Transaction Combining Mainstream and Aker Offshore Wind Has Closed

FORNEBU,Norway,Aug. 9,2022 --The transaction to combine Mainstream Renewable Power ("Mainstream") and Aker Offshore Wind to create a stronger renewable energy company with a 27 GW portfolio has closed.

As previously communicated on 12 July 2022,Aker Horizons entered into an agreement with Aker Mainstream Renewables,a holding company co-owned by Aker Horizons,Mitsui & Co.,Ltd. and Irish minority shareholders,to integrate Aker Horizons' wholly-owned subsidiary Aker Offshore Wind into the Mainstream group. The transaction has now closed.

In parallel with the combination of the two companies,a number of Mainstream's minority shareholders participated in a further issuance of shares,raising approximately EUR 6 million in new capital.

Following closing of the transaction,Aker Horizons' ownership in Mainstream is approximately 58.4 percent,Ltd. 24.9 percent,with remaining shares being held by Irish minority shareholders.

ENDS

CONTACT:

For further information,please contact:

Ivar Simensen,Communications,Tel: +47 46 40 23 17,ivar.simensen@akerhorizons.com

Christian Yggeseth,Investor Relations,Tel: +47 915 10 000,christian.yggeseth@akerhorizons.com

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https://news.cision.com/aker-horizons/r/transaction-combining-mainstream-and-aker-offshore-wind-has-closed,c3611913