Akastor — Earnings Release 2015

Feb 17, 2016

Akastor ASA: Correction - Akastor ASA: Fourth Quarter and Preliminary Annual Results 2015

Akastor ASA: Correction - Akastor ASA: Fourth Quarter and Preliminary Annual Results 2015

CORRECTION: NOTES ADDED TO QUARTERLY REPORT

- Real estate portfolio sold for NOK 1 243 million

- Balance sheet strengthened; net debt reduced by NOK 1.5 billion to NOK 4.9

billion, working capital decreased by NOK 581 million, liquidity reserve of NOK

2.6 billion

- Weak market conditions continue across the portfolio, significant cost

reductions initiated

- EBITDA of NOK 552 million, including special items of NOK 321 million

- Impairment of NOK 615 million, mainly related to Managed Pressure Operations

(MPO)

- Secured commitment for refinancing in January 2016

- Frontica secured five year contract with Aker Solutions in February 2016

Contact Information

Tore Langballe

Head of Communication

and Investor Relations

Tel: +47 21 52 58 10

E-mail: tore.langballe@akastor.com

Visiting Address: Oksenøyveien 10,

NO-1366 Lysaker, Norway

For more information, please visit

www.akastor.com/investors

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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