bonds, and that Marine Harvest is exercising its right to redeem

the bond at par value plus accrued interest.

The loan agreement provides the bondholders the period up to and including 11

May 2017 to convert their bonds into shares. The remaining outstanding loan

amount is EUR 353.9 million and the current conversion price is EUR 9.3458 per

share. If bondholders decide to convert all remaining bonds into shares, Marine

Harvest will issue about 37.9 million new shares. Bonds that are not converted

into shares will be redeemed at par value plus accrued interest on 6 June 2017.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.