April 29, 2024 - Aker Solutions has been awarded a substantial[1] EPCIC-contract
by Equinor to upgrade the wastewater treatment plant facilities and lower the
environmental impact of the Mongstad refinery on the west coast of Norway.

The Mongstad refinery, situated 70 km north of Bergen, is closely integrated
with an oil-terminal connected to multiple oilfields in the North Sea. It also
interfaces with crude tankers that are docked at the port. The refinery has
wastewater treatment plant (WWTP) facilities that are designed to treat water
from the refinery, offsite sources and the oil terminal.

Mongstad plays an important role in the distribution of Norwegian oil and gas,
with a long production horizon ahead.

"Equinor's goal is to reduce emissions significantly from the Mongstad refinery.
This matches our aim to enable our customers to increase efficiency and minimize
emissions in their operations, and ensure safe and responsible production", said
Paal Eikeseth, executive vice president and head of Aker Solutions' Life Cycle
segment.

Aker Solutions will be in charge of project management, engineering,
procurement, construction and installation work, and commissioning in an EPCIC
contract.

Our engineering office in Bergen will be the main location for project
management, engineering,?and procurement work. In addition, Aker Solutions'
Mumbai office will be involved in engineering. Prefabrication and assembly work
will be done from the Egersund?yard, while the Stord yard will be responsible
for providing construction personnel to the Mongstad site.?The project will
employ over 500 employees at its peak.

Aker Solutions previously announced another contract award by Equinor to conduct
a feasibility study for its Mongstad Industrial Transformation project.

The project will start right away and is expected to be completed in the fourth
quarter of 2026.

The contract will be booked as order intake in the second quarter of 2024 in the
Life Cycle 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

Ruth Lycke
media contact
ruth.lycke@akersolutions.com
+47 906 65 931

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 11,000
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, Communications, Aker
Solutions, on April 29, 2024 at 16:00 CEST.