Slide 1: 3Q 2025 Results
3Q 2025 October 31, 2025 Kjetel Digre, CEO Idar Eikrem, CFO
Slide 2: 3Q 2025 | Continued High Activity
3Q 2025 | Continued High Activity Revenue Excluding special items EBITDA Excluding special items 20 1.6 12% Financials 1.4 10% 15 1.2 1.0 9% 8% 8% 9% 8% ▪ Solid financial performance in period of high activity 8% 10 0.8 6% 0.6 4% ▪ Continued commercial discussions on legacy lump sum projects 5 0.4 2
Slide 3: 3Q 2025 | Operational Highlights
3Q 2025 | Operational Highlights Aker BP Projects Ormen Lange Phase 3 Norfolk HVDC Photo: Danny Arsenault/CBC Jackdaw Jansz-Io Svean Hydropower Plant Third-Quarter Results 2025 October 31, 2025 3
Slide 4: 3Q 2025 | Tender Activity of About NOK 75 billion
3Q 2025 | Tender Activity of About NOK 75 billion Tender Value Development NOK BILLION 90 60 Europe 30 67 NOK BILLION 0 Americas 3Q’23 4Q’23 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 4 NOK BILLION APAC Africa/ ME 4 1 NOK BILLION NOK BILLION * Not including SLB OneSubsea tenders Third-Quarter Results
Slide 5: Outlook
Outlook ▪ Continued high activity with a solid order backlog ▪ Focus on predictable project execution ▪ Adapting to changes in our underlying markets ▪ Scalable business model to handle changes in activity levels ▪ Key focus on improvement enabled by digitalization and AI ▪ Solid financial position
Slide 6: Financial Performance
Financial Performance October 31, 2025 Idar Eikrem, CFO
Slide 7: 3Q 2025 | Key Figures
3Q 2025 | Key Figures NOK million 3Q 2025 3Q 2024 2Q 2025 2024 Total revenue Total revenue ex. special items 16,983 16,983 13,184 13,181 15,155 15,157 53,201 53,193 Financials and Highlights Net income from OneSubsea 295 244 185 789 Total revenue excl. special items and Net income from OneSubsea 16,
Slide 8: 3Q 2025 | Cash Generation
3Q 2025 | Cash Generation Change in Cash and Cash Equivalents NOK MILLION Financials and Highlights ▪ Cash flow from operations of NOK 0.4 billion 548 ▪ Driven by solid operational performance ▪ NOK 548 million working capital reversal in period 1,490 515 46 2,496 94 142 30 ▪ CAPEX investments of NO
Slide 9: 3Q 2025 | Renewables and Field Development
3Q 2025 | Renewables and Field Development Revenue Excluding special items EBITDA Excluding special items 14 1,200 10% Financials and Highlights 12 1,000 8% 10 8% 8% 8% ▪ Revenue of NOK 12.5 billion in quarter 800 8% 7% 8 6% ▪ 36% increase compared to same period last year 600 6 4% 400 4 2 200 2% ▪
Slide 10: 3Q 2025 | Life Cycle
3Q 2025 | Life Cycle Revenue Excluding special items EBITDA Excluding special items 4.0 300 10% Financials and Highlights 3.5 250 8% 3.0 200 ▪ Revenue of NOK 3.8 billion in quarter 2.5 7% 7% 7% 7% 7% 6% 2.0 150 ▪ 10% increase from same period last year 1.5 4% 100 1.0 2% 0.5 50 ▪ EBITDA of NOK 275 mi
Slide 11: 3Q 2025 | SLB OneSubsea
3Q 2025 | SLB OneSubsea Revenue Excluding special items 1 EBITDA Excluding special items 1,2 Financials and Highlights 12 2.5 25% ▪ Revenue1 of NOK 9.9 billion in quarter 10 2.0 20% 20% 21% ▪ Year-to-date revenues of NOK 30.3 billion 8 18% 18% 1.5 17% 15% 6 ▪ EBITDA1,2 of NOK 1.8 billion in the quar
Slide 12: Summary Outlook
Summary Outlook ▪ Increased revenues in the quarter compared to ▪ Revenues in 2025 expected to exceed NOK 60 billion same period last year with EBITDA margins between 7.0% and 7.5% excluding net income from SLB OneSubsea ▪ Solid backlog of NOK 62 billion, key focus on delivering predictable project
Slide 13: We solve global energy challenges
Lk — | We solve global energy challenges gy for future generations &@ 4 ea EE ea
Slide 14: Additional Information
Additional Information October 31, 2025
Slide 15: 3Q 2025 | Order Intake and Backlog
3Q 2025 | Order Intake and Backlog Order Backlog by Execution Year NOK BILLION Order Backlog by Type NOK BILLION 30 29.0 25 9.7 20 17.6 15.1 15 5.8 3.5 10 18.6 5 11.4 11.1 0 4Q25 2026 2027 -> 1 2 3 4 Renewables and Field Development Life Cycle Other Alliance Reimbursable Lump Sum Renewables and Tran
Slide 16: Timing of Selected Large Projects in the Portfolio, by Segment
Timing of Selected Large Projects in the Portfolio, by Segment Renewables and Field Development Life Cycle Project Customer Award year Delivery year (est.) Project Customer Award year Delivery year (est.) Hugin A Platform Aker BP 2022 2026 Aker BP EMM /Modific. Alliance (FA) Aker BP 2024 2026 Hugin
Slide 17: Renewables and Transitional Energy Solutions
Renewables and Transitional Energy Solutions NOK million Revenue 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 Total revenue (excl. special items) 9,114 11,021 36,107 11,477 12,827 13,181 15,708 53,193 14,393 15,157 16,983 Renewables and Transitional Energy
Slide 18: Alternative Performance Measures
