30 April 2024 - HAV Group ASA today publishes its annual report for 2023 and the
group's second sustainability report. Both reports are enclosed to this
announcement. 

"Financially, 2023 was another transitional year - especially the second half.
However, instead of cutting costs, we utilised excess capacity in projects that
were aimed at improving the group's competitive position to be able to fully
capitalise on the forthcoming growth opportunities. This proved to be a wise
decision, as we won multiple new contracts towards the end of 2023 and in early
2024. At year-end 2023, our external order backlog was 25% higher than when we
entered the year, reflecting both an improved marked and our competitive edge.
This order backlog provides us with good visibility for 2024," says Gunnar
Larsen, CEO of HAV Group. 

HAV Group's revenue was NOK 617.1 million in 2023 (2022: 621.8), with EBITDA of
NOK 9.1 million (19.8), and EBIT of NOK -7.9 million (2.0). The reported EBITDA
and EBIT for 2023 are approximately NOK 7 million lower than the preliminary
full-year financial numbers presented in the fourth quarter 2023 financial
report. The deviation is caused by a loss provision as a consequence of change
of supplier related to critical supply in an ongoing project.

SUSTAINABILITY STRATEGY AND REPORT

Sustainability is an integral part of HAV Group's overall strategy. The business
is founded on providing shipowners with technologies, products, systems and
services that allow them to realise both the financial and environmental
benefits associated with low and zero emission shipping. 

"In 2023 we started a process to revise our sustainability strategy, involving
all subsidiaries to help redefine our key goals, commitments and priorities
going forward. HAV Group's sustainability strategy supports and aligns with our
business strategy. Our second sustainability report explains how we are
continuously working to support the maritime industry in moving from visions to
actions, and how we manage our own group's impact on people, society and the
environment," adds Gunnar Larsen. 

Through HAV Group's second sustainability report, which is prepared in
accordance with the 2021 GRI Standards, the company aims to inform stakeholders
about its approach and performance on key environmental, social and governance
(ESG) topics. 

(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.