Eqva ASA — Capital/Financing Update 2016

Jul 25, 2016

Result of exchange offer

Result of exchange offer

NOT FOR RELEASE,

PUBLICATION OR

DISTRIBUTION, IN

WHOLE OR IN PART

DIRECTLY OR

INDIRECTLY, IN

AUSTRALIA, CANADA,

JAPAN OR THE UNITED

STATES OR ANY OTHER

JURISDICTION IN

WHICH SUCH RELEASE,

PUBLICATION OR

DISTRIBUTION WOULD

BE UNLAWFUL.

Reference is made to

Havyard Group ASA's

(the "Company")

stock exchange

announcements dated

16 June, 30 June and

12 July 2016

regarding the

Company's exchange

offer whereby the

Company has invited

the Company's

bondholders to

subscribe for up to

2,252,830 new shares

in the Company.

The application

period in the

exchange offer ended

20 July 2016. The

Company received

applications for a

total of NOK

3,000,000,

corresponding to a

rounded number of

363,600 new shares

in the Company and

the board of

directors has

resolved to call on

the guarantee for an

additional 1,889,230

shares, implying

that it will

allocate a total of

2,252,830 new shares

in the exchange

offer. Settlement of

the exchange offer

will imply that a

total of 18,585,848

bonds in the FRN

Havyard Group ASA

Senior Unsecured

Bond Issue 2014/2017

will be set-off and

deleted.

Settlement

instructions will be

sent to bondholders

who were allocated

shares under the

exchange offer later

today. Settlement is

expected to take

place on or about 23

August 2016 in

connection with the

issuance and listing

on Oslo Børs of the

new shares.

Fearnley Securities

AS has been the

manager for the

transaction and

Advokatfirmaet

Selmer DA has been

engaged as legal

advisor for the

manager.

For further

information, please

contact:

Pål Aurvåg

CFO

+47 95 00 50 04

Per Lauvvang

Fearnley Securities

+ 47 95 11 10 51

This information is

subject to the

disclosure

requirements

pursuant to section

5-12 of the

Norwegian Securities

Trading Act.