Mowi ASA

Earnings Release • May 9, 2018

Good result on strong demand for Marine Harvest

Good result on strong demand for Marine Harvest

(Oslo, 9 May 2018) Marine Harvest achieved an operational EBIT of EUR 158

million in the first quarter of 2018.

Supported by the good results, a strong market outlook, and a solid financial

position, the Board has resolved a quarterly dividend of NOK 2.60 per share.

- The demand for salmon has increased globally this year, compared to the end of

2017. This has led to high prices and a good result for Marine Harvest in the

first quarter, says CEO Alf-Helge Aarskog.

Marine Harvest reported operational revenues of EUR 862 million (EUR 892

million) in the first quarter of 2018. Total harvest volume was 81 212 tonnes in

the quarter (83 768 tonnes). Estimated harvest volume for the full year of 2018

have been reduced from 410 000 tonnes to 400 000 tonnes due to less growth in

sea.

Salmon of Norwegian origin achieved an operational EBIT per kilo of EUR 2.26

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

reported operational EBIT per kilo of EUR 1.85 and EUR 1.10 respectively (EUR

3.12 and EUR 3.42). Salmon of Chilean origin reported operational EBIT per kilo

of EUR 1.36 in the quarter (EUR 1.87). MH Consumer Products reported an

operational EBIT of EUR 20.9 million (EUR 12.9 million).  MH Feed reported an

operational EBIT of EUR -4.3 million (EUR 0.1 million).

- I am encouraged by Marine Harvest Consumer Products and its seasonally record

high results. It is also very satisfactory that our organic farming operations

in Marine Harvest Ireland have achieved record high first quarter results on

strong demand and reduced costs, says Aarskog.

For further information, please contact:

Ivan Vindheim, CFO, +47 958 71 310

Kim Galtung Døsvig, IR Officer & Head of Treasury, +47 908 76 339

About Marine Harvest Group

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

of farmed salmon, with presence in 25 countries and a total of 13 233 employees

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

Oslo Stock Exchange.

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 Annual Report contains 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 to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.