Mowi ASA (OSE:MOWI): Q3 2025 Trading update

15 Oct 2025 06:30 CEST

Harvest volumes Q3 2025 (1)

Farming Norway 99.5 thousand tonnes

Farming Scotland 17.5 thousand tonnes

Farming Chile 22.5 thousand tonnes

Farming Canada 15.5 thousand tonnes

Farming Ireland 3.0 thousand tonnes

Farming Faroes 2.5 thousand tonnes

Farming Iceland (Arctic Fish) 5.5 thousand tonnes

Total 166.0 thousand tonnes

Harvest volumes in the quarter of 166k GWT were all-time high (161k GWT in Q3
2024). In connection with the presentation of the Q2 2025 results, Mowi guided a
total harvest volume of 160k GWT for Q3 2025.

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

Additional information

Operational EBIT for the Group was approx. EUR 112 million in Q3 2025 (NOK
1,322 million / EURNOK 11.80). Blended farming cost was EUR 5.42 per kg in the
quarter, down from EUR 5.72 in Q3 2024 and stable from Q2 as guided.

Total Q3 Operational EBIT per kg through the value chain was approximately as
follows:

Norway EUR 1.10

Scotland EUR 1.55

Chile EUR 0.55

Canada EUR (2.00)   (Canada West EUR 0.40)

Ireland EUR 0.20

Faroes EUR 0.55

Iceland EUR (1.10)

Operational EBIT in Consumer Products was EUR 66 million. Operational EBITDA in
Feed was EUR 26 million in Q3 2025. Reported financial net interest-bearing debt
(NIBD) for the group was approximately EUR 1 760 million at the end of the
quarter (excluding IFRS 16 effects). The complete Q3 2025 report will be
released on 5 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.

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