Eqva ASA

Earnings Release • Aug 31, 2021

Financial results for the second quarter of 2021

Financial results for the second quarter of 2021

Please find attached the board of directors’ report for the second quarter 2021.

Havyard Group ASA reported revenues of NOK 1 205 million YTD 2021, slightly down from YTD 2020 (1 298 million). The EBIT is 89 million, up 35 million compared to same period in 2020.

“We see lower activity at the shipyard, while HAV Group is up. The shipyard has delivered 2 vessels per Q2 and has two more to go before the focus will be to operate as a reconstruction and service yard. The restructuring process of the shipyard has continuously been carried out over the last months, simultaneously to the day-to-day business”, says CEO of Havyard Group, Erik Høyvik.

Profit before tax ended at NOK 132 million, an increase of NOK 164 million from the same period in 2020. The result for the period is affected by the effect of a public debt settlement in the subsidiary Havyard Ship Technology AS of NOK 47 million.

The consolidated cash balance is 556 million (of which 334 million is in HAV Group ASA), which is up 327 million from the closing balance in the annual accounts for 2020. In addition to a positive contribution from operations, refinancing activities were carried out in the first quarter of 2021 where HAV Group ASA was listed on Euronext Growth Oslo, capital was raised and shares were sold. The bond debt in Havyard Group was repaid in the same quarter. The consolidated order book is 674 million at the end of the second quarter of 2021.

The Group will continue to create value through active ownership in HAV Group ASA which delivers sustainable ship- design and equipment with positive environmental impacts. In addition, the Group will facilitate the further development of the shipyard Havyard Leirvik AS, based on the current conditions.

For additional information, please contact:

Erik Høyvik, CEO

erik.hoyvik@havyard.com

+47 91 68 31 73

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Daniel Kopperstad, Head of Legal Affairs, on 31 August 2021 at 07:00 CET.