January 27, 2025 - Aker Solutions and SLB Capturi have been awarded a contract
for the carbon capture and storage solution at Hafslund Celsio's waste-to-energy
plant in Oslo, Norway. The contract will deliver a carbon capture plant, a
liquefaction system, temporary storage, and loading facility at the waste
incineration site. It also includes an intermediate CO2 storage and ship loading
system at Oslo harbour. The project is an important milestone in the development
of a full-scale CO2 value chain in Norway, as part of the Norwegian Government's
Longship project.

For Aker Solutions, this is a substantial[1] contract and the scope of work
includes the engineering, procurement, construction, installation, and
commissioning (EPCIC) of the onshore facilities. The project will mainly involve
our locations at Fornebu and Stord in Norway, and in Mumbai, India.

The waste-to-energy plant at Klemetsrud is the largest carbon emitter in Oslo
and is responsible for 19% of the capital's fossil carbon emissions. The project
will be delivered based on SLB Capturi's modularized Just CatchT 400 unit and
when operational, the carbon capture plant is expected to capture 350,000 metric
tonnes of CO2 per year. The space efficient Just Catch product design has been
fundamental to enabling a viable, cost-effective solution by reducing onsite
footprint, installation and outfitting work.

"Today marks a significant milestone for Aker Solutions and the CCUS industry in
Norway. We are proud to be part of this key project and look forward to
contributing to effective project execution, based on three decades of
experience in the CCS market. This project is a testament to important public
and private collaboration to build an industrial value chain for carbon capture
and storage. The project will also significantly contribute to reducing
emissions and will create value for both industry and society," said Kjetel
Digre, chief executive officer for Aker Solutions.

"Standardization and modularization play a key role in shifting the economics of
carbon capture projects," said Egil Fagerland, chief executive officer, SLB
Capturi. "We are extremely proud of our collaboration with Hafslund and Aker
Solutions to align our Just Catch plant design with the techno-economic
requirements of this project to help make it a reality. We look forward to
delivering this flagship project as a successful blueprint for industrial
decarbonization projects in Norway and across the globe."

"We are proud to have Aker Solutions and SLB Capturi with us to realize this
major industrial project. It provides security and strength to collaborate with
strong partners who have experience from carbon capture and storage from the
Longship project, and who bring extensive experience and expertise gained
through large industrial developments both in Norway and abroad. Together, we
will build a capture plant that will be operational by the fall of 2029," said
Martin S. Lundby, managing director at Hafslund Celsio.

The project will start in the first quarter of 2025 and is expected to be
completed by 2029. The contract has a balanced risk-reward profile with aligned
incentives for efficient and safe delivery. The contract will be booked as order
intake in the first quarter of 2025 in the Renewables and Field Development
segment.

[1]Aker Solutions defines a substantial contract as between NOK 2.5 billion and
NOK 4.0 billion

ENDS

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

Mari Djupvik Bråthen
media contact
Mari.Djupvik.Brathen@akersolutions.com
+47 957 05 437

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 15 countries.

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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 27, 2025 at 08:00 CEST.