Aker BP

Capital/Financing Update • Feb 4, 2021

Moody's upgrades Aker BP to Baa3 with stable outlook

Moody's upgrades Aker BP to Baa3 with stable outlook

Aker BP is pleased to announce that Moody's Investor Service today has upgraded

its long-term issuer rating of Aker BP from Ba1 to Baa3 with stable outlook.

With this assignment, Aker BP is now investment grade rated by S&P Global

Ratings, Fitch Ratings and Moody's Investor Service, all with stable outlook.

Contacts:

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

John Ole Hægeland, VP Corporate Finance, tel.: +47 906 06 169

About Aker BP:

Aker BP is a fully-fledged 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.