Akastor ASA: Odfjell Drilling Ltd shares received pursuant to Warrant Agreement

31 May 2024 09:19 CEST

Akastor ASA's (OSE: AKAST) subsidiary Akastor AS has today received 3,023,886
shares in Odfjell Drilling Ltd. (OSE:ODL), pursuant to a warrant investment
agreement that was entered into in 2018. The subscription price paid for the
shares was USD 0.01 per share. Reference is made to Akastor's announcement 27
April 2018.

The shares received represent a total value of NOK 169 million based on ODL
share price at close of trading Thursday 30 May 2024.

The warrant structure carried a book value of NOK 56 million per end of Q1 2024,
which will be replaced by the fair value of the received shares in Odfjell
Drilling in Akastor's Q2 2024 financials.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

Oyvind.paaske@akastor.com

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

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Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

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