HAVI disclosures

Havila Shipping ASA has signed another contract with Peterson Den Helder BV for the PSV Havila Borg on market terms.
The contract is in direct continuation of existing contract and for a firm period until late fourth quarter 2026, with further options for extension up to two years.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Havila Shipping ASA and OceanPact has extended the bareboat contract for Havila Harmony in Brazil.
The extension is on market terms for a firm period until end of 2026 with extension options thereafter.

Contacts;
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Equinor Energy has exercised one year option for Havila Troll, keeping Havila Troll until November 2026.

Equinor Energy has 3 additional options, each for one year.

Contacts:

Chief Executive Officer, Njål Sævik, +47 909 35 722
Chief Financial Officer, Arne Johan Dale, +47 909 87 706

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

Summary

Freight revenues amounted to NOK 165.5 million in Q2 2025, an increase of NOK 19.5 million compared to the corresponding period last year and approximately at the same level as the previous quarter.

The average rate of assignments and utilization in this quarter is approximately at the same level as in the previous quarter. Operating expenses were NOK 83.7 million in Q2 2025, an increase compared to Q2 2024 of NOK 9.2 million and a decrease compared to the previous quarter of NOK 7.3 million.

• The company had a profit before depreciation of NOK 91.3 million in Q2 2025, compared to NOK 78.4 million in Q2 2024. 
• There have been no impairment charges or reversal of previous impairment charges in the second quarter of this year. In the second quarter of last year, previous impairment charges were reversed by NOK 154.0 million.
• Value adjustment of the company’s debt amounted to NOK – 22.6 million in the second quarter compared to NOK – 193.3 million in the corresponding period last year.
• Profit before tax was NOK 8.7 million in Q2 2025, compared to NOK 4.0 million in Q2 2024.

As of 30.06.25, the company had 14 vessels operated from Fosnavåg, six of which were for external owners.

Fleet utilization in Q2 2025 was 98.1%.

Result for 2 quarter 2025

• Total operating income amounted to NOK 175.0 million (NOK 152.9 million).
• Total operating expenses were NOK 83.7 million (NOK 74.5 million). 
• Operating profit before depreciation was NOK 91.3 million (NOK 78.4 million).
• Depreciation was NOK 50.1 million (NOK 35.9 million).
• Reversal of impairment charges was NOK 0 million (NOK 154.0 million)
• Net financial items were NOK - 35.1 million (NOK - 196.0 million) whereof value adjustment of debt was NOK - 22.3 million (NOK - 193.3 million).
• The profit before tax was NOK 8.7 million (NOK 4.0 million).

Result for 1st half of 2025

• Total operating income amounted to NOK 347.5 million (NOK 279.0).
• Total operating expenses were NOK 174.7 million (NOK 155.8 million).
• The operating profit before depreciation was NOK 172.8 million (NOK 123.2 million).
• Depreciation was NOK 95.0 million (NOK 70.3 million).
• Reversal of impairment charges was NOK 32.0 million (NOK 154.0 million)
• Net financial items were NOK - 88.3 million (NOK - 202.1 million), whereof value adjustment of debt was NOK - 60.2 million (NOK - 199.5 million).
• The profit before tax was NOK 27.5 million (NOK 4.2 million).

Balance and liquidity per 30/06/25

Total current assets amounted to NOK 316.1 million on 30/06/25, whereof bank deposits were NOK 155.1 million (whereof NOK 3.4 million restricted cash related to withholding tax).

On 30/06/24, total current assets amounted to NOK 301.0 million, whereof bank deposits amounted to NOK 166.0 million (of this NOK 8.7 million restricted cash related to withholding tax and interest and instalment payments).

Net cash flow from operations was per 30/06/25 NOK 108.6 million (NOK 139.8 million). Cash flow from investing activities was NOK - 56.8 million (NOK - 10.7 million).

Payment of loan instalments and lease liabilities constituted a net change from financing activities of NOK - 44.5 million (NOK - 62.7 million).

As of 30/06/25, the book value of the fleet is NOK 1,180.9 million.

