Aker Horizons - M&A Activity 2022

Aker Horizons Completes REC Silicon Transaction with Hanwha Solutions

With reference to the stock exchange notice on 18 November 2021, Aker Horizons

confirms that the transaction with Hanwha Solutions has been finalized. Aker

Horizons has sold approximately 21.9 million shares in REC Silicon ASA to Hanwha

Solutions for NOK 20 per share and has thus received approximately NOK 438

million. In addition, Hanwha Solutions acquired approximately 48.2 million new

shares in REC Silicon through a private placement, providing approximately NOK

964 million in proceeds to REC Silicon. Following the transaction, Hanwha

Solutions and Aker Horizons both own approximately 16.67 percent in REC Silicon.

The transaction brings together two of the leading producers in different parts

of the solar PV value chain and strengthens REC Silicon's financial position.

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 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 owns stakes in Aker Carbon Capture,

Aker Clean Hydrogen, Aker Offshore Wind and Mainstream Renewable Power.

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