Mowi ASA

Earnings Release • Oct 14, 2014

MHG - STRONG EARNINGS IN A CHALLENGING QUARTER

MHG - STRONG EARNINGS IN A CHALLENGING QUARTER

Harvest volumes Q3 2014 (1)

Farming Norway 64 thousand tonnes

Farming Scotland        14 thousand tonnes

Farming Canada 7 thousand tonnes

Farming Chile 17 thousand tonnes

Other 5 thousand tonnes

Total 107 thousand tonnes

In connection with the presentation of the Q2 2014 results, Marine Harvest

guided a total harvest volume of 106 thousand tonnes (HOG) for Q3 2014.

Notes:

(1) The harvest volumes are provided in head on gutted (HOG) equivalents. The

figures include salmonid species only.

Additional information

Operational EBIT for the Group was approximately NOK  870 million in Q3 2014

(NOK 793 million in Q3 2013).

Total operational EBIT per kg through the value chain were approximately as

follows for the main sources of origin:

* Norway            NOK 9.6

* Scotland         NOK 9.8

* Canada           NOK 4.6

* Chile               NOK 6.0

Exceptional mortality in the quarter impacted operational EBIT adversely by

about NOK 60 million in the quarter.

MH Feed generated an operational EBIT of about NOK 20 million at a production

volume of about 56 thousand tonnes in the quarter. As the feed production is

applied for internal purposes only, accounting practices prevent a realisation

of the segments profits in the Group accounts prior to harvesting of the fish

having consumed the feed.

Reported net interest bearing debt (NIBD) was approximately NOK 7,230 million by

the end of the quarter.

The full Q3 2014 report will be released on 22 October at 0700 CET.

This press release may be deemed to include forward-looking statements, such as

statements that relate to salmonid production volume.  Actual events could

differ materially from those indicated by these statements because the

realization of those events is subject to many risks and uncertainties. Factors

that could affect actual events include: risks associated with fluctuations in

salmon prices, risks associated with the supply and demand of salmon, including

global economy, salmon prices and consumer preferences and operational risks, in

particular those relating to our cost in Norway. All forward-looking statements

included in this news release are based on information available at the time of

the release, and Marine Harvest assumes no obligation to update any forward-

looking statement.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1862697]