Aker BP

Capital/Financing Update • Aug 24, 2017

DETNOR02: Distribution Put Option Expired

Reference is made to the stock exchange notice from Aker BP ASA ("Aker BP") dated 9 August 2017 relating to a Distribution Put Option in Det norske oljeselskap ASA 13/20 FRN(ISIN NO 001068414.5).

The deadline to exercise the Distribution Put Option at 107% of par plus accrued interest was set to 23 august 2017, and Aker BP has now obtained the results from the Distribution Put Option.

Bondholders representing NOK 2,000,000 nominal worth of DETNOR02 have exercised their put option. Aker BP will not cancel the bonds, and the gross nominal amount of DETNOR02 will thus remain NOK 1,900 million. Aker BP holds NOK 5,776,390 nominal worth of DETNOR02.

Contacts:

Investor contact: Jonas Gamre, VP Investor Relations, tel.: +47 971 18 292 Media contact: Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217

About Aker BP:

Aker BP is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker 'AKERBP'. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.