Mowi ASA

Transaction in Own Shares • Mar 22, 2017

Marine Harvest ASA (OSE: MHG): Exercise of senior executive share options/purchase of own shares

Marine Harvest ASA (OSE: MHG): Exercise of senior executive share options/purchase of own shares

Number of options exercised

The Board of Directors of Marine Harvest awarded 1.2 million options under its

senior executive share option scheme with effect from 2013 to the current

participants in the option scheme. The option scheme form an important part of

Marine Harvest's long term remuneration policy for such senior executives. The

number of options shall be reduced if the profit through exercise of options in

a year exceeds two times the fixed annual salary of the option holder.

Accordingly, the number of options has been reduced to 697,348 options to comply

with this provision.

On 21 March 2017, participants in Marine Harvest's senior executive share option

scheme exercised 697,348 options in Marine Harvest, corresponding to 697,348

shares at a strike price of NOK 42.63 per share.

On the same date Marine Harvest purchased 697,348 own shares at a price of NOK

141.10 per share to settle its obligation to deliver the shares. The shares were

purchased in accordance with the authorisation granted at the annual general

meeting on 9 June 2016. Following these transactions Marine Harvest still holds

zero treasury shares.

Options exercised by primary insiders

Alf-Helge Aarskog exercised 118,510 options in Marine Harvest, corresponding to

118,510 shares at a strike price of NOK 42.63 per share.

Ivan Vindheim exercised 67,234 options in Marine Harvest, corresponding to

67,234 shares at a strike price of NOK 42.63 per share.

Marit Solberg exercised 58,216 options in Marine Harvest, corresponding to

58,216 shares at a strike price of NOK 42.63 per share.

Per-Roar Gjerde exercised 52,196 options in Marine Harvest, corresponding to

52,196 shares at a strike price of NOK 42.63 per share.

Ola Brattvoll exercised 49,375 options in Marine Harvest, corresponding to

49,375 shares at a strike price of NOK 42.63 per share.

Ben Hadfield exercised 50,528 options in Marine Harvest, corresponding to

50,528 shares at a strike price of NOK 42.63 per share.

Øyvind Oaland exercised 37,927 options in Marine Harvest, corresponding to

37,927 shares at a strike price of NOK 42.63 per share.

Anne Lorgen Riise exercised 29,410 options in Marine Harvest, corresponding to

29,410 shares at a strike price of NOK 42.63 per share.

Transfer of rights

On 21 March 2017 the primary insiders listed above transferred their rights to

receive shares resulting from the exercise of their options to a third party

against a consideration to be determined on the basis of the price subsequently

obtained by the third party when selling the shares. The price subsequently

obtained was NOK 141.10 per share.

New holding

After exercising the options the primary insiders listed above hold the

following number of shares and unexercised options in Marine Harvest:

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Name Title Shares   Total unexercised

options

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Alf-Helge Aarskog CEO 38 670   1 642 896

Ivan Vindheim CFO 760   334 948

Marit Solberg COO Farming 12 913   334 948

Per-Roar Gjerde COO Farming 423   165 841

Ola Brattvoll COO Sales & Marketing 9 331   334 948

Ben Hadfield COO Feed and MD Scotland 6 970   334 948

Øyvind Oaland Global R&D Director 4 488   0

Anne Lorgen Riise Global HR Director 458   0

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This information is subject to the disclosure requirements pursuant to section

4-2 of the Norwegian Securities Trading Act.