Mowi ASA

Earnings Release • Oct 15, 2019

Mowi ASA (OSE:MOWI): Q3 2019 Trading update

Mowi ASA (OSE:MOWI): Q3 2019 Trading update

Harvest volumes Q3 2019 (1)

Farming Norway 63.5 thousand tonnes

Farming Scotland 19.5 thousand tonnes

Farming Canada 16.0 thousand tonnes

Farming Chile 14.0 thousand tonnes

Farming Ireland 2.0 thousand tonnes

Farming Faroes 2.0 thousand tonnes

Total 117.0 thousand tonnes

In connection with the presentation of the Q2 2019 results, Mowi ASA guided a

total harvest volume of 113 thousand tonnes (GWE) for Q3 2019.

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 146 million in Q3 2019 (EUR

207 million in Q3 2018). Net negative one-offs in Mowi Canada have impacted

Operational EBIT by approximately EUR 5 million in Q3 2019, ref stock exchange

notice of 13 October.

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

follows:

Norway EUR   1.65

Scotland EUR   1.35

Canada EUR   0.00

Chile EUR   1.30

Ireland EUR   1.10

Faroes EUR   1.40

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 230

million at the end of the quarter (excluding IFRS 16 effects).

The complete Q3 2019 report will be released on 30 October 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.