Aker Horizons — Capital/Financing Update 2021

Mar 4, 2021

Aker Clean Hydrogen AS – Status of bookbuilding

Aker Clean Hydrogen AS – Status of bookbuilding

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Reference is made to the announcement made by Aker Horizons AS earlier today regarding the start of the bookbuilding period in connection with a potential private placement (the “Private Placement”) and admission to trading on Euronext Growth Oslo (the “Listing”, and together with the Private Placement, the “IPO”) of Aker Clean Hydrogen AS. The Company has been informed that the Managers (as defined below) have received orders such that the Private Placement is oversubscribed on the full deal size including the over-allotment option.

Carnegie AS, DNB Markets, a part of DNB Bank ASA and Pareto Securities AS are acting as Joint Global Coordinators and Joint Bookrunners and Arctic Securities AS and Sparebank1 Markets AS as Joint Bookrunners (jointly the “Managers”) to advise on and effect the Private Placement.

Advokatfirmaet BAHR AS acts as legal advisor to the Company in connection with the IPO. Advokatfirmaet Thommessen AS assists the Managers in connection with the IPO.

Important Notice

This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and

similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. The Company undertakes no obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.

This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Company, Carnegie AS, DNB Markets, a part of DNB Bank ASA, Pareto Securities AS, Arctic Securities AS, Sparebank1 Markets AS nor any of their respective affiliates accepts any liability arising from the use of this announcement.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Ivar Simensen, Communications, Aker Horizons AS on 4 March 2021 at 10:05 (CET).