HAV Group ASA today announces the signing of a letter of intent for the
acquisition of Høglund Marine Solutions AS (Høglund Marine Solutions), a leading
provider of sustainable marine technologies and services.

"The potential acquisition of Høglund Marine Solutions will enhance our
portfolio of marine technologies and services and holds a strong strategic
rationale. We have worked with the highly skilled Høglund team for years and see
a significant potential in our combined international offering in the future,"
says Gunnar Larsen, Chief Executive Officer of HAV Group. 

HAV Group has entered into an exclusive letter of intent for the acquisition of
Høglund Marine Solutions. The company is a leading provider of sustainable
automation services and LNG fuel gas systems to the global marine industry. The
company has approximately 90 employees and had revenues in excess of NOK 380
million in 2021.

"A business combination with Høglund Marine Solutions unleashes a potential for
major synergies. There is a strong strategic fit for our subsidiary Norwegian
Electric Systems with complementary expertise, technology and products,
especially in the global market of energy-saving digital solutions for power and
automation. In addition, we see a very exciting opportunity for HAV Hydrogen to
utilize Høglund's fuel gas technology to provide tomorrow's energy systems. We
believe a combined entity of HAV and Høglund will significantly strengthen our
revenue and margin potential in the long term," Larsen concludes.

The transaction remains subject to customary due diligence.

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

About HAV Group | www.havgroup.no 
The HAV Group is an international provider of technology and services for
maritime and marine industries, listed on Euronext Growth under the ticker code
HAV. The group comprises four subsidiaries with several decades of combined
experience in the industry, in addition to special expertise in guiding the
marine and maritime industries through the green shift and towards the goal of
zero emissions.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock
exchange announcement was published by Daniel Kopperstad, Head of Legal Affairs
in HAV Group ASA, at 08:00 CET, 29 June 2022.