Aker Carbon Capture

Transaction in Own Shares • Dec 10, 2020

Aker Carbon Capture: Share purchase program and buyback of own shares

Aker Carbon Capture: Share purchase program and buyback of own shares

10 December 2020 - Aker Carbon Capture AS (“Aker Carbon Capture” or the “Company”) has implemented a share purchase program and offered participants the opportunity to purchase shares in the Company.

The 2020 share purchase program allows the participants to acquire shares in the Company for a trading value of up to 25 percent of their gross annual salary. A price reduction of 30 percent of the share price will apply in exchange for the purchased shares being subject to a three-year lock-up period. In addition, the employees are offered a general discount of up to NOK 5,000 on their total share purchase. The participants are responsible for the financing and upfront cash settlement of the purchases.

The subscription period for the program took place on 7 December to 9 December, 2020, following which the Company has received subscriptions for a gross amount of approximately NOK 1 859 258, including subscriptions from the following primary insiders of the Company:

• Pernille Brente, General Counsel

• Jon Christopher Knudsen, Chief Commercial Officer

• Erik Langholm, Chief Project Officer

• Valborg Lundegaard, Chief Executive Officer

• Jim Stian Olsen, Chief Technology Officer

The price per share in the program (the “Subscription Price”) will be based on the average volume-weighted price on Euronext Growth (Oslo) of the Company’s shares in the period from and including 10 December 2020 to and including 14 December 2020. Final number of shares will be allocated to participants on or about 15 December 2020, and the allocated shares are expected to be delivered to participants on or about 23 December 2020, subject to timely payment.

To settle subscriptions under the share purchase program, Aker Carbon Capture will purchase own shares on Euronext Growth (Oslo), in accordance with the authorization granted to the Board of Directors in the extraordinary general meeting held on 23 September 2020. The acquisition will be made in accordance with buy-back regulations set out in section 3-12 of the Norwegian Securities Trading Act. Based on subscriptions received in the share purchase program, the Company expect to purchase approx. 140,000 – 145,000 shares. The actual purchasing volume depends on the final Subscription Price. The buyback of shares will be initiated immediately and is expected to be completed on 14 December 2020.

ENDS

Contact:

Media and Investor Contact: Ivar Simensen, mob: +47 464 02 317, email: ivar.simensen@akerhorizons.com

About Aker Carbon Capture

Aker Carbon Capture is a pure-play, carbon capture company with solutions, services and technologies serving a range of industries with carbon emissions, including the cement, bio and waste-to-energy, gas-to-power and blue hydrogen segments. Aker Carbon Capture’s proprietary, carbon capture technology offers a unique, environmentally friendly solution for removing CO2 emissions. The company is majority-owned by Aker Horizons, an investment company dedicated to creating value and reducing emissions from renewable energy and decarbonization technologies.

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This information is subject to Euronext Growth (Oslo)'s disclosure requirements.

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject to Euronext Growth (Oslo)'s disclosure requirements. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.