Akastor ASA: AKOFS Offshore AS signs contract for Aker Wayfarer

20 Feb 2026 07:00 CET

Akastor ASA's (OSE: AKAST) 66.7% owned affiliate AKOFS Offshore AS (AKOFS
Offshore) has signed a firm contract for its vessel "Aker Wayfarer" following
a competitive tender process. The vessel will continue to perform services as
a Subsea Equipment Support Vessel (SESV) for Petróleo Brasileiro S.A.
(Petrobras) in Brazil. The contract has a duration of four years, with
operations expected to commence in September 2027, following the expiry of the
current contract and necessary preparations for the new engagement. AKOFS
Offshore will conduct the "Aker Wayfarer" operations in collaboration with its
partners Bravante for marine services and Oceaneering for ROV services.

The total contract value of the "Aker Wayfarer" contract is USD 330 million,
of which about USD 213 million will be revenue allocated to AKOFS Offshore and
included in the company's backlog.

Adjusted for the abovementioned, AKOFS Offshore's total contract backlog
amounts to approximately USD 752 million per end of January 2026.

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 AKOFS Offshore:

AKOFS Offshore is a provider of vessel-based subsea well construction and
intervention services to the oil and gas industry. The company operates three
specialized offshore vessels, AKOFS Santos, Aker Wayfarer and AKOFS Seafarer,
with the first two vessels contracted to Petrobras for work in Brazil and the
last one contracted to Equinor for work on the Norwegian Continental Shelf.
The company employed 360 people as per the end of 2025. AKOFS Offshore is
owned by Akastor AS (2/3) and Mitsui O.S.K. Lines, Ltd. (1/3).

For further information, please visit homepage: www.akofsoffshore.com

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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