Havila Kystruten AS: Delayed start of operations for Havila Polaris and Havila Pollux

16 Feb 2023 14:03 CET

Reference is made to previous stock exchange announcements about delayed start-
up for the completed coastal cruise ship Havila Polaris.

As reported earlier, the company has applied to Central Bank of Ireland for a
licence, which is crucial for the company to be able to pay off debts and to
release the security linked to the vessels. It is not clear how long this will
take.

The company is forced to cancel the departures from Bergen with Havila Polaris,
which were scheduled to start on 5(th), 16(th) and 27(th) of March 2023. The
scheduled start-up of Havila Polaris is set for 7(th) of April 2023.

The company strongly apologizes for the time-consuming and the complicated
processes that are necessary to ensure that redemption of existing debt does not
contravene the sanctions regulations either for the company or new lenders.

Havila Pollux, which is under construction at the Tersan shipyard in Turkey, was
planned to start on route from Bergen on 22(nd) of March. The Tersan shipyard
has this week notified force majeure after the earthquake disaster that hit
Turkey and Syria last week.

Consequently, a large number of workers from the shipyard, many who were to work
on Havila Pollux, have traveled to assist in the disaster area. Based on this,
the delivery of Havila Pollux has been postponed, for now until the end of April
2023.

The company fully understands the situation Tersan is in as a result and has
great sympathy with all those affected after the tragic natural disaster.

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

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