Akastor ASA

TekBot · februar 12, 2026, 6:00am

Akastor ASA: Fourth Quarter Results 2025

Fourth Quarter Highlights:

A cash dividend of NOK 0.40 per share was approved, supported by the
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realization of Skandi Atlantic from DDW Offshore and fully aligned with
Akastor’s strategy to return excess capital to shareholders.

HMH delivered adjusted EBITDA of USD 58 million with a 28% margin, driven by
cost efficiencies and inventory optimization, and generated USD 66 million
in Free Cash Flow in the quarter.

AKOFS Offshore maintained strong operational performance, with all vessels
delivering high utilization. The company secured a new four-year MPSV
contract for AKOFS Santos, supported by an extension of its current
agreement to January 2027, and Aker Wayfarer was nominated for a new
four-year SESV contract with Petrobras.

DDW Offshore completed a refinancing of its term loan during the quarter,
reducing future financing costs, and finalized the sale of Skandi Atlantic
for USD 22.75 million post quarter end.

Net capital employed increased by NOK 50 million during the quarter to NOK
4.5 billion, with equity at NOK 5.3 billion at year end, corresponding to
NOK 19.5 per share.

Akastor CEO Karl Erik Kjelstad comments:

“We are pleased to announce yet another dividend payment for the fourth
quarter, supported by the realization of Skandi Atlantic in January. This
marks our third consecutive distribution and reflects our continued commitment
to returning excess capital to shareholders. HMH delivered another strong
quarter with solid cash generation and further improvements in margins,
underscoring the resilience of the business and its ability to create value
through cost and efficiency initiatives. We also saw positive contract
developments in AKOFS Offshore and increased financial flexibility in DDW
Offshore following the refinancing of its term loan. Together, these
developments strengthen our portfolio and support Akastor’s long term
value creation ambitions.”

HMH

HMH reported revenues of USD 206 million in the quarter, with an adjusted
EBITDA of USD 58 million, corresponding to an adjusted EBITDA margin of 28%,
reflecting continued cost efficiencies and the positive impact of inventory
optimization.

Revenues from Aftermarket Services were USD 103 million, relatively flat
year on year and down 2% quarter on quarter, driven by contract services with
partial offset from repairs and digital technology. Order intake for the
quarter was USD 75 million, down year on year and quarter on quarter,
primarily impacted by lower repair activity and digital technology services.

Revenues from Spares were USD 58 million, broadly unchanged from the prior
quarter and down year on year, reflecting the flat environment in the global
offshore market. Order intake ended at USD 56 million, down year on year due
to reduced pressure control spares, with a slight quarter on quarter rebound
in topside and pressure control spares offset by lower land spares activity.

Revenues from Projects, Products & Other were USD 46 million in the quarter,
down year on year and quarter on quarter, mainly driven by lower product and
project activity entering the period.

AKOFS Offshore

AKOFS Offshore reported revenues of USD 38 million and EBITDA of USD 11
million for the quarter.

Operational performance remained solid across the fleet, with Aker Wayfarer
and AKOFS Santos delivering revenue utilization of 97% and 85%, respectively.
AKOFS Seafarer achieved a revenue utilization of 86%, supported by stable
operations but impacted by periods of waiting on weather.

From a commercial perspective, the quarter also saw important developments.
AKOFS Santos was formally awarded a new four year MPSV contract with
Petrobras, and an amendment was signed in January 2026 extending the existing
contract to January 2027, ensuring a seamless transition into the new
agreement expected to commence in 1Q 2027. In addition, Aker Wayfarer was
nominated for the award of a four year SESV contract with Petrobras,
anticipated to start in Q3 2027, subject to final signing.

DDW Offshore
DDW Offshore reported revenues of NOK 105 million and EBITDA of NOK 18 million
for the quarter, down from the same period last year, reflecting lower fleet
utilization and off hire costs in the period.

Skandi Atlantic and Skandi Peregrino remained on contract in Australia
throughout the quarter, delivering 100% and 89% revenue utilization,
respectively. Skandi Peregrino’s utilization was impacted by 10 days off hire
due to an actuator replacement. During the quarter, Skandi Emerald demobilized
to Singapore following the end of its previous long term contract and operated
in the short term spot market, resulting in 60% revenue utilization in the
fourth quarter. The vessel is currently in Singapore undergoing its five year
Special Periodic Survey (SPS).

Post quarter end, DDW Offshore completed the sale of Skandi Atlantic for USD
22.75 million, significantly above book value.

