Aker BP

Remuneration Information • Oct 16, 2023

Grants awarded under Aker BP's Long-Term Incentive Programme

Grants awarded under Aker BP's Long-Term Incentive Programme

Aker BP’s Long-Term Incentive Programme (LTIP) is designed to incentivise the

executive management team (EMT) to deliver on the company’s long-term business

objectives and maximise alignment with shareholder value creation.

The LTIP is a share-based scheme in which grants are awarded annually, vested

over a three-year period, and subject to a one-year lockup. Each grant

represents one underlying share, and the number of grants awarded corresponds to

20 percent of base salary divided by the Aker BP share price at the time of the

award.

The final number of shares awarded at the end of the vesting period will be

adjusted by up to +/- 100 percent based on an assessment of relative shareholder

return as described in Aker BP’s Remuneration report 2022 (https://akerbp.com/wp

-content/uploads/2023/03/aker-bp-remuneration-report-2022.pdf). The number of

shares awarded will also be adjusted for dividends paid during the vesting

period.

For the 2023-2026 LTIP cycle, the EMT members have been awarded grants with

effective date 1 July 2023 as set out in the table below.

Name Grants 2023

Marit Blaasmo 2,400

Ine Dolve 2,568

Paula Doyle 2,972

Karl Johnny Hersvik 7,278

Thomas Hoff-Hansen 2,127

Lars Høier 2,743

Per Harald Kongelf 3,311

Ole Johan Molvig 2,764

Kari Nielsen 2,212

Knut Sandvik 2,736

Per Øyvind Seljebotn 2,637

Tommy Sigmundstad 2,823

David Tønne 3,396

Georg Vidnes 2,486

Thomas Øvretveit 2,127

Contact:

Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889

About Aker BP:

Aker BP is a company engaged in exploration, field development and production of

oil and gas on the Norwegian continental shelf. The company operates the field

centres Alvheim, Edvard Grieg, Ivar Aasen, Skarv, Ula and Valhall, and is a

partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu,

Norway, and is listed on Oslo Børs under the ticker AKRBP. 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 and requirements under the EU Market

Abuse Regulation.