Akastor ASA: Award of shares under variable pay program

20 Jan 2025 14:00 CET

Fornebu, 20 January 2025 - Akastor ASA (OSE: AKAST) (the "Company") has today
awarded 372 105 shares under the Company's variable pay program to those
employees who elected payment in shares.

In accordance with the terms and conditions of the program, the number of shares
awarded was calculated based on the Company's average volume weighted share
price on Euronext Oslo Børs over the three last trading days up to and including
17 January 2025, being NOK 12.9577 per share, less a 18 per cent discount due to
the shares being subject to a two-year lock-up period from the date of delivery.

The following primary insiders were awarded shares under the program:

Karl Erik Kjelstad (CEO), was through his company Byesvollen AS awarded 162 285
shares and now owns a total of 862 285 shares.

Øyvind Paaske (CFO) was awarded 70 026 shares and now holds a total of 205 109
shares.

Eirik Thomassen (EVP & General Counsel) was awarded 47 373 shares.

Please see attached notifications for persons discharging managerial
responsibilities in Akastor in accordance with Regulation EU 596/2014 (MAR)
article 19.

Following the transaction, Akastor ASA holds a total of 1 441 869 own shares.

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
Regulation EU 596/2014 (MAR) article 19, cf. section 5-12 of 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.

More information:
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636801_Notification_form_Primary_insiders.pdf