1 March 2024 -HAV Group's ship design business has today signed a contract to
design and develop four newbuild, autonomous zero-emission ferries that will
operate the Lavik-Oppedal crossing on the northwest coast of Norway. 
Reference is made to the stock exchange announcement dated 18 October 2023
announcing that Fjord1 had committed to utilise HAV Group as technology partner
and key supplier to the four ferries.
 
Under the contract signed today, HAV Group's ship design business will deliver
ship design and an engineering package for all four autonomous ferries. 

"When these four ferries have been delivered, we will have designed 18
electrical ferries for Fjord1. While this is a notable number, the environmental
and technological profile for these four newbuild ferries represent a major step
into the future. Being allowed to design and develop such highly innovative
ferries is a proud moment for us," says Jan Magne Goksøyr, vice president sales
at HAV Group's ship design business. 

The ship design is based on a future-oriented operating concept that ferry
operator Fjord1 has developed together with HAV Group. The ferries will be able
to operate with autonomous navigation and a high degree of automation of vessel
functions that replace manual operations on board and on land.

Lavik-Oppedal is a ferry route that crosses the Sognefjord, on the northwest
coast of Norway, from Lavik in Høyanger municipality to Ytre Oppedal in Gulen
municipality. The ferry crossing takes 20 minutes and the route is 5.6
kilometres long. 

Four newbuild zero emission ferries will operate the route from 1 September 2026
onwards. 

"For a group that prides itself on being an enabler of green transition at sea,
this contract is obviously a perfect strategic fit for us. We are still at the
early adopter stage of autonomous sailing capabilities and automation of vessel
functions, so this market is expected to grow considerably in the coming years
and decades. This contract puts us in pole position to capitalize on this market
growth," says Gunnar Larsen, CEO of HAV Group ASA. 

HAV Group's contract party is HAV Design AS, which is headquartered in Fosnavåg,
Norway. The vessels will be built at [name of shipyard in Turkey] which is HAV
Design's contract partner for the four newbuilds. 

Further, HAV Group has previously announced that its energy and smart control
business is expected to act as system integrator and provide complete system
deliveries for power system, automation and bridge, two onshore charging
stations, and systems for automation of vessel functions and autonomous
navigation. Information about additional contracts will be shared in due course.
When all relevant agreements have been signed, HAV Group will indicate the total
effect on the group's order book from these agreements. 

(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.