Company Name

AKER BP

ISIN

NO0010345853

Market

Oslo Børs

Symbol

AKRBP

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN,
OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Aker BP is pleased to announce that it has now received all necessary approvals
from the Norwegian Ministry of Petroleum and Energy, the Norwegian Ministry of
Finance and the Norwegian Competition Authority, for the completion of the
contemplated merger between Aker BP and Lundin Energy's E&P business.

As previously communicated the completion of the merger is expected to occur on
30 June 2022. The merger was approved by the shareholders of Lundin Energy and
Aker BP, respectively, at Lundin Energy's AGM on 31 March 2022 and Aker BP's AGM
on 5 April 2022.

Further details as to the exact timeline for the completion of the merger and
information regarding settlement will be provided closer to the completion date.

For further details of the merger, please visit the Aker BP website:
https://www.akerbp.com.

Contacts:
Kjetil Bakken, VP Investor Relations, tel.: +47 918 89 889
Ole-Johan Faret, Press Spokesperson, tel.: +47 402 24 217

IMPORTANT INFORMATION
For the purposes of this disclaimer, "this press release" means this document,
its contents or any part of them, any oral presentation, any question and answer
session and any written or oral materials discussed or distributed therein. This
communication does not constitute notice to a general meeting or a merger
document, nor shall it constitute an offer to sell or the solicitation or
invitation of any offer to buy, acquire or subscribe for, any securities or an
inducement to enter into investment activity, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of
any such jurisdiction. Any decision with respect to the proposed statutory
merger of Aker BP and Target, a newly established Swedish public limited
liability company currently wholly-owned by Lundin Energy in accordance with the
Norwegian Companies Act and the Swedish Companies Act should be made solely on
the basis of information to be contained in the actual notices to the general
meetings of Aker BP and Lundin Energy, as applicable, and the merger document
related to the Merger as well as on an independent analysis of the information
contained therein. You should consult the merger document, which will be
available prior to the general meeting of shareholders at which the matters set
out herein will be subject to vote, for more complete information about the
Merger. You should also perform an independent analysis of the information
contained therein and the merger document when making any investment decision.

This press release contains forward-looking statements. By their nature, forward
-looking statements involve known and unknown risks, uncertainties, assumptions
and other factors because they relate to events and depend on circumstances that
will occur in the future whether or not outside the control of each respective
company or the combined company. Such factors may cause actual results,
performance or developments to differ materially from those expressed or implied
by such forward-looking statements. Although managements of each respective
company believe that their expectations reflected in the forward-looking
statements are reasonable based on information currently available to them, no
assurance is given that such forward-looking statements will prove to have been
correct. You should not place undue reliance on forward-looking statements. They
speak only as at the date of this press release and neither Aker BP nor Lundin
Energy undertakes any obligation to update these forward-looking statements.
Past performance of Aker BP and Lundin Energy does not guarantee or predict
future performance of the combined company. Moreover, Aker BP, Lundin Energy and
their respective affiliates and their respective officers, employees and agents
do not undertake any obligation to review, update or confirm expectations or
estimates or to release any revisions to any forward-looking statements to
reflect events that occur or circumstances that arise in relation to the content
of the presentation. Additionally, there can be no certainty that the Merger
will be completed in the manner and timeframe described in this press release,
or at all.

Excluded jurisdictions
No offer in relation to the Merger is not being made, directly or indirectly, in
or into Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or
Switzerland (the "Excluded Jurisdictions") or in any other jurisdiction where
such offer pursuant to legislation and regulations in such relevant jurisdiction
would be prohibited by applicable law, by use of mail or any other communication
means or instrumentality (including, without limitation, facsimile transmission,
electronic mail, telex, telephone and the Internet) of interstate or foreign
commerce, or of any facility of national securities exchange or other trading
venue, of the Excluded Jurisdictions, and the offer relating to the Merger
cannot be accepted by any such use or by such means, instrumentality or facility
of, in or from, the Excluded Jurisdictions. Accordingly, this press release or
any documentation relating to the Merger are not being and should not be sent,
mailed or otherwise distributed or forwarded in or into the Excluded
Jurisdictions. This press release is not being, and must not be, sent to
shareholders with registered addresses in the Excluded Jurisdictions. Banks,
brokers, dealers and other nominees holding shares for persons in the Excluded
Jurisdictions must not forward this press release or any other document received
in connection with the Merger to such persons.

The information made available in this press release is not an offer of Aker BP
shares to be issued in the Merger is approved or any solicitation of votes in
connection with the Merger. The shares have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and
may not be offered, sold or delivered within or into the United States, except
pursuant to an applicable exemption of, or in a transaction not subject to, the
Securities Act. There will be no public offering of securities in the United
States.

The information made available in this press release does not constitute an
offer of or an invitation by or on behalf of, Aker BP or Lundin Energy, or any
other person, to purchase any securities.

The information and documents contained in this press release are not being made
and have not been approved by an authorized person for the purposes of section
21 of the UK Financial Services and Markets Act 2000 (the "FSMA"). Accordingly,
the information and documents contained in this press release are not being
distributed to, and must not be passed on to, the general public in the United
Kingdom. The communication of the information and documents contained in this
press release is exempt from the restriction on financial promotions under
section 21 of the FSMA on the basis that it is a communication by or on behalf
of a body corporate which relates to a transaction to acquire day to day control
of the affairs of a body corporate; or to acquire 50 per cent or more of the
voting shares in a body corporate, within article 62 of the UK Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005.

About Aker BP:
Aker BP is an independent E&P company with exploration, development and
production activities on the Norwegian Continental Shelf. Aker BP is the
operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The
company is also a partner in the Johan Sverdrup field. Aker BP is headquartered
at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker
'AKRBP'. More about Aker BP at www.akerbp.com.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

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