Aker

Earnings Release • May 4, 2022

Aker ASA: First quarter results 2022 - All time high Net Asset Value of NOK 74.7 billion

Aker ASA: First quarter results 2022 - All time high Net Asset Value of NOK 74.7 billion

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

record high NOK 74.7 billion in the first quarter of 2022, a NOK 4.9 billion, or

7.1 per cent, increase from year-end 2021.

The per-share NAV amounted to NOK 1,006 as per 31 March 2022, compared to NOK

939 as per 31 December 2021. The Aker share decreased 1.8 per cent, to NOK 810

in the first quarter, compared to a 5.0 per cent increase in the benchmark index

("OSEBX").

"Russia's invasion of Ukraine and it's ramifications are not limited to Eastern

Europe but has rattled the financial market and disrupted the global economy. It

has the potential to reverse decades of progress for globalization and growth.

Amid such a brutal and senseless conflict, where entire energy markets are being

recalibrated, the significance of a single company's first quarter results

pales," said Øyvind Eriksen, President and CEO of Aker ASA.

The value increase of Aker's Industrial Holdings portfolio of NOK 3.9 billion in

the first quarter to NOK 71.5 billion was mainly due to value increase of Aker

BP and Aker Solutions. The value of Aker's Financial Investments portfolio stood

at NOK 13.4 billion at the end of the first quarter, compared to NOK 12.5

billion as per 31 December 2021.

"Our portfolio companies continue to demonstrate their ability to adapt to

volatile market conditions and to drive growth. While uncertainty looms on many

fronts, our path forward is - as always - to both strengthen and utilize our

industrial fundament for responsible and sustainable value creation." said

Eriksen. "Aker's Net Asset Value increased by NOK 4.9 billion to NOK 74.7

billion, or a record NOK 1,006 per share. The increase is largely driven by

growth in the oil and gas segment, where Aker BP contributed with an increase of

NOK 7.9 billion in the quarter, excluding dividend. More than a single company's

contribution to our results, however, I am encouraged by the general development

across our portfolio, which reflects the high activity and industrial

development taking place."

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

billion as per 31 March 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 subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.