Aker — Regulatory Filings 2021

Mar 8, 2021

Aker ASA launches Seetee to invest in Bitcoin and blockchain technology

Aker ASA launches Seetee to invest in Bitcoin and blockchain technology

Aker ASA ("Aker") today announced that it has established Seetee AS ("Seetee"),

a new company dedicated to investing in projects and companies throughout the

Bitcoin ecosystem and which will keep all its liquid investable assets in

bitcoin. Seetee is initially capitalized with NOK 500 million.

Seetee will initially focus on 1) investing in and owning bitcoin, 2) joining

the Bitcoin and broader blockchain community and establishing partnerships with

leading players, 3) launching Bitcoin verification operations, and 4) building

and investing in innovation projects and companies in the Bitcoin and blockchain

ecosystem.

Seetee will pursue these opportunities by building on the capabilities that have

been developed in the Aker Group through the efforts in industrial software,

fintech and green energy value chains. This gives Seetee an opportunity to

pursue innovations in the Bitcoin and broader ecosystem, e.g. in the areas of

cyber security, financial transactions and emissions-free verification

operations.

To accelerate its initiatives, Seetee will actively partner with other

companies. For this purpose, Seetee has entered into a collaboration agreement

with Blockstream, a global leader in Bitcoin and blockchain technology.

Blockstream provides companies access to the most mature, well tested, and

secure blockchain technology in production - the Bitcoin protocol extended via

interoperable sidechains to support new applications - along with the most

experienced teams in the industry. The collaboration will initially focus on

mining operations and be further developed by building on Blockstream's unique

strengths in blockchain technology and Aker's industrial legacy and capability

set.

"With the launch of Seetee, the Aker Group makes another move into software and

fintech. We are very excited about the industrial opportunities that will be

unlocked by Bitcoin and blockchain technology, and want to contribute forcefully

to that effort. These technologies have the potential to reduce frictions in our

day to day lives, enhance the security of our digitally driven economies, and

unlock new business models for innovation. We look forward to addressing these

and other applications together with Blockstream and other partners," said

Øyvind Eriksen, President and CEO of Aker ASA.

"It's exciting to see Aker dive into the Bitcoin ecosystem with enthusiasm. We

will be working closely with Seetee on Bitcoin mining and sidechain projects

that benefit Aker's group of companies and we expect that their rich experience

in leveraging global power infrastructure will prove to be a valuable asset to

the Bitcoin industry," said Adam Back, Co-founder and CEO of Blockstream.

Magnus Granath, Snorre Lorgen and Sverke Lorgen make up the management team that

will initiate Seetee's Bitcoin investments, Bitcoin verification operations and

innovation projects. Ola Snøve is the company's Executive Chairman.

"I'm excited to invest in Seetee and I am looking forward to being the Executive

Chairman, continuing to work closely with Snorre Lorgen, Sverke Lorgen, and

Magnus Granath. Our conversations with Blockstream have been truly inspiring and

I can't wait to be part of the team, turning opportunity into reality," said Ola

Snøve, Executive Chairman of Seetee.

Kjell Inge Røkke, Chairman of Aker ASA, has offered his reflections about the

investment in Bitcoin and establishment of Seetee in a Letter to Shareholders

available at www.seetee.io

Seetee is owned by Seetee TopCo AS, which again is owned 90.01% by Aker Capital

AS (Aker ASA) and 9.99% by Storbrea AS.

-ENDS-

For further information, please contact:

Snorre Lorgen, CEO, Seetee

snorre@seetee.io

Christina Chappell Glenn, Head of Communications and Investor Relations, Aker

ASA

christina.glenn@akerasa.com

+47 905 32 774

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 Christina Chappell Glenn, Head

of Communications at Aker ASA, on March 8, 2021 at 07:25 CET.