Aker Solutions — M&A Activity 2023

Aug 4, 2023

Aker Solutions ASA: Competition authorities approve subsea joint venture between Aker Solutions, SLB and Subsea7

Aker Solutions ASA: Competition authorities approve subsea joint venture between Aker Solutions, SLB and Subsea7

August, 4 2023 - Reference is made to the stock exchange release August 30, 2022

regarding the agreements to form a subsea joint venture with SLB and Subsea7.

Closing is subject to regulatory approvals.

Following clearance as of today by antitrust authorities in Brazil, all

regulatory approvals/clearances required to close the transactions have been

obtained, including required clearances in Angola, Mozambique, Australia,

Norway, the United Kingdom and the United States. All approvals/clearances

obtained are unconditional.

The joint venture is planned as a milestone in subsea production economics,

helping customers unlock reserves, reduce time to first oil, lower development

costs, and achieve decarbonization goals. The three companies will bring

together deep reservoir domain and engineering design expertise, extensive field

-proven subsea production and processing technology portfolios, world-class

manufacturing scale and capabilities, and a comprehensive suite of life-of-field

solutions to customers around the world.

The parties will continue to work to satisfy the remaining conditions for

closing, and aim to close as early as practicably possible in the fourth quarter

of 2023.

ENDS

Media Contact:

Torbjørn Andersen, mob: +47 928 85 542, email:

torbjorn.andersen@akersolutions.com

Investor Contact:

Preben Lund Ørbeck, mob: +47 470 10 611, email: preben.orbeck@akersolutions.com

Aker Solutions delivers integrated solutions, products and services to the

global energy industry. We enable low-carbon oil and gas production and develop

renewable solutions to meet future energy needs. By combining innovative digital

solutions and predictable project execution we accelerate the transition to

sustainable energy production. Aker Solutions employs approximately 16,000

people in more than 20 countries.

Visit akersolutions.com and connect with us on

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YouTube (https://www.youtube.com/akersolutions).

This press release may include forward-looking information or statements and is

subject to our disclaimer, see https://akersolutions.com

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 release was published by Svend Thürmer, Senior Advisor,

Communications, Aker Solutions, on August 04, 2023 at 20:00 CEST.