Aker — Earnings Release 2017

Nov 23, 2017

Aker ASA: Third-quarter results 2017 - Net Asset Value of NOK 34.7 billion

Aker ASA: Third-quarter results 2017 - Net Asset Value of NOK 34.7 billion

The net asset value ("NAV") of Aker ASA and holding companies ("Aker") increased

by 20.4 per cent in the third quarter to NOK 34.7 billion (NOK 467 per share),

compared to NOK 28.8 billion as per 30 June 2017.

The Aker share increased 19.3 per cent in the third quarter. This compares to a

12.1 per cent increase in the Oslo Stock Exchange's benchmark index ("OSEBX").

"Aker continues to generate attractive returns to shareholders. Since the re-

listing on Oslo Stock Exchange in 2004, Aker has delivered 27 per cent annually,

dividends included. In the third quarter, we added another NOK 5.9 billion to

our NAV," said Aker President and CEO Øyvind Eriksen.

The value of Aker's Industrial Holdings portfolio increased to NOK 36.0 billion

in the third quarter, from NOK 30.2 billion at the end of the second quarter.

The value of Aker's Financial Investments portfolio stood at NOK 5.6 billion at

the end of the third quarter, compared to NOK 5.8 billion as per 30 June 2017.

Aker held NOK 3.4 billion in liquidity reserves as per 30 September 2017. Cash

and liquid fund investments amounted to NOK 1.6 billion at the end of the

quarter, down from NOK 2.1 billion as per 30 June 2017.

"It is truly a privilege to have the financial strength and courage needed to

build strong business enterprises throughout industry cycles. An increasing cash

dividend from our portfolio companies enables us to do so. This year we will

receive more than NOK 1.5 billion in upstream dividend to Aker and next year we

expect even more," Eriksen said.

The value-adjusted equity ratio was 83 per cent, compared to 80 per cent as of

30 June 2017.

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:

Investors:

Per Kristian Reppe, Head of Investor Relations

Phone: +47 24 13 00 67

Mobile: +47 90 03 32 03

Media:

Atle Kigen, Head of Corporate Communications

Phone: +47 24 13 00 08

Mobile: +47 90 78 48 78

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.