27 February 2025 - HAV Group's water treatment subsidiary has been subcontracted
by Eyvi to deliver its UV- and filter-based water treatment system to Artic
Seafarm's land-based salmon farming facility in North Norway. 

This contract is the subsidiary's breakthrough award within land-based
aquaculture. However, the technology that will be applied has been proven for
many years on board approximately 800 vessels where it disinfects seawater of
much stricter requirements. 

Reference is made to the stock exchange announcement dated 22 November 2024
about the subsidiary being in the final stage of contract negotiations for the
project.

"This is our breakthrough contract within large scale land-based fish farming,
but our technology is already installed on board more than 30 wellboats. We are
highly familiar with the Norwegian aquaculture industry's technological and
biological requirements," says Børge Gjelseth, SVP Commercial at HAV Group's
subsidiary for water treatment systems.

Under the contract, the company will deliver its energy efficient UV- and
filter-based water treatment technology as a subcontractor to Eyvi, who has been
charged with supplying a complete hybrid flow-through/re-use system for Arctic
Seafarm's land-based aquaculture facility at Nesna, North Norway. 

The system will be utilised to filter and disinfect seawater before it enters
the land-based salmon farming facility. The company will provide nine individual
UV- and filter-based systems, one for each of the nine inlets that will provide
the fish tanks with clean seawater. 

Deliveries will be made in the second half of 2025 and early in 2026. The
contract is valued at slightly below NOK 20 million. 

"We have previously stated that we believe that the aquaculture industry in
general, and the land-based sector specifically, will represent substantial
growth opportunities for numerous HAV Group companies going forward. This
contract is another confirmation of this," says Gunnar Larsen, CEO of HAV Group
ASA. 

HAV Group's contract party is Norwegian Greentech AS, which is a supplier of
treatment system for ballast water and water treatment systems for traditional
ocean-based fish farming and the land-based aquaculture industry.

(ENDS)

For more 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.