Aker Horizons - M&A Activity 2022

Sale of Rainpower to Aker Solutions

Aker Horizons ASA ("Aker Horizons") today announces the sale of Rainpower

Holding AS ("Rainpower").

Aker Horizons has, through its subsidiary, agreed to sell 100 percent of the

shares in its portfolio company Rainpower, a technology provider to the

hydropower industry, to Aker Solutions Holding AS, a subsidiary of Aker

Solutions ASA.

The transaction is expected to be completed during the second quarter of 2022 at

a price of about NOK 100 million, with an additional discretionary element which

may bring the price to NOK 150 million. The transaction remains subject to

various closing conditions, including certain third party approvals.

Please see separate announcement today by Aker Solutions ASA for further

details.

For further information, please contact:

Ivar Simensen, Communications, Tel: +47 46 40 23 17,

Christian Yggeseth, Investor Relations, Tel: +47 915 10 000,

About Aker Horizons

Aker Horizons ASA is a planet-positive investment company dedicated to

developing companies within renewable energy and other technologies that reduce

emissions or promote sustainable living. The company is listed on the Oslo Stock

Exchange and majority-owned by Aker ASA. Aker Horizons' investment portfolio

includes holdings in Aker Clean Hydrogen, Aker Offshore Wind, Aker Carbon

Capture and Mainstream Renewable Power.

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