Mowi ASA (OSE:MOWI): Q2 2026 Trading update

Harvest volumes Q2 2026 (1)

Farming Norway	85.0 thousand tonnes
Farming Scotland	26.5 thousand tonnes
Farming Chile	17.5 thousand tonnes
Farming Canada	10.0 thousand tonnes
Farming Ireland	3.0 thousand tonnes
Farming Faroes	2.5 thousand tonnes
Farming Iceland (Arctic Fish)	5.5 thousand tonnes
Total	150.0 thousand tonnes

Harvest volumes of 150 thousand tonnes versus 133 thousand tonnes in Q2 2025 are record-high for a second quarter, equivalent to a growth of 13%. In connection with the presentation of the Q1 2026 results, Mowi guided a total harvest volume of 140k GWT for Q2 2026.

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

Additional information

Operational EBIT for the Group was approx. EUR 231 million (NOK 2 543 million, EURNOK 10.99) in Q2 2026 compared with EUR 189 million in Q2 2025 equivalent to a growth of 23% y-o-y. Blended farming cost was EUR/kg 5.21 in the quarter, down from EUR/kg 5.39 in Q2 2025 equivalent to a cost reduction of EUR/kg 0.18, or EUR 24 million (NOK 264 million, EURNOK 10.99).

Total Q2 Operational EBIT per kg through the value chain was approximately as follows:

Norway	EUR		1.85
Scotland	EUR		1.80
Chile	EUR		0.35
Canada	EUR		2.05
Ireland	EUR		(0.15)
Faroes	EUR		1.60
Iceland	EUR		(0.40)

Operational EBIT in Consumer Products was EUR 29 million. Operational EBITDA in Feed was EUR 16 million in Q2 2026. Reported financial net interest-bearing debt (NIBD) for the group was approximately EUR 2 807 million at the end of the quarter (excluding IFRS 16 effects). The complete Q2 2026 report will be released on 18 August 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.