Aker Horizons ASA: Half-year results 2025

15 Jul 2025 07:00 CEST

Aker Horizons ASA (OSE: "AKH"), a developer of green energy and industry, today
announced results for the first half of 2025.

In the first half of 2025, Aker Horizons announced structural changes to the
group. On 9 May 2025, Aker Horizons announced a proposed merger of its
subsidiary Aker Horizons Holding with Aker MergerCo, a subsidiary of Aker ASA,
against consideration in the form of shares in Aker ASA and cash. Aker Horizons
Holding encompasses all business activities of the Aker Horizons group,
including its shareholding in Aker Carbon Capture ASA (ACC), the investments in
Mainstream Renewable Power and SuperNode, and the properties in Narvik. On the
same day, ACC announced the sale of its 20 percent ownership interest in SLB
Capturi to a subsidiary of Aker ASA. The independent transactions are the
outcome of a comprehensive strategic review of alternatives for a refinancing of
Aker Horizons. The ACC transaction closed on 14 May 2025. The Aker Horizons
merger is expected to be completed during August 2025.

Shareholders in AKH (other than Aker Capital) will upon completion of the merger
receive merger consideration in the form of NOK 0.267963 in cash and 0.001898
shares in Aker ASA for each share owned in AKH.

After completion of the merger, AKH will have a cash position of approximately
NOK 20 million, convertible debt and a corresponding receivable from Aker
MergerCo of NOK 1.6 billion and remain listed on the Oslo Stock Exchange. Since
the merger is between Aker Horizons Holding and Aker MergerCo, shareholders in
AKH will retain their shares in AKH following completion of the merger. The
Board will work on defining AKH's future strategy and structure following
completion of the merger and will revert with an update once the Board has
concluded in this respect.

Consolidated net loss from continuing operations in H1 2025 was NOK 338 million,
mainly related to interest cost and loss on foreign exchange hedges in the
period.

The business to be merged with Aker is presented as discontinued operations and
held-for-sale in the H1 2025 accounts. Consolidated net loss from discontinued
operations in H1 2025 was NOK 1,863 million and includes certain non-recurring
items, such as a loss of NOK 263 million related to ACC's sale of the remaining
20 percent shareholding in SLB Capturi AS and write-down of certain offshore
wind assets in Mainstream of NOK 466 million as a result of the decision to
perform an accelerated exit from offshore wind projects where this is deemed
commercially beneficial.

ENDS

The half-year 2025 report is attached.

For further information, please contact:

Jonas Gamre, Investor Relations, tel: +47 97 11 82 92,
email: jonas.gamre@akerhorizons.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements in
Regulation EU 596/2014 and the Norwegian Securities Trading Act § 5-12. This
stock exchange announcement was published by Mats Ektvedt, Partner in Corporate
Communications, on 15 July 2025 at 07:00 CET.

More information:
Access the news on Oslo Bors NewsWeb site

651270_Aker_Horizons_Half_Year_Report_2025.pdf