Aker — M&A Activity 2018

Mar 21, 2018

Aker ASA: Restructuring of Norske Skog

Aker ASA: Restructuring of Norske Skog

Reference is made to the stock exchange notice dated 23 November 2017 where Aker

ASA ("Aker") announced that Aker Capital AS ("Aker Capital"), a wholly owned

subsidiary of Aker, and Oceanwood Capital Management LP ("Oceanwood") had

entered into an agreement to establish a company for the purpose of bidding for

the shares in Norske Skog AS ("Norske Skog").

Aker Capital and Oceanwood have decided to terminate their agreement. The

parties did not come to an agreement regarding the terms of a joint bid for

Norske Skog. Oceanwood has informed Aker Capital that it has proceeded in the

process without Aker Capital. Aker Capital will not place an independent bid for

Norske Skog.

END

For further information, please contact:

Investors:

Per Kristian Reppe, Investment Manager & Head of Investor Relations

Phone: +47 24 13 00 67

Mobile: +47 900 33 203

Media:

Atle Kigen, Head of Communications

Phone: +47 24 13 00 08

Mobile: +47 907 84 878

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.