Mowi's acquisition of Nova Sea approved

21 Oct 2025 10:59 CEST

(Bergen, 21 October 2025) Mowi's acquisition of a controlling stake in Nova Sea
AS has received final approval.

Reference is made to the stock exchange notice of 30(th) January 2025 regarding
Mowi's agreement to increase its ownership share of Nova Sea AS from 49% to
95%. Following approval of the transaction by the EU Commission last week, Mowi
has today been informed that the Norwegian competition authority has also
approved the transaction. This means that all formal approvals are now in place
and the transaction can be completed.

With Nova Sea, Mowi now expects to harvest 597,000 tonnes in 2025. Of that,
372,000 tonnes will be in Norway, including 161,000 tonnes in Northern Norway,
one of the world's best regions for farming Atlantic salmon.

In just a few years, Mowi has gone from producing 400,000 tonnes globally to
producing nearly 600,000 tonnes. This corresponds to annual growth of 6.9%,
compared with the industry average of 3.6% in the same period.

"The Nova Sea acquisition is a strategically important transaction for Mowi and
will be a catalyst for sustainable growth in Northern Norway. We will grow
further through the value chain and invest more in the region in the future,
creating more jobs and stimulating more activity in coastal areas," said Mowi
CEO Ivan Vindheim.

Vindheim believes that Mowi and Nova Sea are an excellent operational fit for
each other and expects the transaction to result in significant synergies,
preliminarily estimated at NOK 400 million (EUR 34 million) annually. These
include better MAB utilisation and an improved license and site portfolio in the
company's northernmost region.

"This transaction will strengthen our presence in what is probably the world's
best region for farming Atlantic salmon, as well as bringing about improved
biological results and biosecurity in the region," says Vindheim.

For further information, please contact:
Kristian Ellingsen, CFO, +47 905 14 275
Kim Galtung Døsvig, IR Officer & Head of Treasury, +47 908 76?339
Ola Helge Hjetland, Group Communications Director, +47 970 67 932

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 an estimated harvest for 2025 of
597 000 tonnes from 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. For six successive years Mowi has been 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 www.mowi.com (http://www.mowi.com).

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

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