Akastor : Q1 2023 presentation

▪ Agreement with ABL Group re. sale of all shares in AGR

against a combination of shares in ABL and cash

▪ Akastor holds around 5% of ABL after closing of transaction

in April 2023

▪ Strong order intake in period with 20% growth year-on-year

driven by upgrades for rigs

▪ Secured strategic orders for digital technology upgrades and

equipment overhauls in quarter

▪ AKOFS Santos commenced its new three-year contract in the

quarter, after a period of delay related to deliveries from sub-

supplier

▪ NES Fircroft revenues increased by 16% y-on-y driven by

Other

growth across all client industries. EBITDA of USD 27m in

period.

10.9

2.1

2.5

2.1

0.8

-1.3

17.1

-1.7

15.3

230

(352)

565

(475)

690

562

4 677

4 202

2 982

DRU

Other

Net Capital

NIBD

Equity

contracts

Employed

• AGR sold to Norway-listed ABL Group

against combination of ABL shares and

cash, with transaction closed on April 18th,

2023

• AGR term loans towards DNB and Nordea

settled as part of the transaction

Offers independent energy and marine consultancy to

6,055,556 shares

the global renewables, maritime and oil and gas

~4.9% ownership

sectors. Listed on Oslo Børs

• Akastor to retain 1/3 of the consideration

shares (6,055,556), which equals an

ownership in ABL of about 4.9%, as well as

parts of the cash consideration

• Akastor will also retain ownership of

assets that are excluded from the ABL

transaction

• Transaction completed above book value

with an estimated accounting gain of

approximately NOK 100 million, which will

be booked in Q2 2023

Cash &

Ownership in SpotOn Energy Holding (20% ownership)

Net cash position of approximately NOK 30m (net of transaction cost and

Other

contribution to banks)

DRU

Financial interest in four drilling

equipment contracts with Jurong Shipyard

contracts

Full economic interest3)