Aker — Share Issue/Capital Change 2021

Nov 11, 2021

Successful secondary placement of shares in Aker BP ASA

Successful secondary placement of shares in Aker BP ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR

INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN OR

ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE

UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE

SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange notice published on 10 November 2021

regarding a potential block sale of existing shares in Aker BP ASA ("Aker BP" or

the "Company") by Aker ASA (100% owner of Aker Capital AS) ("Aker") and bp p.l.c

(100% owner of BP Exploration Operating Company Ltd) ("BP") (jointly the

"Sellers").

The Sellers have successfully sold 18,010,000 shares in the Company,

representing approximately 5% of the shares outstanding in the Company, at NOK

310 per share (the "Offering"). 10,291,429 of the shares were sold by Aker and

7,718,571 of the shares were sold by BP. Settlement is expected to take place on

a delivery versus payment basis on or about 15 November 2021.

Following the Offering, Aker holds 133,757,576 shares in the Company,

representing approximately 37.14% of the outstanding shares and votes in the

Company and BP holds 100,302,878 shares in the Company, representing

approximately 27.85% of the outstanding shares and votes in the Company. The

Sellers have entered into a 6-month lock-up with the managers on the remaining

shares in the Company held by the Sellers after the Offering, subject to certain

exemptions.

Kjell Inge Røkke, the chairman of the board of directors in Aker ASA and the

ultimate majority owner of Aker ASA, is a member of the board of directors in

Aker BP. Øyvind Eriksen, the President and CEO of Aker ASA, is the chairman of

the board of directors in Aker BP. Murray Auchincloss, the CFO of BP Plc and

Kate Thomson, SVP Finance OB&C of BP Plc, are members of the board of directors

in Aker BP.

J.P. Morgan AG and Pareto Securities AS acted as Joint Global Coordinators and

Joint Bookrunners in the Offering, together with DNB Markets, a part of DNB Bank

ASA, Goldman Sachs International and Morgan Stanley & Co. International that

acted as Joint Bookrunners in the Offering (the "Managers"). Advokatfirmaet BAHR

AS acted as Norwegian legal advisers.

This information is considered to include inside information pursuant to the EU

Market Abuse Regulation article 7 and is subject to the disclosure requirements

pursuant to section 5-12 of the Norwegian Securities Trading Act and the EU

Market Abuse Regulation article 19. This stock exchange announcement was

published by Laila Hop, Paralegal in Aker ASA, on November 11, 2021 at

01.10 CET.

Important Notices

This announcement is not and does not form a part of any offer to sell, or a

solicitation of an offer to purchase, any securities of the Company. The

distribution of this announcement and other information may be restricted by law

in certain jurisdictions. Copies of this announcement are not being made and may

not be distributed or sent into any jurisdiction in which such distribution

would be unlawful or would require registration or other measures. Persons into

whose possession this announcement or such other information should come are

required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be

registered under the U.S. Securities Act of 1933, as amended (the "Securities

Act"), and accordingly may not be offered or sold in the United States absent

registration or an applicable exemption from the registration requirements of

the Securities Act and in accordance with applicable U.S. state securities laws.

The Company does not intend to register any part of the offering or its

securities in the United States or to conduct a public offering of securities in

the United States.

In any EEA Member State, this communication is only addressed to and is only

directed at qualified investors in that Member State within the meaning of the

Prospectus Regulation, i.e., only to investors who can receive the offer without

an approved prospectus in such EEA Member State. The expression "Prospectus

Regulation" means Regulation (EU) 2017/1129 as amended together with any

applicable implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons

in the United  Kingdom that are "qualified investors" within the meaning of the

Prospectus Regulation as it forms part of English law by virtue of the European

Union (Withdrawal) Act 2018 and that are (i) investment professionals falling

within Article 19(5) of the Financial Services  and Markets Act 2000 (Financial

Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,

and other persons to whom this announcement may lawfully be communicated,

falling within Article 49(2)(a) to (d) of the Order (all such persons together

being referred to as "relevant persons"). This communication must not be acted

on or relied on by persons who are not relevant persons. Any investment or

investment activity to which this communication relates is available only for

relevant persons and will be engaged in only with relevant persons. Persons

distributing this communication must satisfy themselves that it is lawful to do

so.

Matters discussed in this announcement may constitute forward-looking

statements. Forward-looking statements are statements that are not historical

facts and may be identified by words such as "believe", "expect", "anticipate",

"strategy", "intends", "estimate", "will", "may", "continue",  "should" and

similar expressions. The forward-looking statements in this release are based

upon various assumptions, many of which are based, in turn, upon further

assumptions. Although the Sellers believes that these assumptions were

reasonable when made, these assumptions are inherently subject to significant

known and unknown risks, uncertainties, contingencies and other important

factors which are difficult or impossible to predict and are beyond their

control.

By their nature, forward-looking statements are subject to numerous factors,

risks and uncertainties that could cause actual outcomes and results to be

materially different from those projected. Readers are cautioned not to place

undue reliance on these forward-looking statements. Except for any ongoing

obligation to disclose material information as required by the applicable law,

the Sellers do not have any intention or obligation to publicly update or revise

any forward-looking statements after they distributes this announcement, whether

to reflect any future events or circumstances or otherwise.

Neither of the Managers nor any of their respective affiliates makes any

representation as to the accuracy or completeness of this announcement and none

of them accepts any responsibility for the contents of this announcement or any

matters referred to herein.

Each of the Managers is acting for the Sellers only in connection with the

Offering and no one else, and will not be responsible to anyone other than the

Sellers for providing the protections offered to clients nor for providing

advice in relation to the Offering, the contents of this announcement or any

transaction, arrangement or other matter referred to in this announcement.

This announcement is for information purposes only and is not to be relied upon

in substitution for the exercise of independent judgment. It is not intended as

investment advice and under no circumstances is it to be used or considered as

an offer to sell, or a solicitation of an offer to buy any securities or a

recommendation to buy or sell any securities in the Company. Neither the

Managers nor any of their respective affiliates accepts any liability arising

from the use of this announcement.