Mowi ASA — Earnings Release 2020

Jul 15, 2020

Mowi ASA (OSE:MOWI): Q2 2020 Trading update

Mowi ASA (OSE:MOWI): Q2 2020 Trading update

Harvest volumes Q2 2020 (1)

Farming Norway 56.5 thousand tonnes

Farming Scotland 14.5 thousand tonnes

Farming Canada 11.5 thousand tonnes

Farming Chile 14.0 thousand tonnes

Farming Ireland 4.0 thousand tonnes

Farming Faroes 3.5 thousand tonnes

Total 104.0 thousand tonnes

In connection with the presentation of the Q1 2020 results, Mowi ASA guided a

total harvest volume of 102.5 thousand tonnes (GWE) for Q2 2020.

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 96 million in Q2 2020 (EUR

211 million in Q2 2019).

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

follows:

Norway EUR   1.05

Scotland EUR   1.00

Canada EUR   -0.65

Chile EUR   0.80

Ireland EUR   3.85

Faroes EUR   1.90

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 380

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

The complete Q2 2020 report will be released on 26 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.