Mowi ASA — Earnings Release 2021

Jan 17, 2022

Mowi ASA (OSE:MOWI): Q4 2021 Trading update

Mowi ASA (OSE:MOWI): Q4 2021 Trading update

Mowi ASA (OSE:MOWI): Q4 2021 Trading update

Harvest volumes Q4 2021 (1)

Farming Norway 71.0 thousand tonnes

Farming Scotland 12.0 thousand tonnes

Farming Chile 16.5 thousand tonnes

Farming Canada 10.0 thousand tonnes

Farming Ireland 1.5 thousand tonnes

Farming Faroes 4.0 thousand tonnes

Total 115.0 thousand tonnes

In connection with the presentation of the Q3 2021 results, Mowi ASA guided a

total harvest volume of 104 thousand tonnes (GWE) for Q4 2021.

Harvest volumes FY 2021 (1)

Farming Norway 273.0 thousand tonnes

Farming Scotland 64.5 thousand tonnes

Farming Chile 66.0 thousand tonnes

Farming Canada 45.5 thousand tonnes

Farming Ireland 7.0 thousand tonnes

Farming Faroes 10.0 thousand tonnes

Total 466.0 thousand tonnes

Note:

(1) The harvest volumes are provided in gutted weight equivalents (GWE).

Additional information

Operational EBIT for the Group was approximately EUR 146 million in Q4 2021 (EUR

49 million in Q4 2020). Blended Farming cost per kg harvested was EUR 4.62 vs

EUR 4.59 in the third quarter. Operational EBIT was negatively impacted by EUR

8 million related to extraordinary mortalities in Canada East. This affected

total margin in the quarter by 0.07 EUR/kg.

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

follows:

Norway EUR 1.75

Scotland EUR 0.60

Chile EUR 0.65

Canada EUR 0.05 (Canada West: EUR 1.05)

Ireland EUR 0.95

Faroes EUR 1.40

Operational EBIT in Consumer Products was EUR 26 million (EUR 35 million in Q4

2020) and Feed EUR 8 million in Q4 2021 (EUR 14 million in Q4 2020).

Reported financial net interest-bearing debt (NIBD) was approximately EUR 1 260

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

The complete Q4 2021 report will be released on 16 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.