Mowi ASA

Mowi ASA (OSE:MOWI): Q4 2020 Trading update

Harvest volumes Q4 2020 (1)

Farming Norway 78.5 thousand tonnes

Farming Scotland 13.0 thousand tonnes

Farming Canada 12.5 thousand tonnes

Farming Chile 20.5 thousand tonnes

Farming Ireland 1.0 thousand tonnes

Farming Faroes 1.5 thousand tonnes

Total 127.0 thousand tonnes

In connection with the presentation of the Q3 2020 results, Mowi ASA guided a

total harvest volume of 128.9 thousand tonnes (GWE) for Q4 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 49 million in Q4 2020 (EUR

166 million in Q4 2019). Blended Farming cost per kg harvested was EUR 4.28, a

reduction from EUR 4.40 in Q4 2019. Blended Farming cost for the third quarter

2020 was EUR 4.23 per kg.

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

follows:

Norway EUR 0.75

Scotland EUR 1.55

Canada EUR -1.10

Chile EUR -0.50

Ireland EUR 2.60

Faroes EUR -0.75

Operational EBIT in Consumer Products was EUR 35 million and Feed EUR 14 million

in Q4 2020.

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 460

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

The complete Q4 2020 report will be released on 17 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.

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