Havila Kystruten AS

Havila Kystruten AS: Ministry of Transport has withdrawn the fine related to delayed start-up for Havila Polaris

Reference is made to the Stock Exchange Release sent 8(th) February 2023, where

the company informed about a fine amounting to NOK 7.7 million per month from

January 2023 for delayed start-up of Havila Polaris.

The Ministry of Transport has today informed the company that they accept the

company's claim that the delays are due to circumstances beyond the company's

control.

As a result, the Ministry of Transport has withdrawn the demand for a fine on

the basis of force majeure. The Ministry of Transport has also informed the

company that, based on their conclusion,

they accept that the delayed start-up of Havila Pollux is also due to

circumstances beyond the company's control and the company will not be fined for

this delay. Under the condition that the reason for the delay is the one that is

now accepted.

There are still, as previously notified, unresolved issues related to the

sanction regulations which means that the start-up for Havila Polaris is now set

for 21(st) of May 2023.

Contacts:

CEO Bent Martini: + 47 905 99 650

CFO Arne Johan Dale: + 47 909 87 706

AI Terminal