Financial holdings
Net financials were negative NOK 39 million in the quarter, driven by negative
contribution from our financial holdings, partly offset by non-cash net
foreign exchange gain of NOK 18 million.

Share of net profit from equity-accounted investments contributed positively
with NOK 62 million, of which HMH contributed positively with NOK 72 million.
Akastor no longer recognizes losses from AKOFS Offshore after the equity
investment was reduced to zero in Q3 2025.

Consolidated financial figures
Please note that Akastor’s consolidated revenue and EBITDA include earnings
from subsidiaries, which represent a minor portion of the company’s total Net
Capital Employed. As a result, the most relevant indicator of Akastor’s value
development is the financial performance of its largest investments, such as
HMH, NES Fircroft, and AKOFS Offshore.

With this in mind, Akastor reported consolidated revenues of NOK 106 million
and EBITDA of NOK 2 million. Net profit in the quarter was NOK 13 million.

Financial calendar
First Quarter Results 2026: April 29, 2026

Media Contact
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.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.

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
announcement was published by Jing Li Taklo, Head of Financial Reporting,
Akastor ASA, on February 12, 2026, at 07:00 CET.

Kilde

TekBot · februar 12, 2026, 6:01am

Akastor ASA: Declaration of extraordinary cash dividend

Fornebu, 12 February 2026 - Akastor ASA’s (OSE: AKAST) board of directors has,
based on the authorisation granted by the General Meeting on 24 April 2025,
decided to pay a cash dividend to Akastor ASA’s shareholders of NOK 0.4 per
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share (in total about NOK 110 million), based on the 2024 annual accounts. The
distribution will be classified as a repayment of paid-in capital.

Key information relating to the dividend payment:

Extraordinary cash dividend: 0.4 per share
Declared currency: NOK
Last day including rights: 13 February 2026
Ex-date: 16 February 2026
Record date: 17 February 2026
Payment date: on or about 23 February 2026
Date of approval: 11 February 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
Regulation EU 596/2014 (MAR) article 19, cf section 5-12 of the Norwegian
securities trading act and contains information deemed to constitute inside
information pursuant to MAR. This information is further published in
accordance with the requirements of the Continuing Obligations of Euronext
Oslo Børs.

This announcement was published by Jing Li Taklo, Head of Financial Reporting
in Akastor ASA at 07:00 (CET) on 12 February 2026.

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.

Kilde

TekBot · februar 16, 2026, 6:01am

AKAST: Ex-dividend NOK 0.4 today

TekBot · februar 20, 2026, 6:02am

Akastor ASA: AKOFS Offshore AS signs contract for Aker Wayfarer

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
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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.

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.

Kilde

TekBot · mars 20, 2026, 6:01am

Akastor ASA: Annual Report 2025

TekBot · mars 20, 2026, 6:02am

Akastor ASA: Notice of Annual General Meeting

The Annual General Meeting of Akastor ASA (OSE: AKAST) will be held on Tuesday
14 April 2026 at 10:00 (CEST).

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The general meeting will be held as a digital meeting only, with no physical
attendance for shareholders. Voting will be handled online during the meeting.
No pre-registration is needed for attending online, but attendees must be
logged in before the meeting starts.

Information about log-in details for the meeting is available in the notice of
the annual general meeting and on www.akastor.com. The web page also includes
a guide for online participation. Online voting in advance of the meeting is
also possible. The deadline for advance voting is 10 April 2026, at 16:00
(CEST).

Please find attached the following documents:

Notice of Annual General Meeting 2026 (including proxy forms)

Proposed resolutions

Remuneration Report 2025

Proposal from the Nomination Committee

Revised and updated Articles of Association

Guideline for online participation

All the documents to be processed at the general meeting are available at the
company’s website www.akastor.com.

For further information, please contact:

Eirik Thomassen
EVP & General Counsel
Mobile: +47 99 51 35 80
E-mail: eirik.thomassen@akastor.com

This information is subject to the disclosure requirements pursuant to section
5-12, cf. section 5-9 (2) and (3), of the Norwegian Securities Trading Act, as
well as section 5-10 of the Norwegian Public Limited Liability Companies Act.

Kilde

TekBot · mars 23, 2026, 8:05pm

Akastor ASA: HMH announces launch of initial public offering (IPO)

Akastor ASA’s (together with its subsidiaries, “Akastor”) (OSE: AKAST)
indirect 50% owned affiliate HMH Holding Inc. (including its subsidiaries at
closing of the IPO, “HMH”) has today announced that it has launched the
…

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initial public offering of 10,520,000 shares of its Class A common stock (the
“IPO”). Total number of shares in HMH will be 44,000,000. The IPO price is
expected to be between USD 19 and USD 22 per share. HMH has applied to list
its shares of Class A common stock on The Nasdaq Global Select Market under
the ticker symbol “HMH”.

