Havila Shipping ASA

Prospectus • Mar 3, 2017

Havila Shipping ASA: Approval of supplemental prospectus and distribution of letters and subscription rights to eligible shareholders in the subsequent offering

Havila Shipping ASA: Approval of supplemental prospectus and distribution of letters and subscription rights to eligible shareholders in the subsequent offering

The Norwegian Financial Supervisory Authority has approved a supplemental

prospectus today prepared by the company in connection with the publishing of

the fourth quarter 2016 interim report on 28 February 2017. The supplemental

prospectus is attached and available at the website of the company's managers,

Swedbank Norge, www.swedbank.no, and Fearnley Securities,

www.fearnleysecurities.no, and also on the company's website www.havila.no via

link to the managers' websites. Hardcopies may be obtained at the offices of the

mangers: Swedbank, Filipstad Brygge 1, 0252 Oslo and Fearnley Securities AS,

Grev Wedels Plass 9, 0107 Oslo.

With reference to the stock exchange announcement on 1 March 2017, letters with

information on how to subscribe for shares in the subsequent offering will be

distributed by mail today to eligible shareholders in the subsequent offering.

The letters should be read in conjunction with the prospectus as published on

28 February 2017.

As detailed in previous announcements and in the prospectus, Eligible

Shareholders are shareholders in the Company as per the end of trading on 4

January 2017, as registered in the VPS as of 6 January 2017 (the "Record Date").

Excluded are shareholders who participated in the private placements resolved by

the shareholders' meeting on 4 January 2017 as well as shareholders who are

resident in a jurisdiction where such offering would be unlawful, or would (in

jurisdictions other than Norway) require any prospectus filing, registration or

similar action.

Each Eligible Shareholder will receive 16.28 non-transferable subscription

rights for each share registered as held by such Eligible Shareholder as of the

Record Date. Each subscription right will, subject to applicable securities

laws, give the right to subscribe for and be allocated one new share. The

subscription period for the subsequent offering

commences on 6 March 2017 and expires on 20 March 2017 at 16:30 hours.

Please note that subscription rights that are not used to subscribe for new

shares before the expiry of the subscription period will have no value and will

lapse without compensation to the holder.

Over-subscription is permitted, while subscription without subscription rights

is not permitted.

The subsequent offering is managed by Swedbank and Fearnley Securities.

The Prospectus, including the subscription form, is available at the web sites

and offices of the managers as detailed above.

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 of the Norwegian Securities Trading Act.