Aker — Earnings Release 2018

Nov 8, 2018

Aker ASA: Third-quarter results 2018 - Net Asset Value of NOK 63.3 billion

Aker ASA: Third-quarter results 2018 - Net Asset Value of NOK 63.3 billion

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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

by 10.8 per cent in the third quarter to NOK 63.3 billion (NOK 852 per share),

compared to NOK 57.1 billion as per 30 June 2018.

The Aker share increased 17.8 per cent in the third quarter, which compares to a

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

"In the third quarter, Aker's NAV and share price reached all time high.

Overall, Aker's portfolio companies con­tinue to perform well and focus remain

on further value creation. We acknowledge, however, that we are also exposed to

external fac­tors that we do not control. Subsequent to quarter end the

sentiment in the capital markets shifted to the negative, and both share prices

and oil prices have fallen. Despite the market correction in the fourth quarter,

Aker's share price is still up 57 per cent year-to-date. Not a bad return after

all", said Aker's President and CEO Øyvind Eriksen.

The value of Aker's Industrial Holdings portfolio rose to NOK 67.1 billion in

the third quarter, up from NOK 61.2 billion as per 30 June 2018. The value of

Aker's Financial Investments portfolio stood at NOK 5.4 billion at the end of

the third quarter, down from NOK 5.1 billion as per the end of the second

quarter.

Aker's liquidity reserve, including undrawn credit facilities, stood at NOK 4.5

billion as per 30 September 2018, on par with prior quarter.

"Countercyclical capital allocation and M&A have added a lot of value to Aker's

shareholders in recent years. In 2016, we said that if you do not believe in the

future of oil and gas industry, you should sell your shares in Aker. The

statement turned out to be a rather valuable (implicit) investment advice. We

stick to our strategy despite market volatility, and we maintain a prosperous

outlook for oil and gas. We continue to sup­port each portfolio company to

develop and grow according to their respective plans", Eriksen said.

The value-adjusted equity ratio was 87 per cent, up from 86 per cent per 30 June

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, Investment Manager & 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.

Attachments

* Aker ASA interim report 3Q 2018 (https://prlibrary-

eu.nasdaq.com/Resource/Download/20a98660-11ce-4647-bc2f-4aa785a108e2)

* Aker ASA 3Q 2018 presentation (https://prlibrary-

eu.nasdaq.com/Resource/Download/d640cd4b-5a5f-4f78-b616-c068c472f1c1)