Akastor ASA: HMH appoints Dan Rabun as Chairman of the Board of Directors

21 Oct 2024 15:14 CEST

Akastor ASA's (OSE: AKAST) 50% owned affiliate HMH Holding B.V. ("HMH")
has today announced that Mr. Daniel "Dan" W. Rabun has been appointed as
Chairman of the Board of Directors effective October 21, 2024.

Mr. Rabun is a seasoned executive with extensive leadership experience across
multiple industries, having held key roles such as CEO, Chairman, and Board
member at major companies, including Ensco plc, Golar LNG Ltd, ChampionX
Corporation, Borr Drilling, and APA Corporation.

A copy of HMH's announcement with further details can be found on their
webpage; https://hmhw.com/news/.

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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About HMH

HMH is a premier drilling solutions provider, which was formed as an independent
company in October 2021 through the merger of Baker Hughes' (Nasdaq: BKR) Subsea
Drilling Systems business and Akastor ASA's wholly owned subsidiary, MHWirth AS.
HMH is a leading provider of highly engineered, mission-critical equipment
solutions, providing customers with a comprehensive portfolio of drilling
equipment, services and systems utilized in oil and gas drilling operations,
both offshore and onshore. HMH's global reach, technical expertise and
innovative product offerings, coupled with its integrated operations from
manufacturing to aftermarket services, allow HMH to provide customers with first
class technology, engineering and project management services through the entire
asset lifecycle of the equipment it provides. In addition, HMH is growing its
portfolio of products and services to adjacent industries, such as mining. The
complexity and criticality of HMH's installed equipment drive customers to
choose HMH for their aftermarket support, particularly in the offshore
environment, which is subject to extensive regulation. For further information,
please visit homepage: https://hmhw.com/

About Akastor

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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