Aker BP

M&A Activity • Oct 17, 2022

Merger plan signed with wholly owned subsidiary

Merger plan signed with wholly owned subsidiary

Reference is made to previous announcements regarding the consolidation of

former Lundin Energy subsidiaries into Aker BP ASA ("Aker BP").

As a next and final step, a merger is proposed between Aker BP as the surviving

entity and ABP Norway AS ("ABPN"), a wholly owned Norwegian subsidiary. The

proposed merger will be executed without any consideration in accordance with

simplified rules on parent-subsidiary mergers. Upon completion of the merger,

Aker BP will assume all assets, rights and obligations of ABPN without

consideration, and ABPN will simultaneously be dissolved.

The boards of directors of Aker BP and ABPN have now signed a joint merger plan

for the proposed merger which is available on https://akerbp.com/en/abp-merger

-plan/.

The proposed merger plan will be finally approved by the board of directors of

Aker BP on or about 17 November 2022.

Contact:

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.