2 March 2025 - HAV Group's ship design business has been awarded a contract to
provide design and engineering services for the upgrade of a previously designed
vessel. 

Several years after entering service, the undisclosed vessel will now be
upgraded with the latest technology solutions to further boost its operational
efficiency. 

"To be able to contribute towards further enhancing the efficiency of this
vessel, several years after we originally designed it, is a special moment for
us," says Richard Schofield, managing director of HAV Design. 

HAV Group's contract party is HAV Design, which is headquartered in Fosnavåg,
Norway. A design and engineering services project of this complexity typically
generates between NOK 10 and 20 million in revenue.

"Converting and refitting vessels have become a financially and operationally
attractive opportunity for vessel owners. Besides newbuild vessels, this opens
further market opportunities for our ship design business. Additionally, this
contract positions HAV Design for further conversion and upgrade work and
ensures improved utilisation of our design and engineering specialists," says
Gunnar Larsen, CEO of HAV Group. 

(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.