Compliance With Applicable Sanctions and Export Controls

Doing business with integrity and in compliance with applicable laws and regulations is imperative. We are committed to operating with the highest standards of integrity, everywhere and always.

Aker Solutions AS and its subsidiaries ("Aker Solutions") strongly opposes Russia's invasion of Ukraine and expresses support to the Ukrainian people.

Our management is handling this event and its development proactively and has a strong focus on ensuring sanctions compliance in our own operations and our supply chain.

Aker Solutions hereby confirm that we act in accordance with any applicable sanctions, such as sanctions and export control laws and regulations imposed or enforced by Norway, the EU, UK, the U.S. and UN, when applicable to our business activities ("Sanctions Laws").

Aker Solutions has a robust sanctions compliance program, which has been in place for several years. As a company with global business operations, we continuously assess and address our sanctions risk exposure. In light of the escalation in sanctions targeting Russia, as well as Belarus and the non-governmental controlled Donetsk and Luhansk regions of Ukraine, we have taken actions to implement additional controls to mitigate the new sanctions risks. Such additional controls include, inter alia:

A mapping of our exposure to Russia – directly or indirectly
Monitoring of the escalation of sanctions
Risk assessment of projects with direct or indirect exposure to Russia or Russian parties
Implementation of risk mitigating measures as and when necessary

Should any sanctions risks be identified, such risks would be assessed and addressed immediately.

In light of the escalation in sanctions targeting Russia, Belarus as well as the non-governmental controlled Donetsk and Luhansk regions of Ukraine, we confirm that:

We do not, to the best of our knowledge, source or re-sell, directly or indirectly, any material which is contrary to import bans
We do not have any ongoing business with companies or individuals when such business is prohibited by any Sanctions Laws
We do not otherwise act contrary to any applicable Sanctions Laws

In addition, we have, as a policy decision ceased all bidding for new projects in Russia and have no ongoing project deliverables for projects in Russia.

Aker Solutions has shut down its office in Moscow. Its legal entity has been liquidated (as of September, 2023).