28 July 2021

Reference is made to the announcement published on 26 July 2021 regarding a
contemplated compulsory acquisition of shares in Fjord1 ASA.

As set out in the above mentioned announcement, Havila Holding AS, through its
wholly owned subsidiaries Havilafjord AS, Havilafjord Holding AS and Havilafjord
Holding 2 AS (together the "Havila Subsidiaries"), currently owns 98,792,149
shares in Fjord1 ASA ("Fjord1"), representing approximately 98.8% of Fjord1's
share capital and voting rights.

The compulsory acquisition by Havilafjord AS of all the remaining shares in
Fjord1 not already owned by the Havila Subsidiaries or Fjord1 (the "Minority
Shares") is now effective. 

The offered redemption price for each Minority Share is NOK 52, which is the
same price at which Havilafjord AS has purchased shares in bilaterally
negotiated transactions as announced on 7 July 2021 and in transactions in the
market thereafter. 

The full redemption amount has been placed on a separate bank account in
accordance with Section 4-25 of the Norwegian Public Limited Liability Companies
Act.

The rights and ownership of the Minority Shares will automatically be
transferred to Havilafjord AS. Accordingly, Havila Holding AS will from today be
the beneficial owner of 100% of the shares in Fjord1 (other than treasury shares
held by Fjord1 itself) through the Havila Subsidiaries.

Any objections to, or rejection of, the offered redemption price must be made no
later than on 30 September 2021. Former shareholders of Fjord1 who do not object
to, or reject, the offered redemption price within this deadline, will be deemed
to have accepted the offered price. A letter regarding the compulsory
acquisition will be sent to all former shareholders of Fjord1 whose addresses
are known and whose shares have been acquired by way of the compulsory
acquisition. In addition, the compulsory acquisition has been announced in the
Brønnøysund Register Center's electronic publication. 

Settlement of the offer price to the minority shareholders will take place on or
about 4 August 2021.

As a result of the compulsory acquisition, Havila Holding AS will pursue a
de-listing of the shares in Fjord1 from Oslo Stock Exchange. A separate stock
exchange announcement will be published regarding such delisting.

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© Oslo Bors ASA, source Oslo Stock Exchange