Havila Kystruten AS: Amendment of existing secured bond

10 Jul 2025 20:09 CEST

Havila Kystruten AS ("HKY" or the "Company") has entered into an amendment
agreement regarding its existing secured bond.

Under the amended terms, the bond maturity has been extended by six months from
July 2026 to January 2027. To support HKY's ability to explore new financing
options in the near term, the Company has agreed to settle the call premium
applicable through January 2026. This provides HKY with greater flexibility and
time to secure long-term financing alternatives.

As part of the revised agreement, the interest rate will be reduced to 6.5% for
the first five months of the extension, after which it will revert to the
original rate. The bond may also be repaid without a call premium during this
initial period. A typical call structure becomes effective after this period,
and at year-end, the premium is 101.5. The new principal amount following the
refinancing is MEUR 326, including fees, accrued interest and the call premium
on the original bond.

Financial covenants have also been adjusted to reflect HKY's current operational
ramp-up. These covenants were originally set during an early phase with limited
performance history, which imposed certain constraints. The revised terms now
offer more headroom relative to the Company's projections, enhancing financial
flexibility as operations continue to scale.

HKY, in collaboration with its financial advisors, is actively evaluating a
range of long-term financing solutions. These efforts, subject to market
conditions, aim to position the Company for growth in the upcoming tender
process to be launched by the Norwegian Government for the next concession
period.

Contacts:
Chief Executive Officer: Bent Martini, +47 905 99 650
Chief Financial Officer: Aleksander Røynesdal, +47 413 18 114




This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

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