As of 30/06/25, total long-term debt in the balance sheet amounted to NOK 538.9 million, which includes loans provided by the sister company Havila Finans AS of NOK 499.6 million.

The fair value of the remaining debt is estimated at NOK 155 million.  The fair value of the conversion right of non-interest-bearing debt is estimated at NOK 184 million. 

The remaining liquidity loan from Havila Holding amounts to NOK 54 million and the fair value of the conversion right is estimated at NOK 137 million.  Together with accrued interest, this constitutes a short-term part of long-term debt in the balance sheet of NOK 530 million.

As of 30/06/25, nominal value of interest-bearing debt was NOK 637.3 million, and nominal value of non-interest-bearing debt was NOK 602.1 million. All nominal interest-bearing debt is in NOK.

Fleet

Havila Shipping ASA operates today 14 vessels,

10 PSV

- Four owned externally

- One owned 50% and not consolidated

3 Subsea

- One owned externally

- One hired out on bareboat contract

1 RRV (bareboat)

Man-years

Havila Shipping ASA employed in Q2 2025 398 seamen on the company’s vessels and vessels on management, in addition to 12 man-years in the administration.

Contacts:

Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Attachment

• HAVIQ225

The Annual General Meeting in Havila Shipping ASA was held on 15 May 2025.

All proposals were approved according to the distributed agenda.

The minutes of meeting is attached and will be made available at the company website.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Attachment

• Minutes OGM 15 05 2025

Summary

• Freight revenues were NOK 166.3 million in Q1 2025, an increase of NOK 49.6 million compared to the corresponding period last year and an increase of NOK 18.3 million compared to the previous quarter.
• The average rate of assignments and utilization is higher this quarter than the previous quarter. Operating expenses were NOK 91.0 million in Q1 2025, an increase compared to Q1 2024 of NOK 9.7 million and an increase compared to the previous quarter of NOK 3.3 million.
• The company had a profit before depreciation of NOK 81.6 million in Q1 2025, compared to NOK 44.8 million in Q1 2024. 
• Previous impairment charges in the first quarter of this year have been reversed by NOK 32.0 million. In the first quarter of last year, there was no reversal of previous impairments charges.
• Value adjustment of the company’s debt amounted to NOK – 37.9 million in the first quarter compared to NOK – 6.2 million in the corresponding period last year.
• Profit before tax was NOK 18.8 million in Q1 2025, compared to NOK 0.1 million in Q1 2024.

Three banks extended the restructuring agreement by one year until 31.12.2025. The three banks claim that the refinancing and certain other matters represent a breach of the agreement. The company disputes the claim and believes that there is no breach of contract. The company wants clarification of the matter and has therefore sent a summons to Oslo District Court on 24 March 2025, where the banks in question have been sued alleging that there is no default.

• As of 31.03.25, the company had 14 vessels operated from Fosnavåg, six of which were for external owners.
• Fleet utilization in Q1 2025 was 97.4%.

Result for 1 quarter 2025

• Total operating income amounted to NOK 172.6 million (NOK 126.1 million).
• Total operating expenses were NOK 91.0 million (NOK 81.3 million). 
• Operating profit before depreciation was NOK 81.6 million (NOK 44.8 million).
• Depreciation was NOK 45.0 million (NOK 34.5 million).
• Reversal of impairment charges was NOK 32,0 million (NOK 0 million)
• Net financial items were NOK - 53.2 million (NOK - 6.1 million) whereof value adjustment of debt was NOK - 37.9 million (NOK - 6.2 million).
• The profit before tax was NOK 18.8 million (NOK 0.1 million).

