Mowi Announces Strategic Review of Feed Division

04 Mar 2025 07:00 CET

(Bergen, 4 March 2025) Mowi has today announced that it is initiating a
strategic review of its integrated Feed division. The review will assess all
available options, including a sale.

In 2024, the Feed division generated operating revenues of EUR 1,122 million and
Operational EBITDA of EUR 62 million. Its core assets include feed mills in
Norway and Scotland with production capacity of 460,000 tonnes(()(1)) and
240,000 tonnes respectively, i.e. combined capacity of 700,000 tonnes. These
plants supplied practically all of the feed requirements of Mowi's European
salmon farming operations last year. In total, Mowi's Feed division employs 140
FTEs.

"In just a few years Mowi has grown from a 400,000 tonnes farmer to approaching
a 600,000 tonne farmer with production in seven countries and 11 farming regions
with all the complexity that entails. Mowi also has an extensive downstream
business in 26 countries. In order to streamline our operations, we therefore
feel the time is ripe to assess how our Feed division will be organised in the
future," said Ivan Vindheim, Mowi CEO.

Mowi has engaged Arctic Securities to assist with the review. While the company
will now initiate a structured process, there is no certainty as to whether any
transaction will arise, nor as to the terms thereof.

Mowi will provide further updates as appropriate but does not intend to comment
further on the process unless and until a definitive agreement is reached or the
process is terminated.

(1) Including an ongoing 60,000 tonnes capacity expansion expected to be fully
operational by Q2 2026

About Mowi ASA
Mowi is one of the world's leading seafood companies and the largest producer of
farm-raised Atlantic salmon in the world with production in seven farming
countries including Norway, Scotland, Ireland, Faroes, Iceland, Canada and
Chile.

Mowi is a fully integrated global seafood company, bringing salmon and other
seafood of supreme quality to consumers around the world, partly under its own
MOWI brand. Mowi is ranked as the most sustainable listed animal protein
producer in the world by Coller FAIRR.

With headquarters in Bergen, Norway, Mowi employs 11 800 people in 26 countries
worldwide, and is listed on the Oslo Stock Exchange. Turnover was EUR 5.6
billion in 2024.

For more information, please visit mowi.com.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

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