Aker Solutions — Regulatory Filings 2021

May 25, 2021

Aker Solutions Signs Contract for East Anglia THREE Offshore Wind Project

Aker Solutions Signs Contract for East Anglia THREE Offshore Wind Project

May 25, 2021 - Aker Solutions, in a consortium with Siemens Energy, has signed a

contract with ScottishPower Renewables with the intention to provide the HVDC

(high-voltage, direct current) converter stations for the East Anglia THREE

offshore wind project in the UK.

The delivery of a very large[1] EPCI scope for East Anglia THREE is subject to

the project reaching financial close in 2022.

East Anglia THREE is the second project to be developed in the East Anglia Zone,

following the commissioning of East Anglia ONE in 2020. East Anglia THREE is

located in the North Sea off the east coast of England and is planned for an

installed capacity of up to 1,400 MW. It is part of the overall East Anglia Hub

development which includes East Anglia TWO and East Anglia ONE North, with a

planned total capacity of up to 3,100 MW. Planning applications for East Anglia

ONE North (800 MW) and East Anglia TWO (900 MW) are currently being examined by

the UK Planning Inspectorate.

"We are proud that ScottishPower Renewables, as a leading renewable energy

company, selected our consortium as the contractor for one of the world's

largest offshore wind developments. We have over decades developed substantial

operations in the UK based on leading expertise and a track record for

predictable execution of demanding projects. The new contract with ScottishPower

Renewables is aligned with our strategy to grow our activities within renewables

and low-carbon projects," said Kjetel Digre, chief executive officer of Aker

Solutions.

"We're pleased to have selected Aker Solutions and Siemens Energy for the design

and delivery of the two HVDC converter stations planned to connect the EA3

windfarm. The early selection of strategic contractors like this gives us more

time to look for opportunities within the UK supply chain, skills and

manufacturing as part of our project planning and delivery, which is good news,"

added Ross Ovens, ScottishPower Renewables' EA Hub Project Director.

"This will be our first HVDC link and will help us transfer more wind generation

to where it's needed and support the UK's ambitions to reach Net Zero. Our East

Anglia Hub projects have the potential to deliver more than 7.5 percent of the

UK's 40 GW target for offshore wind generation by 2030 and the world-leading

knowledge, experience and capabilities of Aker Solutions and Siemens Energy will

help ensure East Anglia THREE fully plays its part. We look forward to working

closely together to make this project a success," said Ovens.

Aker Solutions will not book order intake at this stage. Order intake is subject

to the project reaching financial close in 2022. Aker Solutions' first step in

the scope will be the detailed design engineering, which will be executed by the

company's engineering office in Reading, UK.

[1]Aker Solutions defines a 'very large' contract as being between NOK 2.0

billion and NOK 3.0 billion.

ENDS

Media Contact:

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

torbjorn.andersen@akersolutions.com

Investor Contact:

Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@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 14,000

people in more than 20 countries.

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