Balance and liquidity per 31/03/25

• Total current assets amounted to NOK 295.7 million on 31/03/25, whereof bank deposits were NOK 170.9 million (whereof NOK 0.7 million restricted cash related to withholding tax).
• On 31/03/24, total current assets amounted to NOK 276.7 million, whereof bank deposits amounted to NOK 124.9 million (of this NOK 9.2 million restricted cash related to withholding tax).
• Net cash flow from operations was per 31/03/25 NOK 53.3 million (NOK 60.5 million).
• Cash flow from investing activities was NOK - 15.0 million NOK - 4.0 million).
• Payment of loan instalments and lease liabilities constituted a net change from financing activities of NOK - 14.0 million (NOK - 31.9 million).
• As of 31/03/25, the book value of the fleet is NOK 1,186.4 million.
• As of 31/03/25, total long-term debt in the balance sheet amounted to NOK 546.5 million which includes loans provided by the sister company Havila Finans AS of NOK 499.6 million.
• The fair value of the remaining debt is estimated at NOK 162 million.  The fair value of the conversion right of non-interest-bearing debt is estimated at NOK 178 million. 
• The remaining liquidity loan from Havila Holding amounts to NOK 54 million and the fair value of the conversion right is estimated at NOK 131 million.  Together with accrued interest, this constitutes a short-term part of long-term debt in the balance sheet of NOK 525 million.
• As of 31/03/25, nominal value of interest-bearing debt was NOK 644.2 million, and nominal value of non-interest-bearing debt was NOK 610.7 million. All nominal interest-bearing debt is in NOK.

Fleet

Havila Shipping ASA operates today 14 vessels,
10 PSV
- Four owned externally
- One owned 50% and not consolidated
3 Subsea
- One owned externally
- One hired out on bareboat contract
1 RRV (bareboat)

Man-years

Havila Shipping ASA employed in Q1 2025 402 seamen on the company’s vessels and vessels on management, in addition to 12 man-years in the administration.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Attachment

• HAVIQ125

The Board of Directors of Havila Shipping ASA hereby gives notice of the Ordinary General Meeting.

The meeting will take place on 15 May, 2025, at 14 hours.

The meeting will be held as a digital meeeting only, with no physical attendance for shareholders.

The notice will be sent to shareholders, by post to the registered address in VPS, or through VPS.


Contacts:

CEO Njål Sævik, +47 909 35 722

CFO Arne Johan Dale, +47 909 87 706

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

Attachment

• OGF 2025

Today, the Board of Directors of Havila Shipping ASA has approved the financial statements for 2024 for both the Group and the parent company.

The numbers are in line with preliminary accounts released on 26  February 2025.

Contacts:

Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Attachments

• HAVI2024
• 5967007LIEEXZXFJ8876-2024-12-31-no

Reference is made to the stock exchange announcement on 21 January 2025, informing about allegations from lenders that there is a breach of the company’s restructuring agreement from 2020.
The company disputes the allegations and is of the opinion that there is no form of breach.
The company seeks a final resolution and has therefore today filed a lawsuit with the Oslo District Court.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Havila Shipping has extended the bareboat contract in Brazil with OceanPact for Havila Harmony.
The extension is for the period until 31.12.25 and is on market terms.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Havila Shipping ASA has signed a contract with Peterson Den Helder BV for the PSV Havila Borg on market terms.
The contract is planned to be in direct continuation of existing contract and for a firm period of 3 wells estimated to 215 days,
with optional periods for 5 wells, each estimated to 65 days.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Summary

Freight revenues were NOK 148.0 million in Q4 2024, at the same level as the corresponding period last year and an increase of NOK 7.1 million compared to the previous quarter. 

The average rate is higher this quarter than the previous quarter, and utilization is on same level as the previous quarter. Operating expenses were NOK 87.7 million in Q4 2024, a decrease compared to Q4 2023 of NOK 1.6 million and an increase compared to the previous quarter of NOK 6.5 million.

The company achieved an operating income before depreciation of NOK 68.2 million in Q4 2024, compared with NOK 72.9 million in Q4 2023.

No impairment charges or reversals of previous impairment charges were made in the fourth quarter. In the fourth quarter last year, previous impairment charges were reversed by NOK 400.0 million.

Value adjustment of the company’s debt amounted to NOK - 19.5 million in the fourth quarter compared to NOK - 478.7 million in the corresponding period last year.

Profit before tax was NOK 2.6 million in Q4 2024, compared with NOK   28.7 million in Q4 2023.

