Mowi ASA — Earnings Release 2019

Jan 16, 2020

Mowi ASA (OSE:MOWI): Q4 2019 Trading update

Mowi ASA (OSE:MOWI): Q4 2019 Trading update

Harvest volumes Q4 2019 (1)

Farming Norway 66.0 thousand tonnes

Farming Scotland 14.0 thousand tonnes

Farming Canada 16.0 thousand tonnes

Farming Chile 16.5 thousand tonnes

Farming Ireland 1.0 thousand tonnes

Farming Faroes 2.5 thousand tonnes

Total 116.0 thousand tonnes

In connection with the presentation of the Q3 2019 results, Mowi ASA guided a

total harvest volume of 110 thousand tonnes (GWE) for Q4 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 165 million in Q4 2019 (EUR

213 million in Q4 2018).

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

follows:

Norway EUR   2.10

Scotland EUR   1.30

Canada EUR   -0.55

Chile EUR   0.80

Ireland EUR   3.30

Faroes EUR   1.65

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 340

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

The complete Q4 2019 report will be released on 12 February 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.