Aker

Earnings Release • Nov 6, 2024

Aker ASA: Third Quarter Results 2024 - NAV of NOK 57.0 billion, dividend of NOK 35.50 per share

Aker ASA: Third Quarter Results 2024 - NAV of NOK 57.0 billion, dividend of NOK 35.50 per share

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

57.0 billion at the end of the third quarter 2024, compared to NOK 63.9 billion

at the end of the second quarter 2024. Aker's Board of Directors has approved to

pay an additional cash dividend of NOK 35.50 per share, for a total of NOK 2.6

billion, in the fourth quarter, bringing the total dividend to NOK 3.8 billion,

or NOK 51 per share, for the full year.

"Aker ended the third quarter with a more streamlined and cash-generative

investment portfolio. This enables us to pay an additional NOK 35.50 per share

in cash dividend. Furthermore, for the first time, the Aker's board is adjusting

the dividend policy upward to 4-6% of NAV annually. Despite a decrease in our

Net Asset Value this quarter, primarily due to lower oil prices, these actions

reflect how we are playing to our strengths, including active ownership and

transactional capabilities, to drive value creation," said Øyvind Eriksen,

President & CEO of Aker ASA.

Key financials - third quarter 2024

. GAV: NOK 66.2 billion

. Industrial NOK 54.9 billion

Holdings:

. Financial NOK 11.3 billion

Investments:

. NAV: NOK 57.0 billion

. NAV per NOK 767

share:

. Share NOK 548

price:

. Dividend NOK 35.50 per share, to be paid in Nov.

approved:

. Liquidity: NOK 7.9 billion* of which NOK 0.7bn cash and liquid funds

*incl. undrawn credit facilities

"All eyes are on the US this morning. Like the rest of the world, we are closely

monitoring the outcome of the election. Despite the potential impact on global

markets and trade dynamics, many aspects relevant to Aker are expected to remain

unchanged. We anticipate a continued fragmented world, geopolitical uncertainty

and conflicts, and significant incentives for the US to maintain its technology

-leadership and energy self-sufficiency. At Aker, we are used to managing

volatilities and remain committed to maintaining a steady course, continuing to

deliver value to our shareholders."

The third quarter of 2024 reflected high activity levels across the portfolio.

Aker continued to progress on its strategy of a more streamlined investment

portfolio, by over time focusing on fewer portfolio companies with potential for

secular growth, profitability, and cash flow generation. Aker's portfolio

companies announced more than NOK 18 billion of total shareholder distributions

during the quarter. Consequently, Aker has increased its estimated upstream

dividends to more than NOK 11 billion in 2024, a significant increase from NOK

4.4 billion last year and NOK 2.8 billion in 2022. Recent dividend announcements

across the portfolio include:

.  Aker Solutions: NOK 10 billion (OneSubsea JV transaction)

.  Aker BP: USD 379 million quarterly dividend

.  Aker BioMarine: NOK 3.9 billion (Feed Ingredients transaction)

.  Solstad Maritime: NOK 233 million for Q3 and initiated quarterly dividends

.  AMSC: increased quarterly dividends to NOK 43 million

Aker's revised dividend policy of 4-6% of year-end NAV is rooted in a commitment

to a balanced approach to capital allocation, maintaining a solid balance sheet,

preserving financial flexibility and investment capacity, while delivering

consistent returns to shareholders.

Despite a negative impact on Aker's NAV in the quarter due to oil price

fluctuations, Aker BP remains a cornerstone of the industrial investment

portfolio. The company delivered strong operational performance, marked by high

efficiency, low costs, and low emissions. Cognite continued its positive

commercial development, with Annual Recurring Revenue (ARR) reaching a new

record high. SalMar Aker Ocean has successfully completed four production cycles

showing stronger biological results compared to traditional fish farming.

For further information, or questions following the presentation, please email

the relevant contact below. The quarterly presentation and materials are

available at www.akerasa.com and www.newsweb.no

- END -

Media contact

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

Tel: +47 90 78 48 78

E-mail: atle.kigen@akerasa.com

Investor contact

Fredrik Berge, Head of Investor Relations, Aker ASA

Tel: +47 45 03 20 90

E-mail: fredrik.berge@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 6, 2024, at 07:00 CET.