Mowi ASA

Report Publication Announcement • Jan 21, 2016

Marine Harvest ASA (OSE:MHG, NYSE:MHG): Q4 2015 Trading update

Marine Harvest ASA (OSE:MHG, NYSE:MHG): Q4 2015 Trading update

Harvest volumes Q4 2015 ((1))

Farming Norway 67 thousand tonnes

Farming Scotland  14 thousand tonnes

Farming Canada 9 thousand tonnes

Farming Chile 15 thousand tonnes

Other 6 thousand tonnes

Total 111 thousand tonnes

In connection with the presentation of the Q3 2015 results, Marine Harvest

guided a total harvest volume of 115 thousand tonnes (GWE) for Q4 2015.

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 NOK 850 million in Q4 2015 (NOK

1,032 million in Q4 2014). Start-up costs at the Rosyth processing plant in

Scotland have been higher than previously expected and have as such impacted

results negatively by approximately NOK 70 million in Q4 2015. This effect is

included in the figures below for Scotland.

Total operational EBIT per kg through the value chain were approximately as

follows for the main sources of origin:

* Norway NOK 12.1

* Scotland  NOK  -0.9

* Canada NOK 3.3

* Chile NOK -12.3

Reported net interest bearing debt (NIBD) was approximately NOK 9.6 billion at

the end of the quarter.

A separate press release will be disclosed later today regarding a restructuring

plan of Marine Harvest Scotland Farming. Following a recent review of the

business up to 100 jobs will be reduced to make the business more efficient and

sustainable. Harvesting volumes for 2016 will not be impacted by the

restructuring plan.

The complete Q4 2015 report will be released on 17 February at 06:30 CET.

This press release may be deemed to include forward-looking statements, such as

statements that relate to salmonid production volume.  Actual events could

differ materially from those indicated by these statements because the

realization of those events is subject to many risks and uncertainties. Factors

that could affect actual events include risks associated with fluctuations in

salmon prices, risks associated with the supply and demand of salmon, including

global economy, salmon prices and consumer preferences and operational risks, in

particular those relating to our cost in Norway. All forward-looking statements

included in this news release are based on information available at the time of

the release, and Marine Harvest assumes no obligation to update any forward-

looking statement.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1980312]