26 July 2021

Havila Holding AS, through its wholly owned subsidiaries Havilafjord AS,
Havilafjord Holding AS and Havilafjord Holding 2 AS (together the "Havila
Subsidiaries"), currently owns 98,792,149 shares in Fjord1 ASA ("Fjord1"),
representing approximately 98.8% of Fjord1's share capital and voting rights.

The board of directors of Havila Holding AS and the board of directors of
Havilafjord AS have pursuant to Section 4-25 of the Norwegian Public Limited
Companies Act resolved to carry out a compulsory acquisition of all the
remaining shares in Fjord1 not already owned by the Havila Subsidiaries or
Fjord1 (the "Minority Shares"), effective from end of trading on Oslo Stock
Exchange on 28 July 2021. The compulsory acquisition will be carried out by
Havilafjord AS, being the direct parent company of Fjord1.

The offered redemption price for each Minority Share is NOK 52, which is the
same price at which Havilafjord AS has purchased shares in bilaterally
negotiated transactions as announced on 7 July 2021 and in transactions in the
market thereafter. 

The full redemption amount will be placed on a separate bank account in
accordance with Section 4-25 of the Norwegian Public Limited Liability Companies
Act.

After end of trading on Oslo Stock Exchange on 28 July 2021, the rights and
ownership of the Minority Shares will automatically be transferred to
Havilafjord AS. Accordingly, Havila Holding AS will thereafter be the beneficial
owner of 100% of the shares in Fjord1 (other than treasury shares held by Fjord1
itself) through the Havila Subsidiaries.

Any objections to, or rejection of, the offered redemption price must be made no
later than on 30 September 2021. Former shareholders of Fjord1 who do not object
to, or reject, the offered redemption price within this deadline, will be deemed
to have accepted the offered price. A letter regarding the compulsory
acquisition will be sent to all former shareholders of Fjord1 whose addresses
are known and whose shares have been acquired by way of the compulsory
acquisition. In addition, the compulsory acquisition will be announced in the
Brønnøysund Register Center's electronic publication. 

Settlement of the offer price to the minority shareholders will take place on or
about 4 August 2021.

As a result of the compulsory acquisition, Havila Holding AS will pursue a
de-listing of the shares in Fjord1 from Oslo Stock Exchange. A separate stock
exchange announcement will be published regarding such delisting.