Akastor

Akastor ASA: Award of shares under variable pay program

Fornebu, 20 January 2025 - Akastor ASA (OSE: AKAST) (the "Company") has today

awarded 372 105 shares under the Company's variable pay program to those

employees who elected payment in shares.

In accordance with the terms and conditions of the program, the number of shares

awarded was calculated based on the Company's average volume weighted share

price on Euronext Oslo Børs over the three last trading days up to and including

17 January 2025, being NOK 12.9577 per share, less a 18 per cent discount due to

the shares being subject to a two-year lock-up period from the date of delivery.

The following primary insiders were awarded shares under the program:

Karl Erik Kjelstad (CEO), was through his company Byesvollen AS awarded 162 285

shares and now owns a total of 862 285 shares.

Øyvind Paaske (CFO) was awarded 70 026 shares and now holds a total of 205 109

shares.

Eirik Thomassen (EVP & General Counsel) was awarded 47 373 shares.

Please see attached notifications for persons discharging managerial

responsibilities in Akastor in accordance with Regulation EU 596/2014 (MAR)

article 19.

Following the transaction, Akastor ASA holds a total of 1 441 869 own shares.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

This information is subject to the disclosure requirements pursuant to

Regulation EU 596/2014 (MAR) article 19, cf. section 5-12 of the Norwegian

Securities Trading Act.

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Akastor is a Norway-based oil-services investment company with a portfolio of

industrial holdings and other investments. The company has a flexible mandate

for active ownership and long-term value creation.

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