Mowi ASA

Earnings Release • Apr 30, 2014

Strong quarter for Marine Harvest

Strong quarter for Marine Harvest

(Oslo, 30 April 2014) The Marine Harvest Group achieved an operational EBIT of

NOK 1 090 million in the first quarter of 2014, compared to NOK 482 million in

the corresponding quarter of 2013.

- The first quarter of 2014 was a strong quarter for Marine Harvest. We see both

record high prices and profit. As a consequence of the good results, the board

has proposed a quarterly dividend of NOK 5 per share. The results are negatively

impacted by high contract share in the quarter. Further, we still see a

potential for even stronger results by improving the production costs in many

areas of our operation, says CEO Alf-Helge Aarskog.

Marine Harvest Group reported operational revenues and other income of NOK

5 868 million (NOK 3 736 million) in the first quarter of 2014.

Salmon of Norwegian origin achieved an operational EBIT per kilo of NOK 12.82

(NOK 8.39) in the first quarter, while salmon of Scottish and Canadian origin

reported operational EBIT per kilo of NOK 12.66  and NOK 19.10 respectively (NOK

7.87 and NOK 6.63). Salmon of Chilean origin achieved an operational EBIT per

kilo of NOK 6.73 (NOK -6.27). The figures include contribution from Sales and

Marketing, including VAP Europe and Morpol Processing. Marine Harvest VAP Europe

reported an operational EBIT of NOK -25 million compared to NOK - 18 million in

the first quarter of 2013. Morpol Processing reported an operational EBIT of NOK

-38 million.

Marine Harvest Group harvested a volume of 92 243 tonnes gutted weight in the

first quarter, compared to 80 035 tonnes in the corresponding quarter of 2013.

Harvest guidance for 2014 is increased from 405 000 tonnes to 417 000 tonnes.

-The demand in the first quarter was very high, and we expect this to continue.

We are encouraged by the high future prices, given the relatively high supply

growth for the remainder of the year. I'm convinced that the combination of

strong operational performance and high financial flexibility put us in a great

position for further development, says Aarskog.

For further information, please contact:

Ivan Vindheim, CFO, Mobile: +47 958 71 310

Henrik Heiberg, VP Finance & Treasury, Tel: +47 21 56 20 11, Mobile:

+47 917 47 724

About Marine Harvest Group

Marine Harvest Group is the world's leading seafood company and largest producer

of farmed salmon, with presence in 22 countries and a total of 10 400 employees

worldwide. The company is headquartered in Bergen, Norway, and is listed on the

Oslo Stock Exchange and New York Stock Exchange (NYSE). Please see

www.marineharvest.com for further information.

Forward looking statements

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

statements that relate to Marine Harvest's goals and strategies, salmon prices,

ability to increase or vary harvest volume, production capacity, trends in the

seafood industry, restructuring initiatives, exchange rate and interest rate

fluctuations, expected research and development expenditures, business prospects

and positioning with respect to market, demographic and pricing trends,

strategic initiatives, and the effects of any extraordinary events and various

other matters (including developments with respect to laws, regulations and

governmental policies regulating the industry and changes in accounting

policies, standards and interpretations) on Marine Harvest's business and

results. Forward-looking statements are typically identified by words or

phrases, such as "believe," "expect," "anticipate," "intend," "estimate," "may

increase," "may fluctuate," "plan," "goal," "target," "strategy," and similar

expressions or future or conditional verbs such as "may," "will," "should,"

"would," and "could." Forward-looking statements are Marine Harvest's current

estimates or expectations of future events or future results. Actual results

could differ materially from those indicated by these statements because the

realization of those results is subject to many risks and uncertainties. Marine

Harvest ASA's registration statement on Form 20-F filed in 2014, including the

section captioned "Risk Factors," contain additional information about factors

that could affect actual results, including: changes to the price of salmon

including the value of our biological assets; hedging risks; risks related to

fish feed; economic and market risks; environmental risks; operational risks;

risks related to escapes, disease and sea lice; product risks; risks related to

our acquisitions; financing risks; regulation risks including relating to food

safety, the aquaculture industry, processing, competition and anti-corruption;

trade restriction risks; litigation risks; tax and accounting risks; strategic

and competitive risks; and reputation risks. All forward-looking statements

included in this 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#1781256]