Havilafjord AS entered into agreement to acquire additional 4.7% stake in Fjord1 ASA (OB:FJORD) from independent third party sellers for approximately NOK 250 million on July 7, 2021. Under the terms, consideration is NOK 52 per share. The transactions are conditional upon completion of a contemplated refinancing of Havilafjord AS' bond loan Havilafjord AS 18/23 FRN FLOOR C (the "Havilafjord Bond"), expected to be completed on or about July 8, 2021. Havilafjord AS is also in the process of acquiring 3.9 million shares in Fjord1 ASA from Runde Holdco AS at a price of NOK 52 per share. Following completion of the acquisitions set out above, Havila Holding AS will through its subsidiaries Havilafjord AS, Havilafjord Holding AS and Havilafjord Holding 2 AS, control a total of 93,546,095 shares in Fjord1 ASA, equal to ~93.55% of the total number of shares and votes in Fjord1 ASA, and consequently crossing the 90% disclosure threshold. The share purchases will not trigger any mandatory offer obligations for the remaining shares in Fjord1 ASA, but shareholders interested in selling their shares in Fjord1 ASA to Havilafjord AS at a price of NOK 52 per share. Havilafjord AS completed the acquisition of additional 4.7% stake in Fjord1 ASA (OB:FJORD) from independent third party sellers on July 26, 2021. The board of directors of Havila Holding AS and the board of directors of Havilafjord AS have pursuant to Section 4-25 of the Norwegian Public Limited Companies Act resolved to carry out a compulsory acquisition of all the remaining shares in Fjord1 not already owned by the Havila Subsidiaries or Fjord1 (the "Minority Shares"), effective from end of trading on Oslo Stock Exchange on July 28, 2021. The compulsory acquisition will be carried out by Havilafjord AS, being the direct parent company of Fjord1. 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 July 7, 2021 and in transactions in the market thereafter.