Mowi ASA — Earnings Release 2018

Jul 16, 2018

Marine Harvest ASA (OSE:MHG): Q2 2018 Trading update

Marine Harvest ASA (OSE:MHG): Q2 2018 Trading update

Harvest volumes Q2 2018 (1)

Farming Norway 49.5 thousand tonnes

Farming Scotland 9.0 thousand tonnes

Farming Canada 8.0 thousand tonnes

Farming Chile 10.0 thousand tonnes

Farming Ireland 1.0 thousand tonnes

Farming Faroes 1.0 thousand tonnes

Total 78.5 thousand tonnes

In connection with the presentation of the Q1 2018 results, Marine Harvest

guided a total harvest volume of 82 thousand tonnes (GWE) for Q2 2018.

Note:

(1) The harvest volumes are provided in gutted weight equivalents (GWE). The

figures include salmonid species only.

Additional information

Operational EBIT for the Group was approximately EUR 175 million in Q2 2018 (EUR

198 million in Q2 2017).

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

follows:

Norway EUR   2.55

Scotland EUR   2.35

Canada EUR   1.00

Chile EUR   1.85

Ireland EUR   2.20

Faroes EUR   2.90

Reported net interest bearing debt (NIBD) was approximately EUR 955 million at

the end of the quarter.

Northern Harvest is consolidated in the group's financial statements with effect

from 3 July. Thus, the above figures do not include Northern Harvest.

The complete Q2 2018 report will be released on 22 August at 06:30 CET.

Please refer to the Annual Report for detailed descriptions and reconciliations

of non-IFRS measures such as operational EBIT and NIBD.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.