Eqva ASA

Capital/Financing Update • Jul 2, 2019

Havyard Group ASA : Company update and summons to Bondholders’ Meeting

Havyard Group ASA : Company update and summons to Bondholders’ Meeting

With reference to announcement 21.March and financial reports including information regarding breach of covenants.

Havyard Group ASA («HYARD» or the “Company”) is pleased to announce that it has entered into agreements with its senior lenders for several amendments to the existing bank facilities as well as construction loan commitments for the next five newbuilding vessels (NB141-145), providing stability and transparency going forward.

The Company will today summons for a Bondholders’ Meeting for its Bond Loan HYARD01 PRO to request similar covenant waivers as obtained from the senior lenders. Upon, inter alia, receipt of proceeds from the sale of MMC First Process, it is the Company’s intention to redeem the Bond Loan in full and by the latest at year end 2019.

Please see the enclosed summons for further details. The Bondholders’ Meeting will be held on 17 July 2019.

Fearnley Securities is acting as financial advisor to the Company in connection with the proposal and has together with Wikborg Rein Advokatfirma assisted the Company in its effort to implement a sustainable long-term capital structure.

Contacts;

Havyard Group ASA:

Pål Aurvåg CFO

Tel: +47 950 05 004

E-mail: pal.aurvag@havyard.com

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