Aker BP

Capital/Financing Update • Nov 7, 2018

Update on financing

Reference is made to Aker BP's acquisition of Hess Norge in 2017. In relation to this acquisition, the company obtained a USD 1.5 billion bank facility secured by pledge in the shares of Hess Norge AS. The terms of the bank facility stipulated that a settlement of the tax losses in Hess Norge would trigger a mandatory repayment of the facility. The company has now been informed by Norwegian tax authorities that such settlement will take place by the end of November 2018. The bank facility will subsequently be repaid in full.

Contacts:

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

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 'AKERBP'. 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.