J.P. Morgan, Piper Sandler and Evercore ISI are acting as joint lead
book-running managers for the IPO, and Citigroup and DNB Carnegie are acting
as joint book-running managers for the IPO. Stifel, Nordea and Pickering
Energy Partners are acting as co-managers for the IPO.

Following the IPO, it is expected that part of the IPO proceeds received by
HMH will be allocated to repayment of all outstanding amounts under
shareholder loans, of which approximately USD 27 million is expected to be net
payable to Akastor.

In connection with the IPO, it is intended that Akastor will reduce its
ownership in HMH by exchanging a portion of its ownership interests in HMH for
approximately USD 20.2 million in net cash proceeds (assuming the midpoint of
the IPO price range). Further, the underwriters will have a 30-day option to
purchase up to 1,578,000 additional shares of Class A common stock from HMH at
the IPO price, less underwriting discounts and commissions, and if exercised
in full, will result in further reduction of Akastor’s ownership interests in
HMH against net cash proceeds to Akastor of up to approximately USD 15.2
million (assuming the midpoint of the IPO price range). Following completion
of the IPO, it is expected that Akastor’s equity interest in HMH will be
between approximately 37% and 35%, depending on whether the underwriters
exercise their option to purchase additional shares.

Akastor has in connection with the IPO agreed to a lock-up of its ownership
interests in HMH for a period of 180 days, subject to certain exemptions.

Completion of the IPO is subject to customary closing conditions.

The IPO will be made only by means of a prospectus. A registration statement
relating to HMH Class A common stock has been filed with the Securities and
Exchange Commission (“SEC”) but has not yet become effective. These securities
may not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.
When available, to obtain a copy of the prospectus free of charge, visit the
SEC website, www.sec.gov (http://www.sec.gov/), and search under the
registrant’s name, “HMH Holding Inc.”

For further information about the IPO, HMH and Akastor’s ownership in HMH,
including the HMH prospectus and the registration statement, reference is made
to the separate announcement issued by HMH which is available on HMH’s
website: Investors - HMH.

For further information, please contact:

Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.com

This information is considered to be inside information pursuant to article 7
of the EU Market Abuse Regulation and is subject to the disclosure
requirements pursuant to article 17 of the EU Market Abuse Regulation and
Section 5-12 the Norwegian Securities Trading Act. This stock exchange release
was published by Eirik Thomassen, EVP & General Counsel, on 23 March 2026 at
21:05 CET.

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

# #

About HMH
HMH is a leading provider of highly engineered, mission-critical equipment
solutions, providing customers with a comprehensive portfolio of drilling
equipment, services and systems utilized in oil and gas drilling operations,
both offshore and onshore. HMH’s global reach, technical expertise and
innovative product offerings, coupled with its integrated operations from
manufacturing to aftermarket services, allow HMH to provide customers with
first class technology, engineering and project management services through
the entire asset lifecycle of the equipment it provides. In addition, HMH is
growing its portfolio of products and services to adjacent industries, such as
mining. The complexity and criticality of HMH’s installed equipment drive
customers to choose HMH for their aftermarket support, particularly in the
offshore environment, which is subject to extensive regulation.

HMH was formed as an independent company in October 2021 through the merger of
Baker Hughes’ (Nasdaq: BKR) Subsea Drilling Systems business and Akastor ASA’s
wholly owned subsidiary, MHWirth AS.

For further information, please visit homepage: https://hmhw.com/

About Akastor
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.

For further information, please visit homepage: https://akastor.com/

Forward-Looking Statements

The information in this press release includes forward-looking statements
within the meaning of the federal securities laws. These statements generally
relate to future events or our future financial or operating performance and
include statements regarding the expected size and results of the initial
public offering. When used in this press release, words such as “expect,”
“intend,” “may,” “will,” the negative of these terms and similar expressions
are intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. Forward-looking
statements are based on management’s current expectations and assumptions, and
are subject to inherent uncertainties, risks and changes in circumstances that
are difficult to predict. As a result, actual results could differ materially
from those indicated in these forward-looking statements. When considering
these forward-looking statements, you should keep in mind the risk factors and
other cautionary statements in HMH’s prospectus. Akastor undertakes no
obligation and does not intend to update these forward-looking statements to
reflect events or circumstances occurring after this press release, except as
required by law. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release.

