Aker Offshore Wind AS: Disclosure of Large Shareholding

OSLO,Norway,March 30,2022 -- Reference is made to the recently announced contemplated merger between Aker Offshore Wind AS ("AOW"),AH Tretten AS,a subsidiary of Aker Horizons ASA,and Aker Horizons ASA (the "Merger"). To facilitate the triangular Merger,Aker Horizons ASA will transfer all of its indirect shareholding in AOW from its subsidiary,Aker Renewable Power AS,to AH Tretten AS,each at a price of NOK 2.5555 per share.

Following the transfer of the 346,262,406 shares held indirectly by Aker Horizons ASA,Aker Renewable Power AS will no longer have any ownership interest in AOW,AH Tretten AS will own 346,406 shares in AOW,corresponding to an ownership interest of approximately 51.02% and Aker Horizons ASA's indirect shareholding in AOW will accordingly remain unchanged.

This information is subject to the disclosure requirements set out in the Euronext Growth Rule Book - Part I,section 4.3.1.

Investor contact:

Tom Selwood,+44 (0)7743 502455,tom.selwood@akeroffshorewind.com

Media contact:

Maria Lanza Knudsen,+47484 42 426,maria.knudsen@akeroffshorewind.com

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