Fosnavåg, 13 November 2023

Eqva ASA (OSE: EQVA) has entered into agreement to divest its Havyard Leirvik
yard in Norway, reaffirming the company's strategic direction and ambition to
become an industrial investment company listed on the Oslo Stock Exchange.

Among its current holdings is BKS, which is a leading fully integrated system
supplier for maritime, offshore and landbased industries. In addition, Eqva
holds 100 per cent of the stakes in Fossberg Kraft, a specialist in the
development, construction, and operation of small hydropower plants in Norway,
and 50 percent of the platform supply vessel (PSV) Havila Charisma.

"The sale of Havyard Leirvik will free up important resources, both human and
financial, enabling a concentrated focus on further development of Eqva's
current industrial portfolio, and look for new investment opportunities," said
Even Matre Ellingsen, Chair of the Board of Eqva. 


Active owner of industrial service companies
As an active owner, Eqva will be targeting opportunities in industrial service
companies that contribute to the green transition in maritime, power intensive
and renewable industries. The ideal candidates have a strong knowledge base,
while being light on assets. 

BKS is Eqva's largest operational asset and has grown substantially over the
past few years. This due to increasing demand from power-intensive industry and
shipping for greener solutions. Founded in 2008, BKS recorded NOK 385 million in
revenues in 2022. 

Fossberg Kraft and BKS is included in the business segment Products, solution &
renewables which had revenues of NOK 330 million and an EBITDA margin of 6.6
percent for the first six months in 2023.


About the transaction
Havyard Leirvik is being sold to Tersan Shipyard, a leading global shipbuilder
in Turkey.

The transaction is based on a share sale, where Eqva ASA is selling its shares
(100%) in Havyard Leirvik Holding AS, where the subsidiaries Havyard Leirvik AS
and Havyard Leirvik Eiendom AS are included. The transaction is settled by NOK
30 million in net cash.

"We are confident that Tersan will be a strong new owner for Havyard Leirvik,
with a clear strategic interest in continuing its proud industrial tradition. As
a leading player in the industry, Tersan has proven expertise and local
knowledge from collaborating with a wide range of customers in maritime and
aquaculture industries. For Eqva, it is important that we are leaving the yard
in good hands," says Matre Ellingsen.

"We are looking forward to becoming part of Tersan Shipyard. It is a highly
reputable company with a good standing in international shipping and maritime
circles, and with a clear ambition to further strengthen its position in
Northern Europe with Havyard Leirvik as steppingstone," said Tor Leif Mogstad,
CEO of Havyard Leirvik.


Quarterly presentation on November 15, 2023
Eqva will present the results for the third quarter on Wednesday, November 15th
at 07:00 CET. A webcast presentation will be held at 09:00 CET and will be
available on Eqva's website eqva.no. Erik Høyvik (CEO) and Ask Haukaas (interim
CFO) will together with Even Matre Ellingsen (Chair of the board), provide
further details about the transaction and Eqva's path forward.


For more information, please contact:
Erik Høyvik, Chief Executive Officer: +47 916 83 173 
Ask Haukaas, Interim Chief Financial Officer: +47 478 92 539
Even Matre Ellingsen, Chairman of the Board: + 47 990 05 500


Eqva ASA in brief 
Eqva ASA is a knowledge-based active owner of engineering, construction and
service companies that contribute to the green transition in maritime, power
intensive and renewable industries. 

The group has a well-diversified product and market portfolio, and further
growth will be established through a combination of company-based development,
utilization of synergies between the companies in the group as well as
value-creating M&A activities. 

Key companies in the group are BKS and Fossberg Kraft, each building on decades
of experience and widely recognized by clients in a broad range of industries. 

Read more on www.eqva.no


This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. The stock exchange
announcement was published by Ask Haukaas, interim CFO, Eqva ASA, at the date
and time as set out above.