Summary Freight revenues amounted to NOK 135.5 million in Q4 2025, a decrease of NOK 12.5 million compared to the corresponding period last year and a decrease of NOK 13.8 million compared to the previous quarter. The average rate of assignments and utilization in this quarter is lower than the previous quarter. One vessel has operated in the spot market in Q4 with 49% utilization. Operating expenses were NOK 91.1 million in Q4 2025, an increase compared to Q4 2024 of NOK 3.4 million and an increase compare ...

Core Viewpoint - The company is currently in a legal dispute with DNB Bank ASA, Swedbank AB, and Danske Bank A/S regarding alleged breaches of a restructuring agreement, which the company disputes, asserting that the banks are obligated to convert certain debts into shares as per the agreement [1][2]. Group 1: Legal Dispute - The company filed a lawsuit with Oslo District Court on 24 March 2025 to resolve the dispute with the three banks [3]. - On 8 December 2025, the Oslo District Court ruled against the company, but the judgment is not final, and the company plans to appeal by the deadline of 19 January 2026 [4]. Group 2: Financial Obligations - The banks have demanded prepayment of outstanding amounts under the restructuring agreement and indicated intentions to take legal action to enforce their security [5]. - As of 30 September 2025, the banks' outstanding debt includes interest-bearing debt of NOK 130.8 million and non-interest-bearing B-tranche debt with a nominal value of MNOK 595.1, along with claimed interest and default interest of MNOK 7.9 [6]. Group 3: Company Position - The company maintains that the banks' claims are unfounded and will dispute the grounds for enforcing security and establishing execution liens [6]. - The company intends to seek compensation for any losses incurred due to the banks' actions and their failure to convert the B tranches upon the expiration of the restructuring agreement on 31 December 2025 [7].

Core Viewpoint - The company intends to appeal the judgment made by the Oslo District Court regarding its lawsuit against DnB Bank ASA, Danske Bank AS NUF, and Swedbank AB (publ) [1][2] Group 1: Legal Proceedings - The Oslo District Court has delivered a judgment against the company in its case [1] - The company disagrees with the court's ruling and plans to appeal the decision by January 2026 [2] Group 2: Company Contacts - The Chief Executive Officer, Njål Sævik, can be contacted at +47 909 35 722 [2] - The Chief Financial Officer, Arne Johan Dale, can be reached at +47 909 87 706 [2]

Core Points - Equinor Energy has exercised a one-year option for the Havila Foresight (PSV) until January 2027 [1] - There is an additional option for one more year, extending the contract until January 2028 [1] Company Information - Chief Executive Officer: Njål Sævik, contact number +47 909 35 722 [1] - Chief Financial Officer: Arne Johan Dale, contact number +47 909 87 706 [1] Regulatory Compliance - The information is disclosed in accordance with Section 5-12 of the Norwegian Securities Trading Act [1]

Core Points - Equinor Energy has exercised a one-year option for the Havila Foresight (PSV) until January 2027 [1] - There is an additional option for one more year, extending the contract until January 2028 [1] Company Information - Chief Executive Officer Njål Sævik can be contacted at +47 909 35 722 [1] - Chief Financial Officer Arne Johan Dale can be reached at +47 909 87 706 [1] Regulatory Compliance - The information is disclosed in accordance with Section 5-12 of the Norwegian Securities Trading Act [1]

Core Points - Equinor Energy has exercised a one-year option for the Havila Charisma vessel, extending the contract until December 2026 [1] - There is an additional option for one more year, which can extend the contract until December 2027 [1] Company Information - The Chief Executive Officer of Equinor Energy is Njål Sævik, and the Chief Financial Officer is Arne Johan Dale [1] - Contact information for the executives is provided for further inquiries [1] Regulatory Compliance - The information disclosed is subject to the requirements of Section 5-12 of the Norwegian Securities Trading Act [1]

Core Insights - The company reported freight revenues of NOK 149.3 million in Q3 2025, reflecting an increase of NOK 8.5 million year-over-year but a decrease of NOK 16.2 million from the previous quarter [1] - Operating expenses for Q3 2025 were NOK 84.1 million, up NOK 2.9 million from Q3 2024, remaining stable compared to the previous quarter [2] - The profit before tax for Q3 2025 was NOK 9.0 million, an increase from NOK 3.3 million in Q3 2024 [3] Financial Performance - Total operating income for Q3 2025 was NOK 156.7 million, compared to NOK 150.2 million in the same quarter last year [9] - The operating profit before depreciation was NOK 72.5 million in Q3 2025, up from NOK 69.0 million in Q3 2024 [2][9] - The company experienced a value adjustment of debt amounting to NOK 38.7 million in Q3 2025, compared to NOK -30.5 million in the corresponding period last year [2][9] Fleet and Operations - As of September 30, 2025, the company operated 14 vessels, with a fleet utilization rate of 95.3% in Q3 2025 [3][12] - The company employed 407 seamen on its vessels and in management as of Q3 2025 [12] Balance Sheet and Liquidity - Total current assets as of September 30, 2025, were NOK 301.9 million, with bank deposits of NOK 149.7 million [6] - The total long-term debt on the balance sheet was NOK 544.2 million, including NOK 499.6 million in loans from the sister company Havila Finans AS [8] - The book value of the fleet was NOK 1,173.1 million as of September 30, 2025 [7]

Core Points - Havila Shipping ASA has signed a new contract with Peterson Den Helder BV for the PSV Havila Borg on market terms [1] - The contract is a continuation of an existing agreement and is firm until late fourth quarter 2026, with options for extension up to two years [1] Company Summary - The new contract reinforces Havila Shipping ASA's ongoing relationship with Peterson Den Helder BV [1] - The firm period of the contract provides stability and predictability for the company's operations until late 2026 [1] - The potential for a two-year extension indicates confidence in the company's service offerings and market position [1]

Core Insights - Equinor Energy has exercised a one-year option for the Havila Troll, extending its contract until November 2026 [1] - The company holds three additional one-year options for the Havila Troll [1] Company Summary - Equinor Energy is actively managing its contracts by extending the duration for the Havila Troll, indicating a strategic approach to its operational assets [1] - The extension until November 2026 reflects the company's commitment to maintaining its fleet and operational capabilities in the energy sector [1]

Financial Performance - Freight revenues for Q2 2025 reached NOK 165.5 million, an increase of NOK 19.5 million compared to Q2 2024, and stable compared to the previous quarter [1] - Operating expenses in Q2 2025 were NOK 83.7 million, up NOK 9.2 million from Q2 2024, but down NOK 7.3 million from the previous quarter [1] - Profit before depreciation was NOK 91.3 million in Q2 2025, compared to NOK 78.4 million in Q2 2024 [7] - Profit before tax for Q2 2025 was NOK 8.7 million, an increase from NOK 4.0 million in Q2 2024 [7] - Total operating income for the first half of 2025 was NOK 347.5 million, compared to NOK 279.0 million in the same period last year [7] Fleet and Operations - As of June 30, 2025, the company operated 14 vessels, with a fleet utilization rate of 98.1% in Q2 2025 [2][10] - The company employed 398 seamen in Q2 2025, along with 12 man-years in administration [10] Balance Sheet and Liquidity - Total current assets as of June 30, 2025, amounted to NOK 316.1 million, with bank deposits of NOK 155.1 million [5] - Total long-term debt was NOK 538.9 million, including NOK 499.6 million from sister company Havila Finans AS [8] - The nominal value of interest-bearing debt was NOK 637.3 million, while non-interest-bearing debt was NOK 602.1 million as of June 30, 2025 [9]