Akastor - Capital/Financing Update 2022

Akastor ASA: Successful placement of new USD 150m senior secured bonds by HMH

Akastor ASA's (OSE: AKAST) 50% owned affiliate HMH Holding B.V. ("HMH") has

today successfully completed a USD 150 million senior secured bond issue with a

tenor of 3 years. Reference is made to Akastor's stock exchange message on 14

January.

Settlement date is set to 10 February 2022 and the bonds will be sought listed

on the Oslo Stock Exchange. The net proceeds from the bond issue will be used by

HMH for repayment of a bridge loan as well as for general corporate purposes.

DNB Markets, Nordea, Pareto Securities and SEB acted as joint lead managers in

connection with the bond issue.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

This press release may include forward-looking information or statements and is

subject to our disclaimer; see https://akastor.com.

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About HMH

HMH is a premier drilling solutions provider, which was formed as an independent

company in October 2021 through the merger of Baker Hughes' (NYSE: BKR) Subsea

Drilling Systems business and Akastor ASA's wholly owned subsidiary, MHWirth AS.

HMH combines integrated delivery capabilities, capital, renowned industry

expertise and delivers the full range of offshore drilling equipment products

and packages at scale. HMH aims to support the industry's transition toward more

energy-efficient solutions, as well as deploying technologies and service

solutions to make the sector more competitive through increased drilling

efficiency. Moreover, the Company's service and technology portfolio will be

utilized as a springboard for future growth, both within drilling services and

when pursuing opportunities towards adjacent industries such as renewables and

mining.

For further information, please visit homepage: https://hmhw.com/

About Akastor

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.

For further information, please visit homepage: https://akastor.com/

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