Havila Shipping ASA

Capital/Financing Update • Nov 23, 2016

(Dette notiset er kun utarbeidet på engelsk. For ytterligere informasjon vennligst ta kontakt med Nordic Trustee ASA på telefon +47 22 87 94 00.)

To the Bondholders In

ISIN NO 001 065717.4 FRN Havila Shipping ASA Senior Unsecured Bond Issue ("HAVI08")

Oslo, 23 November 2016

NOTICE TO BONDHOLDERS - CANCELLATION OF BONDHOLDERS' MEETING

Nordic Trustee ASA (the "Bond Trustee") acts as trustee for the bondholders in HAVI08. The Bond Trustee issued a summons on 10 November 2016 upon instruction from bondholders representing at least 1/10 of the Outstanding Bonds (the "Bondholder Group" and the "Bondholder Group Proposal"). The Bondholder Group has instructured the Bond Trustee to withdraw the Bondholder Group Proposal which was subject to a Bondholders' Meeting 24 November 2016 to facilitate the Company's intention to continue a close dialog with all stakeholders as refered to in the Company's notice on 23 November 2016 and the Company's intention to submit a revised proposal within short.

Nordic Trustee ASA

Roeun Erik Lærum