Fearnley Securities AS has received a conditional purchase order from a
subsidiary of Havila Holding AS (“Havila”), the indirect majority owner of
Fjord1 ASA (“Fjord1”, OSE: FJORD), to acquire a minimum of 11,650,000 shares in
Fjord1. The order is conditional upon the minimum number of shares being
tendered at a price accepted by Havila in its discretion, such price to be
determined through a reverse bookbuilding process. Havila is represented on the
board of directors of Fjord1 through Per Sævik and Vegard Sævik.

Havila has secured funding for the conditional purchase order from a financial
investor. Upon and subject to completion of the order, an agreement will enter
into force whereby Havila and such financial investor will be acting in concert
and jointly hold in excess of two-thirds of the outstanding shares and share
capital of Fjord1. The intention of the parties will be to develop Fjord1 into
an integrated transportation and tourism company, hereunder through a potential
consolidation with Havila Kystruten AS. Completion of the order will not trigger
any mandatory offer obligations.

The tendering process will commence as of publication of this notice and expire
on Tuesday 10 December at 08:30 CET, subject to early close or extensions. If
sales orders for more than the minimum purchase order are received, some or all
sales orders may be reduced at the sole discretion of Havila. Shareholders who
wish to sell shares should contact Fearnley Securities AS (contact person Peter
Wessel, direct tel. +47-22936379).