Akastor — Earnings Release 2019

Apr 11, 2019

Akastor ASA: MHWirth has been awarded contract for new drilling equipment package from Keppel FELS

Akastor ASA: MHWirth has been awarded contract for new drilling equipment package from Keppel FELS

MHWirth, a company owned by Akastor ASA, today signed a contract with Keppel

FELS for delivery of one drilling equipment package for a new mid water

semisubmersible drilling rig. This is the first out of three options that were

given when Keppel FELS and MHWirth signed a contract in April 2018 for a similar

drilling equipment package. Reference is made to stock exchange release dated 5

April 2018.

The rig will be built for Awilco Drilling PLC by Keppel FELS Limited in

Singapore. Delivery is planned for Q1 2022.

The contract value for the drilling equipment package, including a mid-water

riser package, is approximately USD 100 million. This will be included in the

order intake in Q2 2019.

For more information, please contact:

Leif Borge

Chief Financial Officer

Mobile: +47 917 86 291

E-mail: leif.borge@akastor.com

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.

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.