Aker Offshore Wind remains committed to its strategy and to developing its
international project portfolio following the ScotWind leasing round where the
company did not secure any project licenses.

"We are of course disappointed at the outcome of the ScotWind process, but
remain ardent believers in the potential of floating offshore wind and Aker
Offshore Wind's technology and system capabilities to industrialize this
segment. Aker Offshore Wind is an integral part of the future we see unfolding,
where hybrid deliveries are a key differentiating factor for Aker Horizons as a
planet-positive group," said Kristian Røkke, Chairman of Aker Offshore Wind and
Chief Executive Officer of Aker Horizons.

Aker Offshore Wind brings together proven offshore technology and capabilities,
a strong organization, and a promising portfolio of projects. The company
expects to see its pipeline mature across several markets during 2022:

  · In South Korea, the company's consortium with Ocean Winds has secured
exclusive rights from the city of Ulsan to explore the development of three
offshore areas for up to 1.2 GW, progressing the projects toward the first FID
as early as 2024-25. The South Korean projects are anticipated to be among the
first large-scale floating wind farms globally.

  · In Norway, the company has formed partnerships for bottom fixed with global
energy major bp and Statkraft, Europe's largest renewable energy producer, and
with Statkraft and Ocean Winds for floating wind ahead of the licence processes
that are expected to commence later in 2022.

  · Aker Offshore Wind and its partners are undertaking environmental impact
assessments for offshore sites in Sweden and on the US West Coast, where the
company is preparing for a lease sale auction in September 2022.

  · In Japan, plans for Aker Offshore Wind and Mainstream Renewable Power to
acquire an initial 50 percent stake in Progression Energy's 800 MW floating
offshore project are progressing according to schedule, and the transaction is
expected to be closed in the near term.

  · Aker Offshore Wind remains committed to developing offshore floating wind in
the UK, where future opportunities include plans for floating wind in the Celtic
Sea and the INTOG leasing process to help decarbonise Scotland's oil and gas
sector.

The company is the largest shareholder in Principle Power, which has one of the
few field-proven floating concepts in the industry and has its technology
deployed in the commercial scale Kincardine project offshore Aberdeen - the
largest floating windfarm currently in operation. Aker Offshore Wind and the
wider Aker group work closely with Principle Power to accelerate the floating
wind market through technology development.

Aker Horizons remains fully committed to supporting Aker Offshore Wind as a long
-term owner and will ensure that the company has access to sufficient funding to
maintain its operations and pursue its development program. The company is
currently not planning a capital increase.

"Despite the disappointment, we are confident that our capabilities,
organization and partnerships will contribute to accelerating the deployment of
commercial scale floating wind around the world. We will encourage cooperation
among key players in the industry to ensure the prospect of there being GWs of
floating windfarms in operation prior to 2030 becomes a reality," said Philippe
Kavafyan, Chief Executive Officer of Aker Offshore Wind.

For further information, please contact:

Maria Lanza Knudsen, media contact, +47 48 44 24 26,
maria.knudsen@akeroffshorewind.com

Christian Yggeseth, investor contact, +47 915 10 000,
christian.yggeseth@akerhorizons.com

About Aker Offshore Wind

Aker Offshore Wind is an offshore wind developer headquartered in Norway with
focus on assets in deep waters. With global operations, the current portfolio
consists of development projects and prospects located in Asia, North America
and Europe. Aker Offshore Wind effectively deploys cost effective technologies
from decades of offshore energy development. The company is majority-owned by
Aker Horizons, an investment company dedicated to creating value and reducing
emissions from renewable energy and decarbonization technologies. Aker Offshore
Wind [AOW-ME] is listed on Euronext Growth in Oslo, Norway.

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