HAV Group's subsidiary HAV Design has been contracted to deliver the ship design
and an integrated equipment package to the offshore wind service operation
vessel (SOV) it is developing for ESVAGT. The vessel will service offshore
windfarms in Ørsted's UK East Regional programme.

As per HAV Group's stock exchange announcement on 2 May 2022, HAV Design has
been chosen to design the vessel. In addition, HAV Design has now been
contracted to deliver an integrated equipment package including propulsion
system, engines, propellers and positioning system. The total contract value
including design is approximately NOK 200 million.
 
"ESVAGT is very well familiar with the ship design and the operational benefits
it brings. We are delighted with this this collaboration. We are aware of the
high standards that ESVAGT requires from their suppliers and we use this as a
benchmark to secure high-quality project execution, cost-efficiency and
reduction of project risks to a minimum," says Gisle Vinjevoll Thrane, vice
president of sales at Norway-based HAV Design.

The newbuild hybrid vessel is of HAV 833 SOV design. The vessel will be equipped
with methanol-electric propulsion system, including a battery pack that allows
very low to zero-emissions operations. 

The SOV will be 93 metres long and 19.6 metres wide and will accommodate up to
124 persons. 

Upon completion, the vessel will become an integral part of the operation and
maintenance of Ørsted's "UK East Regional programme", which includes the Horn
Sea Two Offshore Wind Farm offshore UK.

The main purpose of the SOV is to safely transfer technicians and spare parts to
and from wind turbines and offshore substations.

ESVAGT is a dedicated provider of safety and support at sea and a market leader
within offshore wind solutions. The company has a fleet of more than 40 vessels
and approximately 1,100 employees offshore and onshore. It is recognized as the
market leader and largest operator of SOVs in Europe.

"This is the 10th SOV that ESVAGT is developing together with HAV Design. The
long-term close cooperation with HAV Design will ensure the highest performance
and efficiency, and always based on Safety First," says Kristian Ole Jakobsen,
DCEO in ESVAGT. 

The HAV SOV designs has a well proven track record in the offshore wind industry
due to its operational benefits such as low fuel consumption, high operability
and workability, and with the highest comfort standard.

"As investments in the offshore wind industry is expected to grow substantially
in the coming years and decades, with additional vessel capacity required, we
expect to see increased interest in the vessel design going forward," adds
Vinjevoll Thrane.
 
HAV Design, which is a subsidiary of HAV Group ASA, listed on Euronext Growth
Oslo, is headquartered in Fosnavåg, Norway.

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.

About HAV Design
HAV Design is a global leader within energy-efficient and competitive ship
designs with zero emission ambitions. With a proven track record from more than
120 vessel designs, state-of-the-art know-how, and virtual design tools, HAV
Design accommodates sustainable solutions equipped to meet the environmental and
commercial requirements of the future.
 
Based on our Norwegian heritage, experience, quality focus and innovative
solutions, our insight provides our customers with a head start, increases their
competitiveness, and enables them to realize the green shift towards a
sustainable future at sea.

In addition, at HAV Ocean Lab we offer our customers a virtual test tank with
digital twins of ships and ocean areas, which is unique in a commercial context.
The goal is to minimize the environmental impact and increase our customers'
competitiveness.

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
at HAV Group ASA, at 07:00 CET, 9 May 2022.