Slide 1: Second quarter and half-year results 2022
Second quarter and half-year results 2022 17 August 2022 AKER ASA | Second quarter and half-year results 2022 17.08.2022 1
Slide 2: Highlights
Highlights ▪ Net asset value: Decrease of 3.7%, including dividends paid, in the quarter, to NOK 72.0 billion. Per-share NAV amounted to NOK 968. ▪ Return: Aker share price decreased 4.9%, adjusted for dividend, in the quarter to NOK 756 vs. OSEBX down 7.2% and the Brent price down 3.1%. ▪ Liquidity
Slide 3: Net asset value down 3.7% in the quarter to NOK 72.0 billion
Aker ASA and holding companies Net asset value down 3.7% in the quarter to NOK 72.0 billion Net asset value change in 2Q 2022 Net asset value change in 1H 2022 NOK billion NOK billion 1Q22 74.7 4Q21 69.8 Aker BP 2.1 Aker BP 10.6 Aker Energy 0.0 Aker Solutions 0.6 Cognite 0.0 Other 0.3 SalMar Aker Oc
Slide 4: NAV per share at NOK 968, value adjusted equity 88%
Aker ASA and holding companies NAV per share at NOK 968, value adjusted equity 88% NAV per share vs. share price NAV composition NOK per share NOK billion, per 2Q 2022 1,200 81.6 1,100 1,006 968 976 1,000 953 939 901 900 800 Industrial Holdings 700 72.0bn Other Financial Investments 600 86% 70.1 88%
Slide 5: Portfolio composition
Aker ASA and holding companies Portfolio composition Portfolio composition Gross asset value distribution NOK billion, per 2Q 2022 Per 2Q 2022 (1Q 2022) Listed investments Real estate 1% (1%) Maritime assets 1% (0%) Unlisted investments Other 3% (3%) Cash 2% (5%) Industrial Holdings Financial Invest
Slide 6: Aker's portfolio of listed Industrial Holdings
Listed Industrial Holdings Aker’s portfolio of listed Industrial Holdings - Share of Aker’s GAV in circle (gold colour) – return in the quarter (incl. received dividend) inside the circle - and key highlights +4.8% -29.7% • Revenues of USD 2.0 billion and operating profit of USD 1.1 billion. • Compl
Slide 7: Aker's portfolio of non-listed Industrial Holdings
Non-listed Industrial Holdings Aker’s portfolio of non-listed Industrial Holdings Industrial software and digitalization portfolio E&P company in Ghana Seafood • Reported NOK 199 million in revenues in the • Reported NOK 109 million in revenues in the • Aker Energy has completed FEED and • SalMar Ak
Slide 8: Financial Investments
Financial Investments AKER ASA | Second quarter and half-year results 2022 17.08.2022 8
Slide 9: Overview
Financial Investments Overview % of gross asset value (30.06.2022) Value of NOK 11.5 billion 14% NOK billion 13 12 11 Other financial investments 10 9 Real estate 8 7 Listed financial investments 6 5 Cash 4 3 2 1 0 31.12.21 31.03.22 30.06.22 AKER ASA | Second quarter and half-year results 2022 17.08
Slide 10: Cash
Financial Investments Cash % of gross asset value (30.06.2022) Value of NOK 2.0 billion 2% ▪ Cash down NOK 2.4 billion in the quarter to NOK 2.0 billion: + NOK 670 million cash dividend received + NOK 141 million loan repayment from Aker Energy – NOK 1 077 million dividend paid – NOK 1 050 million i
Slide 11: Listed financial investments
Financial Investments Listed financial investments % of gross asset value (30.06.2022) Value of NOK 2.3 billion 3% Aker’s investments ▪ Value increase of investments in Akastor and Solstad 4Q 21 1Q 22 2Q 22 Offshore of NOK 15 million and NOK 241 million, NOK million respectively. Akastor 537 823 838
Slide 12: Real estate and other financial investments
Financial Investments Real estate and other financial investments % of gross asset value (30.06.2022) Value of NOK 7.2 billion 9% ▪ Interest-bearing receivables include a NOK 2 billion loan and a NOK 1.2 billion convertible loan to Aker Horizons. Aker’s investments NOK million 4Q 21 1Q 22 2Q 22 ▪ Lo
Slide 13: Financial Statements
Financial Statements AKER ASA | Second quarter and half-year results 2022 17.08.2022 13
Slide 14: Balance sheet at 30.06.2022
Aker ASA and holding companies Balance sheet at 30.06.2022 Value-adjusted (MNOK) 81 607 Book value (MNOK) 9 656 71 951 45 094 45 094 29 137 26 857 2 035 4 339 246 755 Tangible and non- Interest-bearing assets Non interest-bearing Cash and cash Investments Liabilities Shareholders tangible fixed asse
Slide 15: Interest-bearing items as of 30.06.2022
Aker ASA and holding companies Interest-bearing items as of 30.06.2022 NOK million NOK million 10,000 4500 4000 Bank loans 9,000 3500 Bonds 8,000 Net interest-bearing debt of NOK 3.1 billion 3000 7,000 2500 6,000 2000 1500 5,000 1000 4,000 AKER 14 AKER 15 500 AKER AKER 14AKER 09 15 AKER 09 3,000 0 C
Slide 16: Income statement
Aker ASA and holding companies Income statement Amounts in NOK million 2Q 2021 2Q 2022 1H 2021 1H 2022 Year 2021 Operating revenues - - - - 4 072 Operating expenses (68) (94) (143) (203) (369) EBITDA (68) (94) (143) (203) 3 703 Depreciation and impairment (8) (8) (15) (16) (31) Value change 78 (2 08
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Slide 18: Disclaimer
Disclaimer • This Document includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Document are based on current expectations, estimates and projections about glo