Aker BP

Major Shareholding Notification • Jul 28, 2022

Conversion stop in Aker BP SDRs

We hereby inform that from 10 August 2022 until 30 August 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 8 August 2022.

Unsettled instructions will be cancelled and the shares transferred back to the client´s custody account, without charge, on 12 August 2022.

As from 30 August 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
• Conversion is free of charge until 10 August 2022. As per the information provided above, this means the deadline for requesting conversion free of charge will be 8 August 2022. Thereafter, a conversion fee of currently up to SEK 2,500 will be charged for each conversion by SEB and Euroclear Sweden.

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

Contacts:

Kjetil Bakken, VP Corporate Finance and Investor Relations, tel.: +47 918 89 889 Jørgen Torstensen, Senior Investor Relations Professional, tel.: +47 954 83 707

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.