Aker — Earnings Release 2022

Aug 17, 2022

Aker ASA: Half-Year and Second Quarter Results 2022 - Net Asset Value increase of NOK 2.2 billion in the first half of the year

Aker ASA: Half-Year and Second Quarter Results 2022 - Net Asset Value increase of NOK 2.2 billion in the first half of the year

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

with NOK 2.2 billion, or 3.1 per cent, to NOK 72.0 billion in the first half of

the year, net of dividends paid in the period of NOK 1.1 billion. For the second

quarter of 2022, the NAV decreased with NOK 2.8 billion, or 3.7 per cent,

compared to the first quarter of 2022, including NOK 1.1 billion in dividends

paid.

The per-share NAV amounted to NOK 968 as per 30 June 2022, compared to NOK 939

as per 31 December 2021. The Aker share decreased 6.6 per cent, dividend

adjusted to NOK 756 in the first half of the year, compared to a 2.6 per cent

decrease in the benchmark index ("OSEBX"). For the second quarter, the share

price decreased 4.9 per cent, dividend adjusted, compared to a 7.2 per cent

decrease in the reference index.

"The second quarter was marked by market fear from volatile macroeconomic and

geopolitical developments; however, our portfolio companies are showing

determination and resilience through uncertain times. While Aker's share price

has not escaped the global sentiment, we are coupling our strong industrial

foundation with new technologies, ideas, and partnerships. Halfway through the

year, long-term efforts are bearing fruit and new shoots taking root," said

Øyvind Eriksen, President and CEO of Aker ASA.

For the first half of the year, Aker's Industrial Holdings portfolio increased

by NOK 2.6 billion to NOK 70.1 billion, mainly driven by value increase of Aker

BP. The value decrease of the Industrial Holdings portfolio of NOK 1.4 billion

in the second quarter was mainly due to value decrease of Aker Horizons, partly

offset by value increase of Aker BP and an additional investment in Aker

Solutions. The value of Aker's Financial Investments portfolio stood at NOK 11.5

billion at the end of the second quarter.

"The world is facing an exponential increase in food consumption and energy

demand and the need to decarbonize energy systems is undeniable. However, while

the urgency has never been more stated, the issue remains incredibly nuanced as

the world will need enormous investments in new power generation projects, as

well as investments in oil and gas to meet global energy demand. This is why I

am a firm believer that innovative models of collaboration and digitalization is

more important than ever," said Eriksen. "The energy transition is enormous,

complex, costly and take time. Together with our elected officials, we need to

rethink our supply chains to better support the shift towards greener energy

production. Moreover, we need to deploy digital technologies and software

solutions that will help reduce cost and time it takes to reach scale. At Aker,

our strategy is pinned on this increasingly clear - though complex -

macroeconomic picture. Together with our portfolio companies we will claim a

front seat in the race to meet global energy demand in the most technologically

advanced, sustainable, and collaborative manner."

Aker's liquidity reserve, including undrawn credit facilities, stood at NOK 6.6

billion as per 30 June 2022. The value-adjusted equity ratio was 88 per cent,

slightly up from year-end 2021.

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

www.newsweb.no

-ENDS-

For more information, please contact:

Investors:

Joachim Bjørni, Head of Investor Relations, Aker ASA

Tel: +47 924 22 106

E-mail: joachim.bjorni@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 August 17,

2022, at 07:00 CEST.