Akastor - Capital/Financing Update 2023

Akastor ASA: HMH mandate announcement and contemplated bond issuance

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

today announced that it has mandated DNB Markets and Nordea as Global

Coordinators and Joint Bookrunners and Arctic Securities and Pareto Securities

as Joint Bookrunners to arrange a series of fixed income investor meetings, with

the intention of seeking to secure a senior secured bond loan.

The net proceeds from the contemplated senior secured bond issue will inter alia

be used to refinance the Company's existing senior secured bond maturing 10

February 2025 which is listed with ISIN NO0012428996 ("HMHH01").

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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