Aker — Net Asset Value 2019

May 10, 2019

Aker ASA: First-quarter results 2019 - Net Asset Value of NOK 56.2 billion

Aker ASA: First-quarter results 2019 - Net Asset Value of NOK 56.2 billion

The net asset value ("NAV") of Aker ASA and holding companies ("Aker") increased

by 34.7 per cent in the first quarter to NOK 56.2 billion (NOK 757 per share),

compared to NOK 41.7 billion as per year-end 2018.

The Aker share increased 42.4 per cent in the first quarter, which compares to a

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

"Aker and our portfolio companies continue to make headway, with improvements in

both underlying operations and financial performance. In the first quarter, all

of the five listed industrial portfolio companies delivered positive value

gains. The contribution this quarter was largely explained by Aker BP helped by

an improved sentiment in the oil and gas sector, resulting in a contribution to

NAV of NOK 13.5 billion, including NOK 647 million in dividends received to

Aker", said Aker's President and CEO Øyvind Eriksen.

The value of Aker's Industrial Holdings portfolio rose to NOK 60.1 billion in

the first quarter, from NOK 46.1 billion at the end of the fourth quarter. The

value of Aker's Financial Investments portfolio stood at NOK 6.5 billion at the

end of the first quarter, compared to NOK 5.1 billion as per 31 December 2018.

Aker Energy and Cognite were included in Aker's Industrial Holdings portfolio in

the first quarter.

"I'm impressed by the efforts of everyone working in and for Aker Energy - for

the time being Aker's largest and most important project. Aker has high

ambitions in Ghana. The aim is to build, through Aker Energy, the leading E&P

company on the Ghanaian continental shelf, and to help developing industrial

capabilities domestically. Through Aker Energy we will expand our E&P activity

into a new, resource rich region", Eriksen said.

Aker's liquidity reserve, including undrawn credit facilities, stood at NOK 6.4

billion as per 31 March 2019.

The value-adjusted equity ratio was 84 per cent which compares to 82 per cent as

of 31 December 2018.

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:

Investors:

Per Kristian Reppe, Investment Manager & Head of Investor Relations

Phone: +47 24 13 00 67

Mobile: +47 90 03 32 03

Media:

Atle Kigen, Head of Corporate Communications

Phone: +47 24 13 00 08

Mobile: +47 90 78 48 78

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.