Aker BP

Capital/Financing Update • Apr 8, 2022

Credit rating upgrade

Credit rating upgrade

Aker BP is pleased to announce that S&P Global Ratings today has upgraded its

rating of Aker BP and its unsecured notes to 'BBB' with stable outlook. The

previous rating was 'BBB-' with positive outlook.

"We are pleased to receive this upgrade from S&P, which we see as a recognition

of Aker BP's financial performance, balance sheet resilience and capital

discipline," says David Tønne, Chief Financial Officer in Aker BP.

Contacts:

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

Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217

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, 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.

This information is subject to disclosure requirements pursuant to section 5-12

of the Norwegian Securities Trading Act.