Aker — Earnings Release 2013

Feb 28, 2014

Aker ASA: Aker ASA: Fourth-quarter results 2013 - Net Asset Value of NOK 24 billion

Aker ASA: Aker ASA: Fourth-quarter results 2013 - Net Asset Value of NOK 24 billion

The net asset value of Aker ASA and holding companies (Aker) rose 9.9 per cent

in the quarter to NOK 24 billion. Per-share net asset value (NAV) amounted to

NOK 332 as of 31 December 2013, compared to NOK 302 as per 30 September 2013 and

NOK 321 as per year-end 2012, before dividend allocation.

"Aker closed 2013 with a strong quarter," said Aker President and CEO Øyvind

Eriksen. "Significant strategic objectives were accomplished, both at the Aker

level and at the subsidiary level. Aker increased its ownership stake in Aker

Solutions, advanced in its realisation programme and increased its upstream cash

flow. Several of our companies made progress in focusing their portfolios and

strengthening their balance sheets."

Cash holdings were reduced by NOK 2.3 billion to NOK 2.5 billion in the fourth

quarter, primarily due to the acquisition of 16.44 million shares in Aker

Solutions for NOK 1.9 billion. Ocean Yield and Kvaerner disbursed NOK 117

million in dividends to Aker in the quarter. Cash holdings stood at NOK 3.1

billion as per 31 December 2012.

The value of Aker's Industrial Holdings portfolio rose to NOK 21.6 billion in

the quarter, from NOK 18.3 billion as of 30 September 2013. Aker's Financial

Investments portfolio amounted to NOK 8.1 billion, compared to NOK 9.4 billion

as of 30 September 2013.

The value-adjusted equity ratio was 81 per cent, prior to NOK 940 million

allocated to dividend, up from 79 per cent as of 30 September 2013. The Aker

share advanced 21 per cent during the fourth quarter to NOK 222, compared to a

9.4 per cent gain in the Oslo Stock Exchange's benchmark index (OSEBX).

The income statement for Aker ASA and holding companies shows a pre-tax loss of

NOK 43 million for the fourth quarter, compared to a NOK 77 million profit in

the prior quarter. The profit of the year was NOK 825 million, compared to NOK

89 million for 2012.

The board recommends a payment of NOK 13 per share ordinary dividend for 2013,

up from NOK 12 per share for 2012. This corresponds to a 5.9 per cent yield to

the share price at the close of 2013 and represents 3.9 per cent of NAV, which

is within the range of Aker's dividend policy.

"There should be no doubt that we are strongly committed to Aker's dividend

policy," said Eriksen. "Building long-term intrinsic value to ensure high

returns and continued attractive dividend yields to our shareholders remains our

guiding principle."

The full report and presentation can be downloaded from www.akerasa.com

END

Net asset value (NAV) is Aker ASA's core performance indicator. Aker is an

investment company with a majority of listed companies in its portfolio.

Therefore, NAV is a more relevant indicator of the development of Aker's

underlying value than the company's consolidated accounts.

For further information, please contact:

Media:

Atle Kigen, Head of Corporate Communications

Phone: +47 24 13 00 08

Mobile: +47 907 84 878

Investors:

Marianne Stigset, Head of Investor Relations

Phone: +47 24 13 00 66

Mobile: +47 41 18 84 82

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1765393]