Mowi ASA (OSE:MOWI): Q3 2023 Trading update

Harvest volumes Q3 2023 (1)

Farming Norway	86.0 thousand tonnes
Farming Scotland	15.0 thousand tonnes
Farming Chile	17.5 thousand tonnes
Farming Canada	7.5 thousand tonnes
Farming Ireland	2.0 thousand tonnes
Farming Faroes	2.5 thousand tonnes
Farming Iceland (Arctic Fish)	4.5 thousand tonnes
Total	135.0 thousand tonnes

Quarterly harvest volumes were record-high at 135 thousand tonnes (GWE).

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

Additional information

Operational EBIT for the Group was approximately EUR 203 million in Q3 2023 (NOK 2 317 million, EURNOK 11.41) versus EUR 240 million in Q3 2022 (NOK 2 410 million, EURNOK 10.06). Blended farming cost was EUR 5.73 per kg in the quarter.

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

Norway	EUR	2.15
Scotland	EUR	0.65
Chile	EUR	0.50
Canada	EUR	(0.60)
Ireland	EUR	0.80
Faroes	EUR	1.90
Iceland	EUR	0.15

Earnings in Canada were negatively impacted by algae-induced mortality.

Operational EBIT in Consumer Products was EUR 40 million (EUR 30 million in Q3 2022). Operational EBITDA in Feed was EUR 20 million in Q3 2023 (EUR 19 million in Q3 2022). Reported financial net interest-bearing debt (NIBD) for the group was approximately EUR 1 705 million at the end of the quarter (excluding IFRS 16 effects). The complete Q3 2023 report will be released on 8 November 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.