Akastor ASA: Akastor transfers shares to managers under variable pay program

Fornebu, 11 January 2022 - Akastor ASA (AKAST) has today transferred 405,051 own shares as payment under the company's variable pay program to certain corporate managers. Following the transaction, Akastor ASA holds a total of 1,985,164 own shares. The shares were transferred at a trading value which was based on the average volume weighted share price on the Oslo Børs (the stock exchange in Oslo) over the 3 last trading days giving a price/value per share of NOK 5.7075.

The shares transferred 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 primary insiders have received shares as per the above:

Karl Erik Kjelstad (CEO) has through his company Byesvollen AS received 200,000 shares and now holds a total of 600,000 shares.

Øyvind Paaske (CFO) has received 100,000 shares and now holds a total of 105,083 shares.

Paal E. Johnsen (Investment Director) has received 33,505 shares.

Jing Li Taklo (Head of Group Financial Reporting) has received 20,302 shares.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

E-mail: [email protected]

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.