Akastor

Akastor ASA: Odfjell Drilling Ltd shares received pursuant to Warrant Agreement

Akastor ASA's (OSE: AKAST) subsidiary Akastor AS has today received 3,023,886

shares in Odfjell Drilling Ltd. (OSE:ODL), pursuant to a warrant investment

agreement that was entered into in 2018. The subscription price paid for the

shares was USD 0.01 per share. Reference is made to Akastor's announcement 27

April 2018.

The shares received represent a total value of NOK 169 million based on ODL

share price at close of trading Thursday 30 May 2024.

The warrant structure carried a book value of NOK 56 million per end of Q1 2024,

which will be replaced by the fair value of the received shares in Odfjell

Drilling in Akastor's Q2 2024 financials.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

This information is subject to the disclosure requirements pursuant to Section 5

-12 the Norwegian Securities Trading Act.

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Akastor is a Norway-based oil-services investment company with a portfolio of

industrial holdings and other investments. The company has a flexible mandate

for active ownership and long-term value creation.

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