No Objections From the Norwegian Competition Authority Regarding AF Gruppen’s and Aker Solutions’ Proposed Decommissioning Joint Venture

Reference is made to the stock exchange announcement on July 1, 2021, regarding the letter of intent to merge the two companies’ existing offshore decommissioning operations.

The Norwegian Competition Authority has today informed the companies that they have no objections to the merger.

The transaction is subject to due diligence and final board approvals, expected to be completed during the fourth quarter of 2021.

ENDS

Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 15,000 people in more than 20 countries.

Visit akersolutions.com and connect with us on Facebook, Instagram, LinkedIn, Twitter and YouTube.

This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com

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