Dutch engineering and fabrication contractor Heerema Fabrication Group Vlissingen has been hired by Aker BP
for the procurement and construction of a jacket destined for a platform, which will be deployed at a recently
sanctioned development in the North Sea offshore Norway.

Aker BP has awarded a contract for the procurement and construction of the Munin jacket in the Yggdrasil area
to Heerema Fabrication Group's Vlissingen yard in the Netherlands. The contract was signed on 23 May 2023
and the jacket delivery is slated for 2025. Aibel is in charge of delivering the topsides for the Munin unmanned
production platform in the northern part of the Yggdrasil area in the North Sea.

Peter Kupka, Aker BP's Project Director, remarked: “This is an important contract for the Yggdrasil development.
With this award, we have placed all major fixed facilities contracts in the Yggdrasil area, and we are in line with
our execution plan. Heerema Fabrication Group Vlissingen is an experienced international contractor with a solid
track record. I am very pleased that they will contribute to Yggdrasil and look forward to starting the execution
phase for the Munin jacket.”

Furthermore, Aker Solutions is expected to do the detailed engineering of the jacket, which will be fabricated at
the Heerema yard in Vlissingen. The jacket procurement activities are expected to start in the autumn while the
construction is set to start at the beginning of 2024.

Richard Spronk, Heerema Fabrication Group Vlissingen's Yard Director, commented: “We are very pleased to be
awarded this contract by Aker BP for the procurement and construction of the Munin jacket. Constructing
sizeable jackets is core business for Heerema Fabrication Group and we are looking forward to working together
with Aker BP on this project.”

While the Munin jacket weighs 5.800 tonnes, its height is 130 meters, and it will be installed in a water depth of
105 metres with eight piles of 60 metres used to secure the jacket to the seabed. The installation of the jacket is
planned for 2025, and Aker BP has secured lifting capacity for all the installations in the Yggdrasil area.

“We have now secured the execution plan for the Munin jacket from start of engineering to installation. Heerema
will also be responsible for the installation of the jacket performed under a separate contract between Aker BP
and Heerema Marine Contractors. Well done to all involved,” added Kupka.

This jacket deal comes on the heels of Aker BP's announcement about a new oil discovery situated in the
Yggdrasil area, which is anticipated to enhance the resource base for the Yggdrasil development, consisting of
the Hugin, Fulla and Munin licence groups. This area is located between Alvheim and Oseberg in the North Sea
and contains a total of around 650 million barrels of oil equivalent.

Aker BP and its partners, Equinor and PGNiG Upstream Norway, made a final investment decision to develop
the Yggdrasil area in December 2022 and submitted plans for development and operation (PDOs) to the
Norwegian Ministry of Petroleum and Energy. The total investments for the Yggdrasil project are estimated at
NOK 115 billion or over $10.4 billion.

While Aker BP entered agreements amounting to over NOK 50 billion (more than $4.5 billion) with alliance
partners and suppliers, all agreements and contracts are conditional on the Norwegian authorities approving the
PDOs.