Aker — Net Asset Value 2016

Nov 7, 2016

Aker ASA: Third-quarter results 2016 - Net Asset Value of NOK 29.8 billion

Aker ASA: Third-quarter results 2016 - Net Asset Value of NOK 29.8 billion

The net asset value of Aker ASA and holding companies ("Aker") rose to NOK 29.8

billion from NOK 24.7 billion, compared with the second-quarter figures. Per-

share net asset value ("NAV") amounted to NOK 401 as per 30 September 2016,

compared to NOK 333 as per 30 June 2016 and NOK 282 as per 31 December 2015

(prior to dividend allocation).

"Aker extended the positive trend embarked upon in the second quarter,

increasing our net asset value by 20 per cent in the three months through

September and closing the period with a NAV and a share price at eight-year

highs," said Aker President and CEO Øyvind Eriksen. "Driving the value creation

has been a combination of continuous operational improvements at the portfolio

level, combined with Aker's long-term strategy of investing counter-cyclically.

Aker has a track record of creating value through M&A and the merger between Det

norske and BP Norway is a prime example of this. Year-to-date, Aker BP has added

NOK 9 billion to Aker's NAV, net of investments."

The value of Aker's Industrial Holdings portfolio stood at NOK 30.2 billion in

the quarter, up from NOK 24.5 billion in the second quarter. Aker's Financial

Investments portfolio increased to NOK 8.4 billion, from NOK 7.2 billion in the

prior quarter.

Liquidity reserves were robust by the end of the third quarter 2016. Cash and

liquid fund investments increased by NOK 1.1 billion to NOK 4.9 billion in the

third quarter, primarily due to proceeds received from the sale of Havfisk as

well as dividends received from Ocean Yield and Philly Shipyard. Aker's primary

cash outflow in the quarter related to the acquisition of Aker BP shares, net of

obtained financing, as well as the investment in shares and a convertible loan

in Solstad Offshore.

The value-adjusted equity ratio was 77 per cent, down from 78 per cent as of 30

June.

The Aker share gained 29 per cent in the third quarter. This compares to a 3.3

per cent increase in the Oslo Stock Exchange's benchmark index ("OSEBX").

The full report and presentation can be downloaded from www.akerasa.com .

END

Net asset value (NAV) is Aker ASA's core performance indicator. Aker is an

investment company with a majority of listed companies in its portfolio.

Therefore, NAV is a more relevant indicator of the development of Aker's

underlying value than the company's consolidated accounts.

For further information, please contact:

Media:

Atle Kigen, Head of Corporate Communications

Phone: +47 24 13 00 08

Mobile: +47 907 84 878

Investors:

Marianne Stigset, Head of Investor Relations

Phone: +47 24 13 00 66

Mobile: +47 41 18 84 82

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.