Fosnavåg, 21 October 2022: The board of directors of Havyard Group ASA has
decided to propose that the company changes name to Eqva ASA (new ticker: EQVA,
formerly: HYARD). The name change reflects the company's growth strategy and
marks its transformation to a fully integrated service company, which
contributes to green transition in maritime, power intensive and renewable
industries.

The name Eqva was formed by combining the letters "EQ", the starting point of
the words equal, equity and equality, and "va" the starting point of the word's
"variety" and "value" - words that reflects the company's strategic priorities.
The "VA" also brings association to the Norwegian word for "Water" (Vann),
signalling a company proud of its origin as a maritime company, and who wants to
use its over 100-year long history of expertise in its positioning.

"The world is changing rapidly, and we see strong macro trends that will boost
the demand for new digital and sustainable solutions. We aim to be a frontrunner
of these solutions and are well equipped to take advantage of the macro trends
with our variety of services. Also, the changing framework conditions create
opportunities for consolidation and re-engineering of industrial service
companies themselves. The company is well placed to take the lead, be a
responsible owner with an eternal investment perspective with the aim to
maximise financial return over time," says chair of the board, Even Matre
Ellingsen.

 "Over the last few years, our company has made significant steps forward. We
have expanded our service portfolio and positioned ourselves in industries where
we can make a difference by driving change towards a more sustainable future and
creating strong shareholder value. We continue our exciting transformation
towards being an active owner of fully integrated service companies in maritime,
power intensive and renewable industries. This evolution, combined with our
future ambitions, inspired the need to revisit our name and identity," says CEO
Erik Høyvik.

The new name will be proposed to shareholders in a resolution to an
Extraordinary General Meeting on 14 November 2022. Board members with ownership
representing abt. 80 percent of the shares, supports the proposal and will vote
in favour of the resolution.


About Eqva 
Eqva ASA (formerly known as Havyard Group ASA) is a knowledge-based active owner
of engineering, construction and service companies that contribute to the green
transition in maritime, power intensive and renewable industries. It aims to
become a fully integrated service and maintenance supplier for the Norwegian
land-based and maritime industry.

The group has a well-diversified product and market portfolio, and further
growth will be established through a combination of company-based development
and utilisation of synergies between the companies in the group.

Key companies in Eqva are BKS, Havyard Leirvik and Fossberg Kraft, which are all
highly respected and appreciated by their respective customers and partners.

Read more on www.havyard.com (soon to be: eqva.no)

For more information, please contact: 
Erik Høyvik, Chief Executive Officer: +47 916 83 173
Eirik Sævareid, Chief Financial Officer: +47 992 74 637