Alternative Performance Measures Basis for Preparation This presentation provides financial highlights for the quarter for Aker Solutions, a Norwegian limited company listed on the Oslo Stock Exchange. The same measurement principles as presented in the Annual Report 2024 have been used when prepari
Slide 19: Alternative Performance Measures
Alternative Performance Measures Profit Measures Renevables and Field Development Life Cycle Other/ Eliminations Aker Solutions NOK million 3Q 2025 3Q 2024 3Q 2025 3Q 2024 3Q 2025 3Q 2024 3Q 2025 3Q 2024 Revenue 12,517 9,217 3,796 3,453 374 269 16,687 12,940 EBITDA and EBIT terms are presented as th
Slide 20: Alternative Performance Measures
Alternative Performance Measures Financing Measures Alternative financing and equity measures are presented as they are indicators of the company’s Net interest-bearing debt to EBITDA (leverage ratio) is a key financial measure that is used ability to obtain financing and service its debts. by manag
Slide 21: Alternative Performance Measures
Alternative Performance Measures Order Intake Measures Order intake, order backlog and book-to-bill ratios are presented as alternative performance measures, as they are indicators of the company’s revenues and operations in the future. Order intake includes new agreed customer contracts in the peri
Slide 22: Special Items
Special Items NOK million Special items (EBITDA) 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 Restructuring 3 19 24 0 3 1 5 9 1 2 14 Non-qualifying hedges 3 -0 17 -2 0 -3 1 -3 5 2 3 Other special items 15 46 87 22 7 6 24 58 4 -3 1 Total special items EBITDA
Slide 23: Income Statement
Income Statement NOK million Income statement consolidated 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 Revenue 9,094 10,870 36,057 11,273 12,661 12,940 15,537 52,410 14,197 14,967 16,687 Net profit equity accounted investees 8 197 205 207 166 245 173 790 1
Slide 24: Cash Flow
Cash Flow NOK million Cash flow 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 EBITDA continuing operations 194 551 1,166 967 1,206 1,204 1,191 4,568 1,203 1,257 1,472 EBITDA discontinued operations 1,225 0 2,772 - - - - - - - - Change in cash flow from opera
Slide 25: Balance Sheet – Assets
Balance Sheet – Assets NOK million Assets 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 Property, plant and equipment 2,883 3,487 3,830 3,956 4,043 4,053 3,925 3,842 3,720 Intangible assets including Goodwill 3,413 3,563 3,536 3,510 3,514 3,487 3,459 3,430 3,428 Right-of-us
Slide 26: Balance Sheet – Liabilities and Equity
Balance Sheet – Liabilities and Equity NOK million Liabilities and equity 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 Total equity attributable to the parent 11,187 19,082 20,176 19,379 20,070 11,270 11,286 9,678 10,540 Non-controlling interests -56 -129 -134 -134 -141 -1
Slide 27: Split per Segment
Split per Segment NOK million Revenue 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 Renewables and Field Development 5,576 7,447 22,520 8,003 9,402 9,217 11,469 38,090 10,401 10,757 12,517 Life Cycle 3,249 3,547 13,072 3,031 2,988 3,453 3,776 13,249 3,518 3,
Slide 28: Split per Segment
Split per Segment NOK million NCOA 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 NCOA -6,631 -8,484 -8,774 -8,898 -7,655 -7,848 -7,576 -7,057 -6,509 Order intake 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 Renewables and Field Dev
Slide 29: Split per Segment – Excluding Special Items
Split per Segment – Excluding Special Items NOK million EBITDA (excl. special items) 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 Renewables and Field Development 239 362 979 617 887 774 820 3,097 870 829 1,008 Life Cycle 163 197 686 195 205 244 277 920 234
Slide 30: Order Backlog by Market
Order Backlog by Market NOK billion, % Order backlog by Market 3Q 2025 3Q 2024 Norway 69% 86% Europe 26% 8% Americas 1% 3% Asia Pacific 3% 2% Africa 1% 2% Total 100% 100% Total backlog (NOK billion) 61.7 64.7 Third-Quarter Results 2025 October 31, 2025 30
Slide 31: 3Q 2025 | SLB OneSubsea (US GAAP)
3Q 2025 | SLB OneSubsea (US GAAP) USD million Income statement 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 Revenue 1,021 1,021 930 1,018 1,002 947 3,897 934 939 946 EBITDA excl. special items1 194 194 164 198 184 164 710 191 195 174 EBITDA excl. special items marg
Slide 32: Aker Solutions
| Aker Solutions
Slide 33: Copyright and Disclaimer
Copyright and Disclaimer Copyright Copyright of all published material including photographs, drawings and images in this document remains vested in Aker Solutions and third party contributors as appropriate. Accordingly, neither the whole nor any part of this document shall be reproduced in any for