Aker ASA: Cognite and Aramco sign joint venture agreement

Cognite AS ("Cognite"), a global industrial software company and majority-owned
subsidiary of Aker ASA ("Aker"), today announced it has signed a joint venture
("JV") agreement with Saudi Aramco Development Company, a subsidiary of The
Saudi Arabian Oil Company, as part of the two companies' strategic partnership
on industrial digitalization and sustainability initiatives.

The JV is one of the initiatives in the previously signed Memorandum of
Understanding (MoU) and will establish a new company to focus on digitalization
across industries in the Kingdom of Saudi Arabia and in the region. Aramco and
Cognite intend to have the JV established and running by 2021 following all
required regulatory clearances and will hold 51 per cent and 49 per cent
ownership, respectively.

"We are pleased to see the partnership concretize in ways that will allow Aramco
and Cognite to take new steps to work together towards sustainable energy
innovation and digital transformation of industries," said Øyvind Eriksen,
President and CEO of Aker ASA and Chairman of Cognite's Board of Directors.  The
JV will use Cognite's flagship data platform, Cognite Data Fusion, as its core
technology. Cognite is already supporting Aramco's Digital Transformation
Program by deploying CDF on Aramco's industrial assets in the Kingdom. CDF will
provide Aramco with instant access to live and historical contextualized data
across both operational technology (OT) and IT systems, and enable the company's
Digital Transformation Program to scale. Cognite's initial focus has been to
help Aramco advance analytics and AI projects coupled with digital twin
solutions.

"We are committed to making our strategic partnership with the world's largest
integrated oil and gas company a resounding success. We believe Aramco's deep
operational expertise, combined with Cognite's track record of developing and
deploying industrial software for digital frontrunners, will be a powerful
catalyst for the commercial success of the joint venture and the advancement of
digital transformation across heavy-asset industries," said Eriksen.

The completion of the agreement is subject to customary closing conditions,
including required antitrust filings.

END

For more information, please contact:

Atle Kigen, Head of Corporate Communications, Aker ASA
Tel: [phone]
Email: [e-mail]

Christina Chappell Glenn, Head of Investor Relations, Aker ASA
Tel: [phone]
Email: [e-mail]
This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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