Mowi ASA (OSE

MOWI): Q1 2024 Trading update

Harvest volumes Q1 2024 (1)

Farming Norway	55.0 thousand tonnes
Farming Scotland	14.5 thousand tonnes
Farming Chile	12.5 thousand tonnes
Farming Canada	8.5 thousand tonnes
Farming Ireland	1.0 thousand tonnes
Farming Faroes	2.5 thousand tonnes
Farming Iceland (Arctic Fish)	2.5 thousand tonnes
Total	96.5 thousand tonnes

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

Additional information

Operational EBIT for the Group was approximately EUR 201 million in Q1 2024. Blended farming cost was EUR 6.05 per kg in the quarter. Issues with winter sores and string jellyfish have resulted in low superior share and average size on fish harvested in Norway. This has impacted price and cost performance accordingly.

Total Q1 Operational EBIT per kg through the value chain was approximately as follows:

Norway	EUR	2.50
Scotland	EUR	2.20
Chile	EUR	0.95
Canada	EUR	(0.25)
Ireland	EUR	3.90
Faroes	EUR	3.50
Iceland	EUR	3.80

Operational EBIT in Consumer Products was EUR 24 million. Operational EBITDA in Feed was EUR 6 million in Q1 2024. Reported financial net interest-bearing debt (NIBD) for the group was approximately EUR 1 820 million at the end of the quarter (excluding IFRS 16 effects). The complete Q1 2024 report will be released on 8 May 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.