Akastor ASA – Variable Pay Program

Fornebu, 12 January 2023 – Certain corporate managers in Akastor ASA (AKAST) have today purchased 171,190 shares in Akastor ASA as part of the company's variable pay program. The shares were purchased at a trading value which was based on the average volume weighted share price on the Oslo Børs over the 3 last trading days giving a price/value per share of NOK 9.5863. The shares purchased are subject to a two-year lock-up period from the date of delivery, in return for a 20 percent price reduction offered on the trading value of the shares.

The following persons discharging managerial responsibilities in Akastor ASA (primary insiders) have purchased shares:

Karl Erik Kjelstad (CEO) has through his company Byesvollen AS purchased 100,000 shares and now holds a total of 700,000 shares.

Øyvind Paaske (CFO) has purchased 30,000 shares and now holds a total of 135,083 shares.

Jing Li Taklo (Head of Group Financial Reporting) has purchased 15,000 shares and now holds a total of 35,302 shares.

Akastor sold a total of 171,190 own shares in connection with the variable pay program. Following the transaction, Akastor holds a total of 1,813,974 own shares.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

E-mail: oyvind.paaske@akastor.com

This information is subject to the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 19, cf section 5.12 of the Norwegian securities trading act.

Please see attached notifications for persons discharging managerial responsibilities in Akastor in accordance with Regulation EU 596/2014 (MAR) article 19.