New Board of Directors and New Share Capital

Reference is made to the stock exchange announcement made by Aker Solutions ASA (“Aker Solutions”) earlier today regarding the expiration of the creditor notice period for the merger (the “Merger”) with Kværner ASA (“Kvaerner”) and the Board of Directors’ resolution to complete the Merger.

The Merger has now been completed by registration in the Norwegian Register of Business Enterprises. The Merger contemplates that Aker Solutions will absorb all the assets, rights and obligations of Kvaerner and that Kvaerner is dissolved.

As a result, and in accordance with the resolutions made by the extraordinary general meeting held on September 25, 2020, the following changes have also taken effect:

New Board of Directors (shareholder-elected):

• Leif-Arne Langøy (chairman)
• Kjell Inge Røkke
• Øyvind Eriksen
• Birgit Aagaard-Svendsen
• Lone Fønss Schrøder
• Thorhild Widvey
• Jan Arve Haugan

New Share Capital
As a result of the Merger, Aker Solutions has issued 220,122,700 new ordinary shares as merger consideration (the “Consideration Shares”), and its new share capital is NOK 531,540,456.12 divided into 492,167,089 shares, each having a nominal value of NOK 1.08.