Philly Shipyard — AGM Information 2022

Apr 20, 2022

Philly Shipyard ASA: Minutes from the Annual General Meeting

Philly Shipyard ASA: Minutes from the Annual General Meeting

The 2022 annual general meeting of Philly Shipyard ASA was held today as a digital meeting with online participation. All resolutions were made in accordance with the proposals set out in the meeting notice.

The minutes of the meeting are attached in Norwegian and English and available on www.phillyshipyard.com. Enclosed please also find the AGM presentation.

The general meeting appointed PriceWaterhouseCoopers AS as the new auditor of the company.

The general meeting also re-elected Kristian Monsen Røkke as the chairman of the board for a period of two years and Jan Petter Hagen as a new director of the board for a period of two years.

The board of directors now comprise of:

· Kristian Monsen Røkke (chairman)

· Jan Petter Hagen

· Elin Karfjell

Contacts:

Matt Cassidy

Communications Supervisor

Tel.: +1 215-875-2600

E-mail: matthew.cassidy@phillyshipyard.com

About Philly Shipyard

Philly Shipyard, Inc. (PSI) is a leading U.S. shipbuilder that is presently pursuing a mix of commercial and government work. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as a preferred provider of oceangoing merchant vessels with a track record of delivering quality ships, having delivered around 50% of all large ocean-going Jones Act commercial ships since 2000. PSI is the sole operating subsidiary of Philly Shipyard ASA. Philly Shipyard ASA is listed on the Oslo Stock Exchange (XOAX: PHLY) and is majority-owned by Aker Capital AS, which in turn is wholly-owned by Aker ASA (Aker). Aker is an industrial investment company that exercises active ownership to create value. Aker has ownership interests in oil and gas, renewable energy and green technologies, maritime assets, marine biotechnology and industrial software, and its portfolio includes companies like Aker BP, Aker Horizons, Aker BioMarine, Cognite, and Aker Solutions.

For more information about Philly Shipyard, please visit www.phillyshipyard.com.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.