Termination of SDR programme and buyback of shares

On 5 June 2023, Aker BP announced its intention to terminate its Swedish Depository Receipt (SDR) programme, and that it had entered into an irrevocable agreement with Skandinaviska Enskilda Banken AB (publ) Oslofilialen (SEB) to acquire the outstanding Aker BP shares representing the remaining SDRs.

The price to be paid was agreed to be the volume-weighted average share price (VWAP) based on all transactions carried out and reported on the Oslo Stock Exchange for the period starting on market opening on 26 June 2023 and ending after market close on 7 July 2023.

The pricing period has now ended, resulting in a VWAP of NOK 254.1734. The number of shares remaining under the SDR programme is 1,361,646.

As a result, Aker BP will now purchase 1,361,646 own shares for a total consideration of NOK 346,094,193.42 (NOK 254.1734 per share). After this transaction, Aker BP holds 1,590,711 own shares, representing 0.25 percent of the company's share capital.

Payment to the SDR holders is expected to take place on or about 14 July 2023, as previously announced.

Contacts:
Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889

About Aker BP:
Aker BP is a company engaged in exploration, field development and production of oil and gas on the Norwegian continental shelf. The company operates the field centres Alvheim, Edvard Grieg, Ivar Aasen, Skarv, Ula and Valhall, and is a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on Oslo Børs under the ticker AKRBP. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and requirements under the EU Market Abuse Regulation.