Aker ASA reports fourth quarter results 2025

13 Feb 2026 07:00 CET

The Net Asset Value ("NAV") of Aker ASA and holding companies ("Aker") was NOK
67.3 billion at the end of the fourth quarter 2025 (NOK 905 per share), after
dividends paid, compared to NOK 67.5 billion at the end of the third quarter.
Aker distributed a dividend of NOK 2.0 billion in the quarter. Aker's Board of
Directors proposes to pay a cash dividend of NOK 29 per share for the fiscal
year 2025 and, in-line with previous years' practice, will propose an
authorization to pay an additional cash dividend in the second half of 2026.

In the fourth quarter, Aker continued to deliver on its strategy of a more
focused portfolio, with increased diversification and investments in new
pillars of growth.

Aker's NAV was NOK 905 per share at quarter-end. Listed investments accounted
for NOK 768, Unlisted investments NOK 263, and Cash & other assets NOK 38 per
share. The share price at quarter-end was NOK 768.

For the full year, Aker's NAV increased to NOK 67.3 billion, up 22.4% incl.
NOK 3.9 billion dividends paid. The total shareholder return was 49.5% (OSEBX:
18.4%, Brent: -18.7%)

"2025 was a pivotal year for Aker -- not just in the results we delivered, but
in the shift we made as a company. We created greater scale and a more
diversified portfolio, reduced our dependence on commodity cycles, and saw
real momentum in areas that will define the next decade. Our progress in AI
and compute -- through Cognite and Nscale -- shows how industrial experience
can translate into entirely new sources of value. These steps, combined with
the outperformance across the portfolio, have strengthened Aker structurally.
We enter 2026 with a clearer strategic direction and the capacity to act with
much greater ambition," said Øyvind Eriksen, President & CEO of Aker ASA.

Key events, Q4-2025

* Obtained 9.3% ownership in Nscale
* Obtained 50% ownership in Aker Nscale
* PPI acquired NOK 37bn portfolio in landmark transaction with SBB
* Increased ownership to 33.9% in the enlarged PPI
* Sold the shareholding in SalMar
* Paid NOK 2.0bn in dividends
* Aker BP projects on-schedule, 2025 production at 420 mboepd
* Cognite with continued strong AI momentum

Key financials, Q4-2025

* GAV: NOK 79.4bn
* Listed investments: NOK 57.0bn
* Unlisted investments: NOK 19.5bn
* Other assets & Cash: NOK 2.8bn
* NAV: NOK 67.3bn
* NAV per share: NOK 905
* Share price: NOK 768
* Dividend paid: NOK 26.50 per share (NOK 2.0bn)
* Liquidity: NOK 5.9bn*

(*of which NOK 0.9bn cash and liquid funds, incl. undrawn credit facilities)

Full-year 2025

* NAV increased from NOK 58.2bn to NOK 67.3bn
* NAV per share increased from NOK 783 to NOK 905
* Total shareholder return: +49.5% (incl. dividends paid)
* compared to OSEBX: +18.4%, Brent oil price -18.7%
* Dividends paid: NOK 3.9 billion or NOK 53 per share, up from NOK 51 per
share the year before

The webcast presentation will be held today at 09:00 CET at
www.akerasa.com/webcast. All material, incl. Excel-file, will be available at
www.akerasa.com (http://www.akerasa.com/)

-ENDS-

(mboepd = thousand barrels of oil equivalent per day)

Media contact:
Atle Kigen, Head of Media Relations and Public Affairs
+47 90 78 48 78
atle.kigen@akerasa.coms

Investor contact:
Fredrik Berge, Head of Investor Relations
+47 45 03 20 90
fredrik.berge@akerasa.com

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication,
through the agency of the contact persons set out above, at 2026-02-13 07:00
CET.

More information:
Access the news on Oslo Bors NewsWeb site

665762_Aker ASA 4Q 2025 Presentation.pdf
665762_Aker ASA Q4 2025 CEO Letter.pdf