Three banks and the owners of two bond loans chose settlement as per the restructuring agreement as of 31/12/24. Interest-bearing debt of NOK 500 million was settled through refinancing.

At the same time, non-interest-bearing debt of NOK 522 million was converted into 123,281,190 shares in the company.

Havila Holding simultaneously converted NOK 46 million of the liquidity loan into 128,111,385 shares in the company to maintain its ownership interest of 50.96% of the shares.

The fair value of converted debt to equity amounted to NOK 299 million.

The group had as of 31/12/24 14 vessels operated from Fosnavåg, six for external owners.

The fleet utilization in Q4 2024 was 92 %.

Result for 4 quarter 2024

• Total operating income amounted to NOK 155.9 million (NOK 162.2 million).
• Total operating expenses were NOK 87.7 million (NOK 89.3 million). 
• Operating profit before depreciation was NOK 68.2 million (NOK 72.9 million).
• Depreciation was NOK 39.0 million (NOK 24.2 million).
• Net financial items were NOK - 23.4 million (NOK - 478.8 million) whereof value adjustment of debt was NOK - 19.5 million (NOK - 478.7 million).
• The profit before tax was NOK 2.6 million (NOK - 28.7 million).

Result 2024

• Total operating income amounted to NOK 585.1 million (NOK 912.2 million whereof NOK 215.0 million was gain on sale of fixed assets).
• Total operating expenses were NOK 324.8 million (NOK 431.2 million).
• The operating profit before depreciation was NOK 260.3 million (NOK 488.1 million).
• Depreciation was NOK 146.3 million (NOK 131.6 million).
• Reversal of impairment charge of fixed assets was NOK 154.0 million (NOK 865.0 million).
• Net financial items were NOK - 255.7 million (NOK - 1,105.3 million), whereof value adjustment of debt NOK - 249.5 million (NOK - 1,080.8 million).
• The profit before tax was NOK 10.4 million (NOK 113.1 million).

Balance and liquidity per 31/12/24

Total current assets amounted to NOK 278.8 million on 31/12/24, whereof bank deposits were NOK 147.6 million (whereof NOK 9.8 million restricted cash related to withholding tax). On 31/12/23,

total current assets amounted to NOK 280.4 million, whereof bank deposits amounted to NOK 97.7 million (of this NOK 10.4 million restricted cash related to withholding tax).

Net cash flow from operations was per 31/12/24 NOK 229.6 million (NOK 95.8 million). Cash flow from investing activities was NOK - 32.8 million NOK - 22.3 million).

Payment of loan instalments and lease liabilities constituted a net change from financing activities of NOK - 150.6 million (NOK - 127.6 million).  As of 31/12/24, the book value of the fleet is NOK 1,173.6 million.

As of 31/12/24, total long-term debt in the balance sheet amounted to NOK 499.6 million. This consist of loans provided by the sister company Havila Finans AS.

All debt to credit institutions is recognized as short-term debt in the balance sheet per 31/12/24. Total fair value of this debt amounts to NOK 326.7 million and consist of interest-bearing debt

of NOK 143.6 million and non-interest-bearing debt NOK 183.1 million. In addition, the fair market value of the convertible liquidity loan is NOK 176.1 million. Accrued interests amounts to NOK 2.0 million. 

As of 31/12/24, nominal value of interest-bearing debt was NOK 151.5 million, and nominal value of non-interest-bearing debt was NOK 616.3 million. All nominal interest-bearing debt is in NOK.

Fleet

Havila Shipping ASA operates today 14 vessels,
10 PSV
- Four owned externally
- One owned 50% and not consolidated
3 Subsea
- One owned externally
- One hired out on bareboat contract
1 RRV (bareboat)

Man-years

Havila Shipping ASA employed in 2024 402 seamen on the company’s vessels and vessels on management, in addition to 14 man-years in the administration.

