Havila Kystruten AS: Completion of Comprehensive Debt Refinancing

24 Nov 2025 14:38 CET

Havila Kystruten AS ("Havila Kystruten" or the "Company") announces that the
previously disclosed EUR 456 million refinancing has now been completed. Closing
took place on 24 November 2025 following satisfaction of all customary
conditions.

The refinancing has been implemented through a 15-year financial lease facility
provided by a subsidiary of Havila Holding AS. All outstanding bond debt and
shareholder loans have been fully repaid at closing, and no new equity or
convertible instruments have been issued.

Following closing, the final hire schedule under the facility has been
confirmed. The total hire equals EUR 150,000 per day, consisting of a fixed hire
equivalent to EUR 93,000 per day in year 1, EUR 107,500 per day in year 2, EUR
114,750 per day in year 3, and EUR 125,000 per day in year 4, EUR 127,000 per
day in year 5, and EUR 123,500 per day from year 6 onwards. The remaining
variable portion of the hire, relating to the junior tranche, is payable either
in cash or through payment-in-kind (PIK) at the Company's discretion.

Completion of the refinancing provides the Company with a stable and predictable
financing structure, which may be optimized or refinanced at a later stage.

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

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