Aker Solutions ASA: Aker Solutions Awarded Contract for BalWin 1 Offshore Wind Project

10 Feb 2025 18:43 CET

February 10, 2025 - Aker Solutions has signed a significant[1] contract with
Dragados Offshore to deliver the steel substructure for the 2GW HVDC converter
station for the BalWin1 offshore wind grid connection system in Germany, for
Amprion Offshore GmbH. The contract also includes an option for the BalWin 2
steel substructure.

Each of the BalWin 1 and BalWin 2 grid connection systems consist of a 2.0
Gigawatt HVDC offshore and onshore substation for the transmission of renewable
electrical energy. Amprion Offshore GmbH is the transmission system operator
responsible for these systems. With a total transmission capacity of 4 GW, the
Balwin 1 and 2 projects can supply enough electricity to power a major city like
Berlin.

"We are proud that Dragados Offshore has selected Aker Solutions as the
contractor for the BalWin 1 steel substructure. We have over decades developed
substantial expertise and track record for delivering predictable execution of
demanding projects. The new contract is aligned with our strategy to grow our
activities within renewables and low-carbon projects," said Sturla Magnus,
Executive Vice President for Aker Solutions' New Build segment.

Fabrication of the HVDC substructures will be executed by Aker Solutions' yard
in Verdal, Norway. At its peak, the project will employ over 500 people.  For
Aker Solutions, the scope involves procurement, method engineering and
construction of the offshore HVDC converter platform substructures. Preparation
for procurement and method engineering will commence immediately, while
construction is scheduled to begin in early 2026, with deliveries in 2028 and
2029.

Aker Solutions will book the award, excluding option value, as order intake in
the first quarter of 2025 in the Renewables and Field Development segment.

[1]Aker Solutions defines a 'significant' contract as being between NOK 1.5
billion and NOK 2.5 billion

ENDS

Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611

Hallvard Norum
media contact
hallvard.norum@akersolutions.com
+47 913 80 820

Aker Solutions delivers integrated solutions, products and services to the
global energy industry. We enable low-carbon oil and gas production and develop
renewable solutions to meet future energy needs. By combining innovative digital
solutions and predictable project execution we accelerate the transition to
sustainable energy production. Aker Solutions employs approximately 11,800
people in more than 15 countries.

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This press release may include forward-looking information or statements and is
subject to our disclaimer, see https://akersolutions.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Svend Thürmer, Senior Advisor,
Communications, Aker Solutions, on February 10, 2025 at 18:42 CET.

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