Aker — Report Publication Announcement 2017

May 11, 2017

Aker ASA: First-quarter results 2017 - Net Asset Value of NOK 32.6 billion

Aker ASA: First-quarter results 2017 - Net Asset Value of NOK 32.6 billion

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

by 5.1 per cent in the first quarter 2017 to NOK 32.6 billion, compared to NOK

34.3 billion as per 31 December 2016. Per-share net asset value amounted to NOK

439 as per 31 March 2017, compared to NOK 462 as per year-end 2016.

The Aker share gained 2.8 per cent in the first quarter. This compares to a 0.6

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

The value of Aker's Industrial Holdings portfolio decreased to NOK 33.0 billion

in the first quarter, down from NOK 35.1 billion as per year-end 2016. The value

of Aker's Financial Investments portfolio stood at NOK 7.6 billion in the first

quarter, down from NOK 8.0 billion as per 31 December 2016. Cash and liquid fund

investments stood at NOK 4.3 billion at the end of the first quarter, down from

NOK 4.9 billion as per year-end 2016.

"The quarter displayed Aker's financial strength with NOK 410 million in

upstream dividends received from our portfolio companies. Combined with a solid

cash position, Aker used the quarter to de-leverage the balance sheet through

repayment of more than NOK 700 million in debt," said Aker President and CEO

Øyvind Eriksen

Aker's Annual General Meeting approved on 21 April 2017 the distribution of NOK

16 per-share ordinary cash dividend for 2016, which represents 3.5 per cent of

NAV as per 31 December 2016. In total, NOK 1.2 billion was paid out in early May

2017. Aker's policy is to pay annual dividends of 2-4 per cent of the company's

NAV.

The value-adjusted equity ratio was 80 per cent, on par with prior quarter.

"Aker's focus with each portfolio company is to ensure that they are attractive

and competitive on a stand-alone basis. The competitive landscape has, however,

changed, particularly within oil service, and is likely to further evolve. As an

active owner, Aker will continue to evaluate new alliances and transactions if

additional value can be created. Being an industrial investment company, it is

Aker's mandate to discuss opportunities and ideas with potential partners with

an objective to secure strong and profitable operations," Eriksen said.

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:

Per Kristian Reppe, Head of Investor Relations

Phone: +47 24 13 00 67

Mobile: +47 90 03 32 03

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.