Lundin Energy AB ('Lundin Energy' or 'the Company') proposes to change the Company's name to Orron Energy AB ('Orron Energy'), as part of the transition to a renewables focused business, following the Combination of the E&P business with Aker BP, anticipated to complete on 30 June 2022.
The proposed name change is subject to shareholder approval at the upcoming EGM to be held on June 16, 2022.
The name change marks the beginning of a new era for the Company, as it transforms into a renewable energy focused business. Orron Energy will start trading as a debt-free business with three high-quality, low-cost renewables assets in the Nordics, and is positioned for growth. The business will retain certain key members of Lundin Energy's current board and management team, with knowledge of the asset base within renewables and a proven track record of building companies which have delivered significant value for shareholders over many years. The name change is proposed to take effect from 1 July 2022, following the completion of the transaction to combine Lundin Energy's oil and gas assets with Aker BP, anticipated on 30 June 2022.
Daniel Fitzgerald, proposed CEO of Orron Energy comments; 'The proposed name change to Orron Energy marks the start of a new era for the Company, reflecting our renewable focus, our Nordic roots, and the entrepreneurial spirit of the Lundin Group of Companies. I am excited about the future, as we are convinced that Orron Energy is uniquely positioned to create value for our shareholders through the energy transition.'
Contact:
Edward Westropp
Tel: +41 22 595 10 14
Email: edward.westropp@lundin-energy.com
Lundin Energy is an experienced Nordic oil and gas company that explores for, develops and produces resources economically, efficiently and responsibly. We focus on value creation for our shareholders and wider stakeholders through three strategic pillars: Resilience, Sustainability and Growth. Our high quality, low cost assets mean we are resilient to oil price volatility, and our organic growth strategy, combined with our sustainable approach and commitment to decarbonisation, firmly establishes our leadership role in a lower carbon energy future. (Nasdaq Stockholm: LUNE).
IMPORTANT INFORMATION
For the purposes of this disclaimer, 'this press release' means this document, its contents or any part of them, any oral presentation, any question and answer session and any written or oral materials discussed or distributed therein. This communication does not constitute notice to a general meeting or a merger document, nor shall it constitute an offer to sell or the solicitation or invitation of any offer to buy, acquire or subscribe for, any securities or an inducement to enter into investment activity, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any decision with respect to the proposed statutory merger of Aker BP and MergerCo, a newly established Swedish public limited liability company currently wholly-owned by Lundin Energy in accordance with the Norwegian Companies Act and the Swedish Companies Act should be made solely on the basis of information to be contained in the actual notices to the general meetings of Aker BP and Lundin Energy, as applicable, and the merger document related to the Combination as well as on an independent analysis of the information contained therein. You should consult the merger document, which will be available prior to the general meeting of shareholders at which the matters set out herein will be subject to vote, for more complete information about the Combination. You should also perform an independent analysis of the information contained therein and the merger document when making any investment decision. This press release contains forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of each respective company or the combined company. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Although managements of each respective company believe that their expectations reflected in the forward-looking statements are reasonable based on information currently available to them, no assurance is given that such forward-looking statements will prove to have been correct. You should not place undue reliance on forward-looking statements. Past performance of Aker BP and Lundin Energy does not guarantee or predict future performance of the combined company. Moreover, Aker BP, Lundin Energy and their respective affiliates and their respective officers, employees and agents do not undertake any obligation to review, update or confirm expectations or estimates or to release any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of the presentation. Additionally, there can be no certainty that the Combination will be completed in the manner and timeframe described in this press release, or at all.
ORRÖN ENERGY AB 
