Mowi ASA

Related Party Transaction • Nov 11, 2018

Marine Harvest ASA - Mandatory notification of trade

Marine Harvest ASA - Mandatory notification of trade

Framar AS (Framar), a company controlled by Marine Harvest ASA's (Marine

Harvest) Chairman Ole-Eirik Lerøy, and Sterna Finance Ltd (Sterna), a company

indirectly controlled by trusts established by John Fredriksen for the benefit

of his immediate family, have on 11 November 2018 entered into a commercial two-

and-a-half-year marine sector consultancy agreement.

In connection with the consultancy agreement, Sterna and Framar have entered

into a separate dividend adjusted option agreement whereby Sterna has granted

Framar an option to acquire 750,000 shares in Marine Harvest. The premium paid

by Framar for the option is NOK 3,750,000. The option may be exercised by Framar

once, and only for the full number of shares, between 11 May 2019 and 11 May

2021. The strike price is set at NOK 229.90 per share, reflecting the closing

price of the Marine Harvest share on 9 November 2018 plus a 5 % annual interest

component till maturity. In case of early exercise, the interest component of

the strike price will be reduced correspondingly.

If the option is exercised, Sterna will acquire a corresponding number of shares

from Geveran Trading Co Limited (Geveran), a company indirectly controlled by

trusts established by John Fredriksen for the benefit of his immediate family,

in order to settle the option, in which case Geveran's holding of shares in

Marine Harvest will be reduced to 77,801,603 shares (based on today's

shareholding), representing 15.57 % of the share capital and voting rights in

the company.

If the option is exercised by Framar, Ole-Eirik Lerøy and his affiliates will

own 2,250,332 shares in Marine Harvest, corresponding to 0.45 % of the share

capital and voting rights in the company.

This information is subject to disclosure requirements according to section 4-2

of the Norwegian Securities Trading Act.