Aker — Report Publication Announcement 2021

Jul 16, 2021

Aker ASA: Second Quarter and Half-Year Results 2021 - Record-High Net Asset Value of NOK 66.9 billion

Aker ASA: Second Quarter and Half-Year Results 2021 - Record-High Net Asset Value of NOK 66.9 billion

The Net Asset Value (NAV) of Aker ASA and holding companies ("Aker") increased

by NOK 5.6 billion in the second quarter 2021, including dividend paid. At the

end of the second quarter, the NAV was NOK 66.9 billion, the highest NAV on

record for the company. For the first half of the year, the NAV increased by NOK

14.4 billion, or 27 per cent, adjusted for dividend.

"Brent oil price and E&P stocks have seen a sharp rebound in the first half of

the year, while it has been a more volatile period for 'green shares'. However,

Aker's success in the energy transition is not measured by today's harvest, but

by the seeds planted," said Øyvind Eriksen, President and CEO of Aker ASA. "Our

priority is to continue to utilize our extensive industrial track record and

learnings to withstand turbulent times. This means ensuring that our portfolio

companies have robust capital structures and liquidity reserves, building solid

and competent organizations, and maintaining the overall ability to seize value

accretive investment opportunities when they arise."

The per-share NAV amounted to NOK 901 as per 30 June 2021, compared to NOK 838

and NOK 718, as per 31 March 2021 and 31 December 2020, respectively. The Aker

share declined 1 per cent, adjusted for dividend, to NOK 635.00 in the second

quarter, compared to a 5.9 increase in the benchmark index (OSEBX). For the

first half of the year, the share price increased 15.5 per cent, adjusted for

dividend, compared to a 15.1 per cent increase in the reference index.

The value of Aker's Industrial Holdings portfolio increased by NOK 5.6 billion

in the quarter to NOK 71.9 billion. For the first half of the year, the

portfolio has increased by NOK 15.1 billion. The quarterly results were mainly

driven by value increases of the investments in Aker BP and Cognite.  The value

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

the quarter, down 4.3 per cent from the first quarter.

"Aker's has harnessed a collaborative advantage over the years, which has

afforded us unique key learnings on which we can build as we form new alliances

in new, competitive industrial landscapes. A key priority becoming increasingly

important to our general ownership agenda, is to secure and build solid, long

-term partnerships for growth across the portfolio," said Eriksen. "With

partners such as Yara, Statkraft, BP, Microsoft, Shell and Ocean Winds, Aker

Horizons' companies are positioned to succeed. Moreover, strategic partnerships

and investments, such as by Accel and TCV in Cognite, also serve as a testament

to the growth potential and significant value creation taking place across

Aker's portfolio."

Aker's liquidity reserve, including undrawn credit facilities, stood at NOK 1.9

billion as per 30 June 2021. The value-adjusted equity ratio was 84 per cent,

unchanged from the first quarter.

The full report and presentation are available at www.akerasa.com

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For more information, please contact:

Media:

Atle Kigen, Head of Media Relations and Public Affairs, Aker ASA

Tel: +47 90784878

Email: atle.kigen@akerasa.com

Investors:

Christina Chappell Glenn, Head of Investor Relations and Corporate

Communications, Aker ASA

Tel: +47 90532774

Email: christina.glenn@akerasa.com

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.