Mowi enters into Transaction Agreement to purchase Torghatten Aqua's salmon farming seawater business

10 Mar 2026 07:00 CET

(Bergen, 10 March 2026). Mowi is pleased to announce that we have entered into a
Transaction Agreement to purchase all of Torghatten Aqua AS's salmon farming
seawater business. Torghatten Aqua is a salmon farming conglomerate in
production area 8 in Northern Norway that is engaged in several activities
including renting out salmon licenses and seawater sites (joint operation
agreement with a third party) to school activities, land-based salmon farming
and consulting. Upon Mowi's acquisition of Nova Sea last year, we became the
owner of a 33.34% stake in Torghatten Aqua.

Mowi has now entered into an agreement to carve-out and purchase 3.37 licenses
in total (2,628 tonnes maximum allowed biomass); 1.37 commercial license, 1
exhibition license and 1 education license. We expect to harvest around 4,500
GWT annually from this license portfolio.

"Torghatten's seawater farming business is a very good match with Mowi Region
North and will further strengthen Mowi's leading presence in Northern Norway.
The transaction will strengthen Mowi's position in an area known for its
excellent biological performance which is already core to Mowi Region North, and
it supports our long-term strategy to sustainably grow our harvest volumes in a
cost competitive way," says Mowi's CEO Ivan Vindheim.

Part of the transaction is that Mowi will return its 33.34% stake in Torghatten
Aqua such that they can develop its non-seawater operations on a standalone
basis. Cash consideration on a net basis from Mowi to Torghatten Aqua is NOK
293 million (EUR 26 million), payable upon closing.

The transaction is subject to approval by the Norwegian competition authority
and customary closing conditions.

For further information, please contact:
Kristian Ellingsen, CFO, Mowi, +47 905 14 275
Kim Galtung Døsvig, IR Officer & Head of Treasury, Mowi, +47 908 76?339

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 2026 harvest of
605,000 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. Mowi is ranked as the most sustainable listed animal protein
producer in the world by Coller FAIRR. With headquarters in Bergen, Norway, Mowi
employs 12 500 people in 26 countries worldwide, and is listed on the Oslo Stock
Exchange. Turnover was EUR 5.7 billion in 2025.

For more information, please visit www.mowi.com (http://www.mowi.com).

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