Akastor - Capital/Financing Update 2023

Akastor ASA: Successful placement of new USD 200m senior secured bonds by HMH

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

today successfully completed a USD 200 million senior secured bond issue with a

tenor of 3 years and a fixed coupon of 9.875 % per annum (the "Bonds").

Reference is made to Akastor's stock exchange notice on 30 October 2023.

The net proceeds from the Bonds will be applied towards (i) settlement in full

of HMH's existing USD 150 million senior secured bond issue with ISIN

NO0012428996 ("HMHH01"), (ii) full repayment of existing bank borrowings, and

(iii) general corporate purposes. HMH intends to seek for listing of the Bonds

on Oslo Børs.

For further details reference is made to the separate announcement issued by HMH

and which is available on HMH's website: https://hmhw.com/investors/

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

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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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