Mowi ASA

Mowi ASA (OSE:MOWI): Q1 2021 Trading update

Harvest volumes Q1 2021 (1)

Farming Norway 75.0 thousand tonnes

Farming Scotland 18.5 thousand tonnes

Farming Canada 10.5 thousand tonnes

Farming Chile 19.5 thousand tonnes

Farming Ireland 1.0 thousand tonnes

Farming Faroes 1.0 thousand tonnes

Total 125.5 thousand tonnes

In connection with the presentation of the Q4 2020 results, Mowi ASA guided a

total harvest volume of 116 thousand tonnes (GWE) for Q1 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 109 million in Q1 2021 (EUR

109 million in Q1 2020). Blended Farming cost per kg harvested was EUR 4.20.

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

follows:

Norway EUR 1.00

Scotland EUR 1.45

Canada EUR -0.35

Chile EUR 0.40

Ireland EUR 4.55

Faroes EUR 0.50

Operational EBIT in Consumer Products was EUR 32 million and Feed EUR -3 million

in Q1 2021.

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 275

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

The complete Q1 2021 report will be released on 19 May 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.

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