Fosnavåg, 27 August 2026: HAV Group ASA (OSE: HAV) delivered a solid second
quarter with revenue of NOK 267.3 million, an increase of 38 percent from the
same quarter last year (Q2 2025: NOK 193.3 million). The quarterly
EBITDA*-result improved to NOK 17.3 million (4,1 million), equivalent to a
margin of 6.5% (2.1%).  

"We are pleased to deliver a solid quarter, both compared to previous periods
and the same quarter last year. We therefore reiterate our positive guidance for
2026," says Gunnar Larsen, CEO of HAV Group.  

HAV Group's order intake in the second quarter was NOK 35 million (215). The
group's order backlog stood at NOK 826 million (1,288) at the end of June, with
the majority scheduled for execution in 2026.  

"Order intake in the period was low, but all our business segments are
experiencing healthy tender activity and are awaiting clarifications on multiple
tenders during the second half of the year. I therefore remain optimistic about
increasing our order intake going forward," adds Gunnar Larsen.  

Similar to previous quarters, it is HAV Group's business segment for energy
design and smart control systems that is the main driver for the group's
improved financial results. This business segment enhanced revenue by 58% and
EBITDA by 147% compared to the second quarter last year.  

The business segments for ship design and water treatment systems both had
another quarter with negative EBITDA-results.  

"Higher volumes of work are required to return to positive EBITDA for our ship
design and water treatment systems businesses. Winning new projects is therefore
their top priority. We are targeting both our traditional core segments as well
as opportunities in new segments to expand our total addressable market," adds
Gunnar Larsen.  

HAV Group reported revenue of NOK 267.3 million (193.3) in this year's second
quarter. EBITDA was NOK 17.3 million (4.1), equivalent to a margin of 6.5%
(2.1%). Net profit was NOK 8.8 million (2.0). Net cash flow was 102.4 million
(46.1), mainly because of significant decrease in accounts receivables, of which
some were deferred from the first quarter. HAV Group has no interest-bearing
debt.  

FIRST-HALF 2026 FINANCIAL RESULTS 

For the first half of the year, HAV Group delivered revenue of NOK 500 million,
up 46% from 341.3 million the prior year. EBITDA was NOK 29.1 million, compared
to NOK 4.5 million in the first half of 2025. The EBITDA-margin improved by 4.5
percentage points to 5.8% in the first half of 2026. Net profit was NOK 13.1
million in the first half of 2026, versus NOK -0.5 million in the same period
last year.  

OUTLOOK 

The green transition, stricter regulations, and increasing competition continue
to shape the maritime industry. In Europe, EU-regulations reward shipowners who
invest in emission-reducing technologies and penalise those who don't. HAV Group
is well positioned to capitalise on this trend with technologies that enhance
vessel operations, profitability, and environmental performance. 

While geopolitical uncertainty and tariff issues create headwinds, the global
shipbuilding market is predicted to remain at a stable level in the coming
years. Electrification is a key driver for making vessels more energy efficient
and for reducing emissions while the industry awaits large-scale adoption of
alternative fuels. This electrification trend is expected to grow significantly
in the years ahead, across vessel segments. This will create substantial market
opportunities for HAV Group. 

The positive development seen in 2025 is expected to continue throughout 2026,
and HAV Group anticipates both revenue growth and improved EBITDA margin versus
last year.  

STRATEGIC REVIEW	 

On 30 April 2026, HAV Group announced that it has initiated a review that
involves exploring strategic opportunities for the group. The process is
proceeding as planned. HAV Group will update the market with any relevant
information on the process in due course, but would like to emphasize that there
is no guarantee that the process results in a specific strategic outcome.   

Q2/H1 2026 PRESENTATION  

HAV Group will present its second quarter and half-year 2026 financial results
via webcast today at 08:00 CET. The presenters are CEO Gunnar Larsen and CFO Pål
Aurvåg. 

Link to webcast: https://youtube.com/live/eww6nhRlqis  

Questions can be submitted during the webcast. However, questions submitted in
advance via the link will have better chance of being answered. Questions can be
submitted through this URL: https://www.menti.com/alhob5e89wd2 

The presentation material and half-year 2026 report are enclosed to this
announcement.  

*EBITDA and other alternative performance measures (APMs) are defined and
reconciled to the NGAAP financial statements as a part of the APM section of the
annual report. 

(ENDS) 

For additional 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. 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Daniel Kopperstad, Head of Legal Affairs, on 27
August 2026 at 07:00 CET. 
ian Securities Trading Act. This stock exchange\
announcement was published by Daniel Kopperstad\, Head of Legal Affairs\, on 27\
August 2026 at 07:00 CET. \