Havila Kystruten AS: Delayed startup Havila Polaris

25 Jan 2023 12:46 CET

Reference is made to previous stock exchange announcements about the delayed
takeover of Havila Polaris and ongoing activities to resolve challenges the
company is facing as a result of sanctions against the company that was supposed
to finance the vessels.

The company feels compelled to cancel the departures from Bergen which were
scheduled to start on 11th and 22nd of February 2023.

The company strongly regrets the time-consuming processes that are necessary to
ensure that no activities or solutions entail a risk of being in breach of any
sanction regulations.

As announced on 18th of January 2023, the company's legal advisor in Ireland is
working with an application to the Irish central bank for licenses necessary for
the company to be able to pay off debts and to have securities linked to the
vessels released. The company will return with information as soon as
clarifications are available.

The company will do its utmost to offer the affected passengers' journeys with
later departures or alternative departures with Havila Capella and Havila
Castor.

Despite the challenges, the company is happy to report that many will travel
with the most modern and environmentally friendly ships that have ever sailed
the historic coastal route between Bergen and Kirkenes.

The orders are increasing day by day and for 2023 more than 50 % of the expected
capacity is now reserved. It is higher than expectations. The company looks
forward with great anticipation to having all four ships in full operation along
the Norwegian coast, in line with the agreement with the Norwegian authorities.

Contacts:
CEO, Bent Martini: +47 905 99 650
CFO, Arne Johan Dale: +47 909 87 706

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