Aker BP

Capital/Financing Update • Oct 14, 2016

Oslo, 14 October 2016

AKERBP: Proposed amendments to DETNOR02 Bond Agreement approved

Reference is made to the stock exchange notice from Aker BP ASA ("Aker BP" or "the company") on 30 September 2016 concerning the summons to a bondholders' meeting in the DETNOR02 bond loan to request certain amendments to the bond agreement.

The bondholders' meeting in DETNOR02 has now been held. The requested amendments to the loan agreement were approved in accordance with the proposal made by the company in the summons. The proposed resolution obtained 94.41% of the votes.

The effective date of the new loan agreement is 14 October 2016. The notice from bondholders' meeting is attached in this stock exchange notice.

Contacts:

Investor contact: Jonas Gamre, VP Investor Relations, tel.: +47 971 18 292 Media contact: Geir Bjørlo, Corporate Communications, tel.: +47 915 40 000

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, Skarv, Valhall, Hod, Ula and Tambar, in addition to the Ivar Aasen field development. 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.