Havila Kystruten AS

Havila Kystruten AS: Amendment of existing secured bond

Havila Kystruten AS ("HKY" or the "Company") has entered into an amendment

agreement regarding its existing secured bond.

Under the amended terms, the bond maturity has been extended by six months from

July 2026 to January 2027. To support HKY's ability to explore new financing

options in the near term, the Company has agreed to settle the call premium

applicable through January 2026. This provides HKY with greater flexibility and

time to secure long-term financing alternatives.

As part of the revised agreement, the interest rate will be reduced to 6.5% for

the first five months of the extension, after which it will revert to the

original rate. The bond may also be repaid without a call premium during this

initial period. A typical call structure becomes effective after this period,

and at year-end, the premium is 101.5. The new principal amount following the

refinancing is MEUR 326, including fees, accrued interest and the call premium

on the original bond.

Financial covenants have also been adjusted to reflect HKY's current operational

ramp-up. These covenants were originally set during an early phase with limited

performance history, which imposed certain constraints. The revised terms now

offer more headroom relative to the Company's projections, enhancing financial

flexibility as operations continue to scale.

HKY, in collaboration with its financial advisors, is actively evaluating a

range of long-term financing solutions. These efforts, subject to market

conditions, aim to position the Company for growth in the upcoming tender

process to be launched by the Norwegian Government for the next concession

period.

Contacts:

Chief Executive Officer: Bent Martini, +47 905 99 650

Chief Financial Officer: Aleksander Røynesdal, +47 413 18 114

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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