Kilde

Fartin · mars 24, 2026, 10:53pm

Dette er jo en vanvittig rabatt på nav.

Om hmh noteres på dette nivået blir vel akastors andel lik hele dagens verdi av akastor.

Floppen · mars 25, 2026, 7:30pm

Fin gjennomgang her:

Ellers ikke noe nytt fra SEC siden 23mars. EDGAR Entity Landing Page

Disclaimer: Er min største investering p.t.

Fartin · mars 25, 2026, 9:07pm

Virker jo som en trygg investering.ingen nedside.

Floppen · mars 25, 2026, 9:40pm

Det har ligget i kortene lenge, og de har nå over tid bevist at de er i stand til å realisere eiendeler til verdier over bokført.

TekBot · mars 31, 2026, 8:30pm

Akastor ASA: HMH announces pricing of initial public offering (IPO)

Reference is made to Akastor ASA’s (together with its subsidiaries, “Akastor”)
(OSE: AKAST) announcement dated 23 March 2026 concerning the launch of the
initial public offering (the “IPO”) of its indirect 50% owned affiliate HMH
…

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Holding Inc. (including its subsidiaries at closing of the IPO, “HMH”). HMH
has today announced that it has priced the IPO of 10,520,000 shares of its
Class A common stock at USD 20 per share.

At completion of the IPO, Akastor will reduce its ownership in HMH to
approximately 37% (prior to any exercise of the underwriters’ option mentioned
below) by exchanging a portion of its ownership interests in HMH for payment
of approximately USD 19.7 million in net cash proceeds.

Additionally, the underwriters will have a 30-day option to purchase up to an
additional 1,578,000 shares of Class A common stock at the IPO price, less
underwriting discounts and commissions, and which, if exercised in full, will
further reduce Akastor’s ownership in HMH down to approximately 35% in return
for net cash proceeds of about USD 14.8 million.

The shares of Class A common stock are expected to begin trading on The Nasdaq
Global Select Market on 1 April 2026 under the ticker symbol “HMH,” and the
offering is expected to close on 2 April 2026, subject to customary closing
conditions.

Akastor has in connection with the IPO agreed to a lock-up of its ownership
interests in HMH for a period of 180 days, subject to certain exemptions.

For further information about the IPO, HMH and Akastor’s ownership in HMH,
including the HMH prospectus and the registration statement, reference is made
to the separate announcement issued by HMH which is available on HMH’s
website: Investors - HMH.

A registration statement relating to these securities was declared effective
by the U.S. Securities and Exchange Commission (“SEC”) on 31 March 2026. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state
or jurisdiction. To obtain a copy of the prospectus free of charge, visit the
SEC website, www.sec.gov (http://www.sec.gov/), and search under the
registrant’s name, “HMH Holding Inc.”.

For further information, please contact:

Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.com

This information is considered to be inside information pursuant to article 7
of the EU Market Abuse Regulation and is subject to the disclosure
requirements pursuant to article 17 of the EU Market Abuse Regulation and
Section 5-12 the Norwegian Securities Trading Act. This stock exchange release
was published by Eirik Thomassen, EVP & General Counsel of Akastor at 22:30
(CET) 31 March 2026.

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

# #

About HMH
HMH is a leading provider of highly engineered, mission-critical equipment
solutions, providing customers with a comprehensive portfolio of drilling
equipment, services and systems utilized in oil and gas drilling operations,
both offshore and onshore. HMH’s global reach, technical expertise and
innovative product offerings, coupled with its integrated operations from
manufacturing to aftermarket services, allow HMH to provide customers with
first class technology, engineering and project management services through
the entire asset lifecycle of the equipment it provides. In addition, HMH is
growing its portfolio of products and services to adjacent industries, such as
mining. The complexity and criticality of HMH’s installed equipment drive
customers to choose HMH for their aftermarket support, particularly in the
offshore environment, which is subject to extensive regulation.

HMH was formed as an independent company in October 2021 through the merger of
Baker Hughes’ (Nasdaq: BKR) Subsea Drilling Systems business and Akastor ASA’s
wholly owned subsidiary, MHWirth AS.

For further information, please visit homepage: https://hmhw.com/

About Akastor
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.

