Aker Horizons — Share Issue/Capital Change 2021

Nov 5, 2021

Aker Horizons Successfully Raises NOK 1 Billion in Private Placement

Aker Horizons Successfully Raises NOK 1 Billion in Private Placement

Aker Horizons (or the "Company") has successfully completed a private placement

raising NOK 1 billion in gross proceeds to strengthen Aker Horizons' balance

sheet ahead of investments in its portfolio companies and new direct

investments.

The Company will issue 28,985,507 new shares at NOK 34.50 per share. The private

placement was over-subscribed multiple times with strong domestic and

international demand from leading institutional investors. Baillie Gifford

Overseas Limited was allocated 13,500,000 shares, representing 46.6 percent of

the total share issue and resulting in an ownership of 4.6 percent in Aker

Horizons.

"Baillie Gifford recently became a key shareholder in our portfolio company Aker

Carbon Capture, and we are now pleased to also welcome Baillie Gifford as a key

shareholder in Aker Horizons," said Kristian Røkke, Chief Executive Officer of

Aker Horizons. "Aker Horizons strives to make a meaningful difference for the

environment and sees opportunity in a holistic approach to green value chains as

exemplified by our recent investments in Narvik."

Since the inception of Aker Horizons, the Company continues to grow a portfolio

dedicated to renewable energy and clean technologies. Portfolio company

investments include building scale across global platforms through Mainstream

Renewable Power, as demonstrated by their current construction of 1.4 GW wind

and solar assets in Chile, the recent launch of their Nazca 1 GW Chilean

platform and the new award of 1.27 GW in South Africa to Mainstream and

partners. New direct investments include the recently announced strategic

initiatives in the Narvik region to establish green value chains for power

-intensive industries in Northern Norway based on some of Europe's lowest priced

renewable energy.

Carnegie AS, DNB Markets, a part of DNB Bank ASA, and Morgan Stanley & Co.

International plc acted as joint bookrunners and managers for the private

placement. Advokatfirmaet BAHR AS acted as legal advisor to the Company and

Advokatfirmaet Thommessen AS acted as legal advisor to the Managers in the

private placement.

ENDS

Media contact:

Ivar Simensen, mob: +47 464 02 317,

email: ivar.simensen@akerhorizons.com

Investor contact:

Christian Yggeseth, mob: +47 915 10 000,

email: christian.yggeseth@akerhorizons.com

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.