Aker BP

Share Issue/Capital Change • Oct 24, 2022

Conversion stop in Aker BP SDRs

We hereby inform that from 28 October 2022 until 8 November 2022 it will not be possible to execute CBT (Cross border transaction) to/from Sweden to convert Aker BP SDRs (ISIN SE0017486566) to ordinary Aker BP shares (ISIN NO0010345853) because of the record date for the upcoming dividend payment.

Last date to instruct to initiate a conversion will therefore be 24 October 2022.

Unsettled instructions will be cancelled and the shares transferred back to the client´s custody account, without charge, on 28 October 2022.

As from 9 November 2022 it will be possible to send CBT instructions again. Please observe that trade-/settlement date can only be from this date and can not be historical.

Information to holders of Aker BP SDRs

• The Aker BP SDRs have been issued in connection with Aker BP's acquisition of Lundin Energy's oil and gas business.
• Each SDR represents an ownership interest in one ordinary share in Aker BP. The underlying ordinary shares in Aker BP are deposited with SEB.
• The SDRs are not listed on any stock exchange. The shares in Aker BP are listed on Oslo Børs (LINK).
• The SDR programme is a temporary solution which will be terminated in July 2023. The underlying ordinary shares in Aker BP will then be sold in the market, and the net proceeds will be paid pro rata to the holders of the remaining SDRs.
• Dividends to SDR holders will be suject to the maximum withholding tax rate in Norway of 25 percent. Dividends to holders of ordinary shares will in many cases be subject to a lower withholding tax rate, which can be found here: Withholding tax rates on dividends from Norway

More information can be found here: Information to Lundin shareholders - Aker BP

Contacts:

Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889

About Aker BP:

Aker BP is an independent E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Edvard Grieg, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker 'AKRBP'. More about Aker BP at www.akerbp.com.