January 15, 2025 - Aker Solutions, in a consortium with Siemens Energy, has
reached an important milestone by receiving the full notice to proceed from RWE
for the Norfolk Vanguard West and East offshore wind farms.

The Norfolk Vanguard West and East represent the first phase of RWE's Norfolk
Offshore Wind Zone, which also includes the Norfolk Boreas developments. Once
complete, the Norfolk Offshore Wind Zone will produce enough renewable
electricity to power more than four million homes.

Aker Solutions has provided work for the projects under a limited notice to
proceed announced in November 2023. The full notice to proceed represents a
significant milestone, and underscores Aker Solutions' ambition to contribute to
the global energy transition.

"We are proud to be a key partner in this important energy project, which
represents a significant source of renewable energy and a major step in Europe's
energy transformation," said Sturla Magnus, Executive Vice President for Aker
Solutions' New Build segment.

"The project also aligns with Aker Solutions' strategy to expand our activities
in renewables and energy transition projects, reinforcing our position as a
leader in sustainable energy solutions."

The project is being executed through a consortium consisting of Aker Solutions
and Siemens Energy. Aker Solutions' scope includes engineering, procurement,
construction and installation (EPCI) of the high voltage direct current (HVDC)
offshore platform, while Siemens Energy is responsible for the onshore station
as well as the high voltage equipment in the offshore substations. The joint
venture between Aker Solutions and Drydocks World will deliver the two HVDC
platforms. Fabrication of the platform topsides will be executed by Drydocks
World in Dubai, UAE, while the fabrication of the substructure will be executed
by Aker Solutions' yard in Verdal, Norway.

Project execution has started, with engineering and procurement activities
ongoing for both platform topsides and substructures. Fabrication of the Norfolk
Vanguard West platform started at Drydocks World in April of this year, while
fabrication of the Norfolk Vanguard East platform is scheduled to begin in the
second quarter of 2025.

The platforms will be delivered and installed in 2027 and 2028. Before offshore
installation, they will be towed to Aker Solutions' Stord yard for final
preparations, including transfer from transportation vessel to heavy lift
vessel.

The contract has a balanced risk-reward profile based on principles for long
-term collaboration with aligned incentives for efficient and safe delivery.

Aker Solutions will at this stage book the award as a major[1] order intake in
the first quarter of 2025, in the Renewables and Field Development segment,
representing the remaining contract value for the two projects.

[1] Aker Solutions defines a major contract as being between NOK 8.0 billion and
NOK 12.0 billion

ENDS

Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611

Odd Naustdal
media contact
odd.naustdal@akersolutions.com
+47 905 76 079

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 11,700
people in more than 15countries.

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

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 release was published by Svend Thürmer, Senior Advisor,
Communications, Aker Solutions, on January 15, 2025 at 15:15 CEST.