Akastor - Capital/Financing Update 2022

Akastor ASA: HMH mandate announcement and contemplated bond issuance

Akastor ASA's (OSE: AKAST) 50% owned affiliate HMH has today mandated DNB

Markets, Nordea, Pareto Securities and SEB as joint lead managers to arrange a

series of fixed income investor calls commencing Monday 17 January. A 3-year USD

-denominated senior secured bond issue with an expected size of minimum USD 150

million may follow, subject to inter alia market conditions.

The net proceeds from the contemplated bond issue will be used by HMH for

repayment of a bridge loan under its current loan facilities as well as for

general corporate purposes.

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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