Aker

Earnings Release • May 8, 2024

Aker ASA: First Quarter Results 2024 - Net Asset Value of NOK 60.4 billion

Aker ASA: First Quarter Results 2024 - Net Asset Value of NOK 60.4 billion

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

60.4 billion at the end of the first quarter 2024, compared to NOK 63.2 billion

at the end of the fourth quarter 2023. Aker experienced strong operations and

high activity across the portfolio in the first quarter.

While navigating a complex macroeconomic and a geopolitical landscape, Aker

started the year with high activity. Some of the highlights include the

refinancing of Solstad being completed in January, creating value for all

stakeholders involved. And in March, Aker Carbon Capture (ACC) and SLB announced

the agreement to combine their respective carbon capture businesses to become a

diversified, global carbon capture player. During the quarter, Aker BP continued

to deliver strong production, Cognite continued its positive commercial

development and both Aker Solutions and Aker BioMarine posted improved financial

results for the period.

"Aker closed the first quarter of 2024 with high activity across the portfolio.

Aker's partnership with SLB continues to grow and the new venture within carbon

capture marks another important step to our existing partnerships within subsea

production technologies with Aker Solutions and industrial software with

Cognite. The transaction will support accelerated development of industrial

decarbonization at scale and better position ACC for further international

growth," said Øyvind Eriksen, President & CEO of Aker ASA.

"Aker's commitment to long-term industrial development and shareholder value

creation remains firm, but moving forward our approach will be even more

focused. Instead of spreading our efforts across multiple sectors and companies,

we will devote more time and resources to larger companies where Aker's

industrial ecosystem can make a difference and continue to generate value. When

allocating capital, we will prioritize cash-yielding investments that also

generate a running return in the form of dividends or interest income,

contributing meaningfully to our objective of increased and diversified upstream

cash. Assessing business opportunities, strategic alternatives including

transactions, and with a continued focus on sustainability, remains important

parts of Aker's active ownership agenda and method of work. This applies equally

to our listed portfolio as well as to more recent startups in which Aker has

strategically invested early-stage capital," said Eriksen.

Key financials - first quarter 2024

. GAV: NOK 71.7 billion

. Industrial Holdings: NOK 60.1 billion

. Financial Investments: NOK 11.6 billion

. NAV: NOK 60.4 billion

. NAV per share: NOK 813.2

. Share price: NOK 623.5

. Liquidity: NOK 5.5 billion* of which NOK 0.7bn cash

(*incl. undrawn credit facilities)

(Please note that Aker's investments in Solstad Offshore and Solstad Maritime

have been moved from the Financial Investments segment to Industrial Holdings

from Q1 2024 onwards, and historical numbers have been re-presented).

For further information or questions following the presentation, please email

the relevant contact below. The quarterly presentation and material 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 May 8, 2024, at 07:00 CEST.