Contacts:

Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Attachment

• HAVI Q424

Reference is made to the stock exchange announcement 1 October 2024, informing that three bank lenders, and the bondholders in two bond loans had decided to have their debt settled at the end of 2024 in accordance with the terms of the restructuring agreement. 
It was also reported that three banks chose to extend the restructuring agreement by one year related to two vessels in operation and four sold vessels.

Reference is also made to the stock exchange announcement of 30 December 2024, where settlement of the debt related to Havila Borg, Havila Clipper, Havila Fanø and Havila Subsea was announced.
Cash settlement of NOK 499.6 million was refinanced by a bond issue and non-interest-bearing debt of NOK 522.3 million was converted into shares. 

Three banks that extended the restructuring agreement are financing the PSV vessel Havila Foresight and the subsea vessel Havila Harmony. 
Total interest-bearing debt related to these vessels amounts to NOK 151.5 million and non-interest-bearing debt related to these vessels, as well as four sold vessels, amounts to NOK 616.3 million.

According to the restructuring agreement, the vessels in question will service this debt through 2025 and the remaining interest-bearing debt will be refinanced and settled in cash at the end of 2025 and the remaining non-interest-bearing debt will be converted into shares.

The company has received a letter on behalf of the three banks that extended the restructuring agreement,
claiming that the refinancing and issue of bond loan, which was used to redeem the debt of lenders who chose settlement at the end of 2024 in accordance with the agreement, is in breach of the restructuring agreement. 

It is also alleged that certain other circumstances constitute a breach of the restructuring agreement. 
The remaining lenders claim that they will be entitled to declare default on the outstanding debt, both interest bearing and non-interest bearing as set out above, as well as to claim default interest and to enforce security.

The company disputes in full the lenders' understanding of the restructuring agreement.
The company will, if necessary, have the matter resolved legally.

There is no cross-collateral or cross-default to the NOK 525 million bond loan issued in December 2024.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This Announcement was published by Arne Johan Dale,  CFO of Havila Shipping ASA, on 21 January 2025 at 18:00

Havila Shipping ASA: Disclosure of large shareholding
Íslandsbanki has today become owner of 19,130,433 shares in in Havila Shipping ASA (the “Company”) as debt has been converted to shares according to the Global Amendment Agreement II, entered into between Havila Shipping ASA with subsidiaries and their lenders on 19 June 2020. After the conversion of debt to shares Íslandsbanki owns 19,130,433 shares in the Company, representing 6.952252% of the capital and votes in the Company and consequently crossed the disclosure threshold of 5% the of the voting rights in the Company.

This disclosure is made pursuant to section 4-2 of the Norwegian Securities Trading Act.

Havila Shipping ASA: Disclosure of large shareholding
Eksfin – Export Finance Norway has today become owner of 29,561,997 shares in in Havila Shipping ASA (the “Company”) as debt has been converted to shares according to the Global Amendment Agreement II, entered into between Havila Shipping ASA with subsidiaries and their lenders on 19 June 2020. After the conversion of debt to shares Eksfin – Export Finance Norway owns 29,561,997 shares in the Company, representing 10.743220 % of the capital and votes in the Company and consequently crossed the disclosure threshold of 10% the of the voting rights in the Company.

This disclosure is made pursuant to section 4-2 of the Norwegian Securities Trading Act.

Havila Shipping ASA: Disclosure of large shareholding
SpareBank1 SMN has today become owner of 25,098,138 shares in in Havila Shipping ASA (the “Company”) as debt has been converted to shares according to the Global Amendment Agreement II, entered into between Havila Shipping ASA with subsidiaries and their lenders on 19 June 2020. After the conversion of debt to shares SpareBank1 SMN owns 25,098,138 shares in the Company, representing 9.120995% of the capital and votes in the Company and consequently crossed the disclosure threshold of 5% the of the voting rights in the Company.

This disclosure is made pursuant to section 4-2 of the Norwegian Securities Trading Act.

