Aker — Earnings Release 2016

May 11, 2016

Aker ASA: First-quarter results 2016 - Net Asset Value of NOK 19.7 billion

Aker ASA: First-quarter results 2016 - Net Asset Value of NOK 19.7 billion

The net asset value of Aker ASA and holding companies ("Aker") fell by 5.7 per

cent in the first quarter 2016 to NOK 19.7 billion, compared to NOK 20.9 billion

as per 31 December 2015. Per share net asset value ("NAV") amounted to NOK 265

as per 31 March 2016, compared to NOK 282 as per year-end 2015. Cash holdings

rose by NOK 0.7 billion to NOK 2.2 billion.

"The robustness of the Aker Group underwent a stress test when crude oil prices

plunged below USD 27 a barrel in late January 2016," said Aker President and CEO

Øyvind Eriksen. "In this challenging environment, both Aker and its portfolio

companies soldiered on. Aker emerged with a cash balance, including liquid fund

investments, of NOK 2.6 billion as per the end of the first quarter, whilst our

interest-bearing debt stood unchanged at NOK 6.5 billion. This gave us a value-

adjusted equity ratio of 74 per cent. Aker's balance is rock solid and we are

not restricted by our financial position."

The value of Aker's Industrial Holdings portfolio fell to NOK 18.8 billion in

the quarter, from NOK 20.2 billion as per year-end 2015. Aker's Financial

Investments portfolio stood unchanged at NOK 7.7 billion.

The Aker share fell 5.8 per cent in the first quarter. This compares to a 5.3

per cent decline in the Oslo Stock Exchange's benchmark index.

Aker's Annual General Meeting approved on 22 April 2016 the distribution of NOK

10 per-share ordinary dividend for 2015, which represents 3.6 per cent of NAV as

per 31 December 2015. In total, NOK 742 million was paid out in early May 2016.

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

END

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:

Investors:

Marianne Stigset, Head of Investor Relations

Phone: +47 24 13 00 66

Mobile: +47 41 18 84 82

Media:

Atle Kigen, Head of Corporate Communications

Phone: +47 24 13 00 08

Mobile: +47 907 84 878

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#2011416]