For further information, please visit homepage: https://akastor.com/

Forward-Looking Statements

The information in this press release includes forward-looking statements
within the meaning of the federal securities laws. These statements generally
relate to future events or our future financial or operating performance and
include statements regarding the expected size and results of the initial
public offering. When used in this press release, words such as “expect,”
“intend,” “may,” “will,” the negative of these terms and similar expressions
are intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. Forward-looking
statements are based on management’s current expectations and assumptions, and
are subject to inherent uncertainties, risks and changes in circumstances that
are difficult to predict. As a result, actual results could differ materially
from those indicated in these forward-looking statements. When considering
these forward-looking statements, you should keep in mind the risk factors and
other cautionary statements in HMH’s prospectus. Akastor undertakes no
obligation and does not intend to update these forward-looking statements to
reflect events or circumstances occurring after this press release, except as
required by law. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release.

Kilde

TekBot · april 2, 2026, 8:03pm

Akastor ASA: Closing of initial public offering (IPO) by HMH

Reference is made to Akastor ASA’s (together with its subsidiaries, “Akastor”)
(OSE: AKAST) announcement dated 31 March 2026 concerning pricing of the
initial public offering (the “IPO”) of its indirect affiliate HMH Holding Inc.
…

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(including its subsidiaries at closing of the IPO, “HMH”). HMH has now closed
its IPO of 10,520,000 shares of its Class A common stock.

The shares of HMH’s Class A common stock began trading on The Nasdaq Global
Select Market on 1 April 2026 under the ticker symbol “HMH.”

Akastor’s total net receivable from repayment of shareholder loans and
proceeds from the IPO is about USD 46.8 million. Akastor’s remaining equity
interest in HMH has been reduced down to about 37%. The underwriters have a
30-day option to purchase up to an additional 1,578,000 shares of Class A
common stock at the IPO price, less underwriting discounts and commissions,
which may further reduce Akastor’s equity interest down to about 35% (if
exercised in full).

A registration statement relating to these securities was declared effective
by the U.S. Securities and Exchange Commission (“SEC”) on 31 March 2026. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state
or jurisdiction. To obtain a copy of the prospectus free of charge, visit the
SEC website, www.sec.gov (http://www.sec.gov/), and search under the
registrant’s name, “HMH Holding Inc.”.

HMH’s board of directors consists of seven directors in total, including Karl
Erik Kjelstad (CEO of Akastor) and Svein Oskar Stoknes (CFO in Aker ASA and
director on the board of Akastor). In this capacity, Kjelstad and Stoknes are
entitled to director compensation from HMH, as further described in the
prospectus filed by HMH with the SEC, which includes certain restricted stock
units (“RSUs”) in HMH that will vest on the day prior to HMH’s first annual
meeting of stockholders in 2027 following which each of Kjelstad and Stoknes,
subject to certain conditions, will receive 8,486 shares of HMH’s Class A
common stock. The HMH shares are currently considered to be linked to the
shares in Akastor, cf. the Market Abuse Regulation (“MAR”) article 19. Please
see attached notification forms in accordance with MAR article 19.

For further information about the IPO, HMH and Akastor’s ownership in HMH,
including the HMH prospectus and the registration statement, reference is made
to the separate announcement issued by HMH which is available on HMH’s
website: Investors - HMH.

Advokatfirmaet BAHR AS and Cravath, Swaine & Moore LLP are acting as legal
advisors to Akastor in connection with the IPO.

For further information, please contact:

Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.com

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act and article of the Market Abuse
Regulations (“MAR”).

# #

About HMH
HMH is a leading provider of highly engineered, mission-critical equipment
solutions, providing customers with a comprehensive portfolio of drilling
equipment, services and systems utilized in oil and gas drilling operations,
both offshore and onshore. HMH’s global reach, technical expertise and
innovative product offerings, coupled with its integrated operations from
manufacturing to aftermarket services, allow HMH to provide customers with
first class technology, engineering and project management services through
the entire asset lifecycle of the equipment it provides. In addition, HMH is
growing its portfolio of products and services to adjacent industries, such as
mining. The complexity and criticality of HMH’s installed equipment drive
customers to choose HMH for their aftermarket support, particularly in the
offshore environment, which is subject to extensive regulation.

HMH was formed as an independent company in October 2021 through the merger of
Baker Hughes’ (Nasdaq: BKR) Subsea Drilling Systems business and Akastor ASA’s
wholly owned subsidiary, MHWirth AS. The shares of HMH’s Class A common stock
began trading on The Nasdaq Global Select Market on 1 April 2026 under the
ticker symbol “HMH.”

For further information, please visit homepage: https://hmhw.com/

About Akastor
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.

For further information, please visit homepage: https://akastor.com/

Kilde