Aker ASA: Third Quarter Results 2023 - Net Asset Value of NOK 64.1 billion

The Net Asset Value ("NAV") of Aker ASA and holding companies ("Aker") was NOK
64.1 billion at the end of the third quarter 2023, up NOK 6.9 billion (or 12.1
percent) from NOK 57.2 billion at the end of the second quarter. Aker's Board of
Directors has approved to pay an additional cash dividend of NOK 15.0 per share
in the fourth quarter, bringing the total dividend to NOK 30.0 per share for the
full year.

"Looking back on an extraordinary third quarter through Aker lenses, we
experienced strong operations and high activity across the portfolio as we
continued to progress on our strategy. We are continuing into the final months
of the year executing on growth projects, driving progress towards higher and
more sustainable energy production, leveraging new and existing partnerships,
focusing on further diversification of upstream dividends, and continuously
finding ways to develop and deploy digital solutions," said Øyvind Eriksen,
President & CEO of Aker ASA.

Important strategic developments have taken place across the Aker portfolio in
recent months, in-line with Aker's strategy and focus on long-term value
creation. AMSC sold its entire Jones Act Fleet during the third quarter and paid
a dividend of USD 170 million following the transaction, after quarter-end.
Also, shortly after quarter-end, Aker Solutions closed the OneSubsea JV
transaction, marking what is a historic milestone for the company. "OneSubsea
will, in my view, be the most prosperous subsea company in the world, measured
not only by the quality of its offerings but also its customer base and global
reach with the largest installed base of subsea trees in the industry" said
Eriksen.

Another significant milestone after quarter-end was Aker's agreement with
Solstad Offshore, AMSC and Solstad's secured lenders for an overall refinancing
of Solstad. "This will establish a robust industrial platform with significantly
reduced financial risk, one of the most modern fleets of high-end vessels and a
healthy balance sheet including NOK 4 billion of new equity. The company has a
clear ambition to initiate quarterly dividend payments already in 2024, which
will further strengthen and diversify upstream dividends in Aker," said Eriksen.

Financial highlights - third quarter 2023:

  · NAV of NOK 64.1 billion, up NOK 6.9 billion from NOK 57.2 billion at the end
of the second quarter
  · NAV per-share of NOK 862, compared to NOK 770 at the end of the second
quarter
  · GAV of NOK 73.1 billion, up NOK 6.8 billion from NOK 66.3 billion at the end
of the second quarter
  · Share price at NOK 659.5, an increase of 8.4 percent in the quarter. During
the same period, the Oslo Stock Exchange's benchmark index ("OSEBX") increased
6.3 percent and the Brent oil price increased 22.6 percent
  · Value-adjusted equity ratio of 88 percent, compared to 86 percent at the end
of the second quarter
  · Liquidity reserve, including undrawn credit facilities, at NOK 6.9 billion,
including NOK 1.5 billion of cash
  · The Industrial Holdings portfolio increased to NOK 60.2 billion, from NOK
54.1 billion at the end of the second quarter, mainly related to value increases
in Aker BP, Aker Solutions, partly offset by a value reduction in Aker Horizons
  · The Financial Investments portfolio increased to NOK 12.9 billion, from NOK
12.2 billion at the end of the second quarter, mainly related to increase in
cash

For further information or questions following the presentation, please email
the relevant contact below. The quarterly presentation and material are
available at www.akerasa.com and www.newsweb.no

- END -

Media contact
Atle Kigen, Head of Media Relations and Public Affairs Aker ASA
Tel: [phone]
E-mail: [e-mail]

Investor contact
Fredrik Berge, Head of Investor Relations Aker ASA
Tel: [phone]
E-mail: [e-mail]

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Laila Hop, Paralegal, Aker
ASA, on November 03, 2023, at 07:00 CET.

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