Aker

Earnings Release • Nov 4, 2022

Aker ASA: Third Quarter Results 2022 - Net Asset Value of NOK 69.0 billion

Aker ASA: Third Quarter Results 2022 - Net Asset Value of NOK 69.0 billion

The Net Asset Value ("NAV") of Aker ASA and holding companies ("Aker") ended the

third quarter at NOK 69.0 billion, compared to NOK 72.0 billion at the end of

the second quarter, representing a decrease of NOK 2.9 billion, or 4.1 per cent.

Aker's Board of Directors has approved to pay a cash dividend of NOK 14.50 per

share in the fourth quarter.

The per-share NAV amounted to NOK 929 as per 30 September 2022, compared to NOK

968 as per 30 June 2022. The Aker share decreased 6.6 per cent in the quarter to

NOK 706, compared to a 5.8 per cent decrease in the Oslo Stock Exchange's

benchmark index ("OSEBX").

"We are reporting yet another quarter marked by extreme volatility and

uncertainty. Never in my nearly fourteen years at the helm of Aker have I

witnessed geopolitics so potently impact energy markets or energy security,"

said Øyvind Eriksen, President and CEO at Aker ASA. "The turbulent times and

hazy outlook are a reminder of Aker's strength to keep a steady course, pursue

strong partnerships and collaborative efforts, and reflect on learnings to grow

and make sound strategic decisions. We remain committed to being a part of the

solution in a way that faces up to realities and reckons between tomorrow's

climate ambitions and today's energy needs."

The value of Aker's Industrial Holdings portfolio decreased by NOK 3.1 billion

in the third quarter, to NOK 67.0 billion. This was mainly driven by the value

decrease of the investments in Aker BP as well as Aker Horizons and Aker

BioMarine, partly offset by the value increase in Aker Solutions. The value of

Aker's Financial Investments portfolio stood at NOK 11.9 billion at the end of

the third quarter, an increase from NOK 11.5 billion at the end of the second

quarter.

"It is remarkable to see how far our industry has come in two years - from a

green wave washing over us in 2020, to a world trying to navigate the worst

global energy crisis in history two years later. As the current energy situation

shows, we need to use the crisis to rethink our collective way forward and

ensure we don't 'tear down our house before the next one is built," said

Eriksen.

"Public-private dialogue and collaboration has never been more important to

ensure predictability that makes it possible to invest in conventional energy

that is still required over the long term; deploy technology to reduce our

carbon footprint and improve efficiency; and lastly, continue to invest in and

build technology and infrastructure for clean energy production - first, to

complement conventional energy, over time, to have new primary, cheaper sources

of energy globally."

Aker's liquidity reserve, including undrawn credit facilities, stood at NOK 7.4

billion at the end of the third quarter. The value-adjusted equity ratio was 87

per cent, compared to 88 per cent at the end of the second quarter.

Based on the company's equity and liquidity position, Aker's Board of Directors

has approved to pay a cash dividend to Aker's shareholders of NOK 14.50 per

share in the fourth quarter, for a total dividend of NOK 29 per share paid in

2022. The total dividend is based on the 2021 accounts and equals 3.1 percent of

the NAV per 31 December 2021.

The full report and presentation are available at www.akerasa.com and

www.newsweb.no

-ENDS-

For further information, please contact:

Investors:

Fredrik Berge, Head of Investor Relations Aker ASA

Tel: +47 450 32 090

E-mail: fredrik.berge@akerasa.com

Media:

Atle Kigen, Head of Media Relations and Public Affairs Aker ASA

Tel: +47 907 84 878

E-mail: atle.kigen@akerasa.com

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act. This stock exchange

announcement was published by Laila Hop, Paralegal, Aker ASA, on November 04,

2022, at 07:00 CET.