Reference is made to the stock exchange announcement on 30 December 2024 regarding conversion of debt to shares.
Havila Holding AS, close associate of Havila Shipping board member Hege Sævik Rabben and CEO Njål Sævik,
has pursuant to the restructuring agreements converted part of its liquidity loan to 128,111,385 shares at a price of NOK 0.36 per share.
Following the Debt Conversion, Havila Holding AS owns 140,227,951 shares and thereby maintaining its holding of 50.96% of the shares in the company.

Please see attached primary insider notification form pursuant to the requirements of the Market Abuse Regulation article 19.

Contacts: 
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Attachment

• DisclosurePDMR301224

Reference is made to the stock exchange announcements on 1 October and 16 December 2024, regarding the conversion of debt of NOK 568 million into shares and the publication of the prospectus in connection with the listing of such shares.

The Debt Conversion into shares has today been completed and the registration of new shares with the Norwegian Register of Business Enterprises has taken place.

The share capital has increased with NOK  62,848,143.75, from NOK 5,944,075 to NOK 68,792,218.75, by issuance of 251,392,575 new shares, each with a nominal value of NOK 0.25.

Havila Shipping's new registered share capital is NOK 68,792,218.75 divided into 275,168,875 shares, each with a nominal value of NOK 0.25. 

The shares will be issued and delivered to investors today.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer  Arne Johan Dale, +47 909 87 706

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

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Reference is made to the stock exchange announcement on 1 October 2024, where lenders' decisions to either receive settlement or extend their outstanding loans under the restructuring agreement were communicated.
Of the debt which is due on 30 December 2024, NOK 568 million will be converted into a total of 251,392,575 new shares in Havila Shipping planned to be issued on 30 December 2024.
The Financial Supervisory Authority of Norway approved a prospectus on 16 December 2024, prepared in connection with the listing of these shares. The Prospectus will be made available on Havila Shipping's website www.havilashipping.no/.

Wikborg Rein Advokatfirma AS is the legal advisor to Havila Shipping.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Reference is made to the stock exchange release on the 14 November 2024 which contained information about settlement of the bonds.

Please find attached information letter from Nordic Trustee regarding the settlement.

To facilitate the settlement in compliance with the Bond Agreement, the Bonds will have a last trade date 13 December 2024.

Contacts:
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Attachments

• 2024-12-12 HAVI04 information letter
• 2024-12-12 HAVI07 information letter

Havila Shipping ASA (“Havila Shipping”) is pleased to announce a successful completion of a 2-year senior secured bond issue of NOK 525 million.
The bond will be issued by Havila Finans AS, a company wholly owned by Havila Holding AS (50.96% owner of Havila Shipping) and will have a coupon of 3 months NIBOR + 5.00% p.a. with quarterly interest payments.

The net proceeds from the bond issue will be on-lent to subsidiaries of Havila Shipping and used to repay NOK 500 million of debt that shall be settled in cash on 30 December 2024.

Arctic Securities is Sole Manager in placement of the new bond issue. Advokatfirmaet Wikborg Rein is legal counsel to Havila Shipping. Advokatfirmaet Selmer is legal counsel to the Sole Manager and Nordic Trustee.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 87 706

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

Reference is made to the stock exchange notice on 1 October 2024 by Havila Shipping ASA (“Havila Shipping”) which provided information on lenders' decisions to either settle or extend their outstanding loans under the restructuring agreement.

NOK 1,022 million of debt matures on 30 December 2024, whereof NOK 500 million shall be settled in cash and NOK 522 million shall be converted to shares.

In order to refinance the 30 December 2024 maturities, Havila Finans AS a company wholly owned by Havila Holding AS (50.96% owner of Havila Shipping), has mandated Arctic Securities AS to carry out a series of fixed income meetings. A new 2-year NOK 525 million senior secured callable bond issue will follow.

The net proceeds from the bond issue will be on-lent to subsidiaries of Havila Shipping and used to repay in full the debt that shall be settled in cash on 30 December 2024.

Contacts:
Chief Executive Officer Njål Sævik, +47 909 35 722
Chief Financial Officer Arne Johan Dale, +47 909 97 706

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This announcement was published by Arne Johan Dale, CFO of Havila Shipping, on 9 December 2024 at 07:30.