AKER OFFSHORE WIND AS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN ANY JURISDICTION IN WHICH THE 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 previous stock exchange announcements byAker Offshore Wind AS ("Aker Offshore Wind" or "AOW") regarding the contemplated merger withAker Horizons ASA ("Aker Horizons "). The merger will be carried out as a triangular merger whereby AOW will merge withAker Horizons' wholly-owned subsidiary AH Tretten AS as the surviving entity andAker Horizons will issue consideration shares. The creditor notice period for the merger will expire at midnight on Thursday16 June 2022 . Provided that no creditors have objected to the merger by such time, the merger is expected to be completed after close of trading on theOslo Stock Exchange on Friday17 June 2022 (the "Effective Date"), which accordingly will be the last day of trading in the AOW shares on Euronext Growth (Oslo ). Eligible shareholders in AOW (other thanAker Horizons ) will receive 0.1304 merger consideration shares inAker Horizons for each share owned in AOW as of the expiry of the Effective Date, as such shareholder appear in the shareholder register with Euronext Securities Oslo (the "VPS") as at the expiry of two trading days thereafter (the "Record Date"), expected to be Tuesday21 June 2022 . The consideration shares are expected to be delivered to the eligible shareholders through VPS on or about Wednesday22 June 2022 . Fractions of shares will not be allotted, and the number of consideration shares delivered to each eligible AOW shareholder will be rounded down to the nearest whole number. Excess shares, which as a result of this round down will not be allotted, will be issued to and sold byDNB Markets , a part ofDNB Bank ASA . The sales proceeds will be given toAker Horizons , which will give the sales proceeds further to charity. AdvisorsPareto Securities AS is engaged as financial adviser to AOW andAdvokatfirmaet Thommessen AS is acting as legal counsel to AOW.Advokatfirmaet BAHR AS is acting as legal counsel toAker Horizons . Investor contact:Tom Selwood , +44 (0)7743 502455, tom.selwood@akeroffshorewind.com Media contact:Maria Lanza Knudsen , +47 484 42 426, maria.knudsen@akeroffshorewind.com About Aker Offshore Wind Aker Offshore Wind is an offshore wind developer focused on assets in deep waters and specialized on floating energy systems. With global operations, the current portfolio consists of development projects and prospects located inAsia ,North America andEurope . Aker Offshore Wind effectively deploys cost effective technologies from decades of offshore energy development. The company is majority-owned byAker Horizons , an investment company dedicated to creating value and reducing emissions from renewable energy and decarbonization technologies. Aker Offshore Wind [AOW-ME] is listed on Euronext Growth inOslo, Norway .
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