Mowi ASA — Earnings Release 2021

Oct 18, 2021

Mowi ASA (OSE:MOWI): Q3 2021 Trading update

Mowi ASA (OSE:MOWI): Q3 2021 Trading update

Mowi ASA (OSE:MOWI): Q3 2021 Trading update

Harvest volumes Q3 2021 (1)

Farming Norway 71.0 thousand tonnes

Farming Scotland 15.0 thousand tonnes

Farming Chile 15.0 thousand tonnes

Farming Canada 11.0 thousand tonnes

Farming Ireland 2.0 thousand tonnes

Farming Faroes 3.0 thousand tonnes

Total 117.0 thousand tonnes

In connection with the presentation of the Q2 2021 results, Mowi ASA guided a

total harvest volume of 110 thousand tonnes (GWE) for Q3 2021.

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 131 million in Q3 2021 (EUR

80 million in Q3 2020). Operational EBIT was negatively impacted by EUR 11

million related to extraordinary mortalities in Farming Canada, of which EUR 6

million was caused by a plankton bloom incident in Canada West and EUR 5 million

in connection with a low oxygen incident in Canada East. Blended Farming cost

per kg harvested was EUR 4.59. Extraordinary mortalities in Farming Canada

affected total margin in the quarter by EUR 0.09/kg.

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

follows:

Norway EUR 1.40

Scotland EUR 0.90

Chile EUR 0.90

Canada EUR 0.00

Ireland EUR 1.85

Faroes EUR 0.85

Operational EBIT in Consumer Products was EUR 22 million (EUR 21 million in Q3

2020) and Feed EUR 10 million in Q3 2021 (EUR 12 million in Q3 2020).

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 150

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

The complete Q3 2021 report will be released on 10 November 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.