Aker BP delivered strong earnings and cash flow in the third quarter, driven by
efficient operations, higher sold volumes and strong realised prices. The
Yggdrasil and Valhall PWP-Fenris projects passed major offshore milestones and
remain on track for first production next summer, while the Skarv Satellites
Project came on stream in late August.

Highlights

  - Production: Net production was 374 mboepd, reflecting planned maintenance.
Full-year production guidance of 380-400 mboepd is reiterated.
  - Sales: Net sold volumes were 396 mboepd, up five percent from the previous
quarter.
  - Earnings and cash flow: EBITDA was USD 3.4 billion, and cash flow from
operations was USD 2.4 billion.
  - Net profit: USD 986 million, equivalent to USD 1.56 per share, including a
positive after-tax effect of USD 262 million from an impairment reversal.
  - Projects: Yggdrasil and Valhall PWP-Fenris progressed according to plan. The
Hugin B, Munin and Valhall PWP topsides were installed, all major subsea
components at Yggdrasil are now in place, and offshore hook-up and commissioning
are underway.
  - Skarv Satellites: Production commenced in late August, almost a year ahead
of the original schedule.
  - Financial position: The financial position remained robust, with a leverage
ratio of 0.50 and USD 5.8 billion in available liquidity.
  - Dividend: A quarterly dividend of USD 0.6615 per share is payable on or
about 12 November 2026.

Commenting on the results, CEO Karl Johnny Hersvik said:

"Aker BP delivered strong results in the third quarter, supported by safe and
reliable operations, higher sold volumes and strong realised prices. Our
financial position remains robust, with low leverage and substantial liquidity."

"Offshore, this was one of the most important quarters in our project history.
With the Hugin B, Munin and Valhall PWP topsides installed and all major subsea
components in place at Yggdrasil, we have entered the final phase towards start
-up of both Yggdrasil and Valhall PWP-Fenris next summer. I am particularly
pleased that the Skarv Satellites Project came on stream almost a year ahead of
the original schedule. This demonstrates our execution capabilities and the
value of developing new resources through existing infrastructure."

"As we look beyond the current project portfolio, we see substantial
opportunities for continued value creation on the Norwegian Continental Shelf.
We are strengthening our opportunity set through exploration and new
partnerships, while using technology, AI and a more integrated operating model
to unlock more resources and improve how we work. Our strategy remains
unchanged, but we are improving how we execute it to create even more
shareholder value."

Webcast presentation

The presentation will be webcast today at 08:30 CEST on
www.akerbp.com (https://www.akerbp.com/en), hosted by CEO Karl Johnny Hersvik
and CFO David Tønne. The presentation will be followed by an online Q&A session.

Investor contacts:
Kjetil Bakken, Head of IR, tel.: +47 918 89 889
Carl Christian Bachke, IR Officer, tel.: +47 909 80 848

Media contact:
Tore Langballe, VP Communications, tel.: +47 907 77 841

About Aker BP
Aker BP is a company engaged in exploration, field development and production of
oil and gas on the Norwegian continental shelf. The company operates the field
centres Alvheim, Eiga, Skarv, Ula and Valhall, operates Yggdrasil, which is
under development, and is a partner in the Johan Sverdrup field. Measured in
production, Aker BP is one of the largest independent oil companies in Europe.
Aker BP is headquartered at Fornebu and is listed on the Oslo Stock Exchange
under the ticker code AKRBP. More about Aker BP at
www.akerbp.com (https://www.akerbp.com/en).

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 of the Norwegian Securities Trading Act.

This stock exchange release was published by Kjetil Bakken, Head of Investor
Relations, Aker BP ASA, on 29 October 2026 at 06:00 CET.
ge release was published by Kjetil Bakken\, Head of Investor\
Relations\, Aker BP ASA\, on 29 October 2026 at 06:00 CET.\