19 January 2024 - Reference is made to the stock exchange announcement dated 8
January 2024. HAV Group's ship design business has been chosen to develop an
offshore wind service operation vessel (SOV) for international SOV operator and
owner ESVAGT. The final contract has now been signed with ESVAGT's chosen
shipyard in Turkey. 

Under the contract, HAV Group's ship design business will deliver both the ship
design and a large integrated equipment package including propulsion system,
engines, propellers and positioning system. One of the subcontractors for the
equipment package is HAV Group subsidiary Norwegian Electric Systems. The total
contract value is in excess of NOK 100 million. 

"This is the 12th SOV that we will develop together with ESVAGT, who pioneered
the use of SOVs back in 2010. We are well aware of ESVAGT's high quality
requirements and look forward to extending our long-standing close cooperation
with another newbuild SOV," says Gisle Vinjevoll Thrane, vice president of sales
at HAV Design.

The main purpose of the SOV is to safely transfer technicians and spare parts to
and from wind turbines and offshore substations. The SOV also provides
accommodation for technicians, welfare facilities, offices, workshops and
storage for turbine parts. 

The vessel will be built at Cemre Shipyard in Turkey. Once completed, the SOV
will support Vestas' operations on the Hollandse Kust West VI project in the
Dutch sector of the North Sea. 

"We are highly familiar with the challenges of getting personnel safely from
vessels to offshore wind turbines. That is also why we again nominate the design
of this high-profile SOV to HAV Design that we trust. We know this vessel design
well and the high-quality benefits it brings to customers and crews," says
Kristian Ole Jakobsen, ESVAGT's Deputy CEO.

ESVAGT is a provider of safety and support at sea and a market leader within
offshore wind solutions and oil and gas services. The company has a fleet of
more than 40 specialized vessels and approximately 1,300 employees offshore and
onshore. The company is recognized as the market leader and largest operator of
SOVs in Europe.

HAV Group's contract party is HAV Design AS, which is headquartered in Fosnavåg,
Norway.

(ENDS)

For further information, please contact:
Gunnar Larsen, CEO
gunnar.larsen@havgroup.no
+47 901 05 694

About HAV Group | www.havgroup.no 
HAV Group and its subsidiaries (together: "HAV Group") is an international
provider of technology and services for maritime and marine industries. HAV
Group has several decades of industry experience, in addition to special
expertise in guiding the marine and maritime industries through the green shift
and towards the goal of zero emissions. HAV Group ASA is listed on Euronext
Growth under the ticker code HAV.