Aker BP reports second quarter 2025 results

Aker BP delivered strong operational performance in the second quarter of2025,marked by high production efficiency, low costs, and industry-leading lowemissions intensity. While production declined compared to the previousquarterdue to planned maintenance activities, the company's field developmentprojectsremain firmly on track to support production growth from 2027. In addition, anew oil discovery has been made in the Yggdrasil area. Backed by solidoperatingcash flow and a robust balance sheet, Aker BP is well positioned to navigatemarket volatility and continue delivering resilient dividends to itsshareholders.

Highlights

· Strong operational performance: Oil and gas production averaged 415 mboepd(441 mboepd in Q1), impacted by planned maintenance. Full-year productionguidance has been revised upwards to 400-420 mboepd (from 390-420). · Low cost: Production cost amounted to USD 7.3 per boe (USD 6.5 in Q1). · Low emissions intensity: Greenhouse gas emission intensity remained at 2.8kg CO2e per boe (scope 1 & 2), among the lowest in the global oil and gasindustry. · Projects on track: Field development projects are progressing on schedule-investment estimates revised upwards by approximately six percent reflectingupdated assumptions for inflation, labour costs, and currency effects. · Exploration success: Oil discovery confirmed in the ongoing Omega Alfawellin the Yggdrasil area. · Financial results: Total income of USD 2.6 billion (USD 3.2 billion in Q1)and cash flow from operations of USD 1.2 billion (USD 2.1 billion in Q1). · Resilient dividends: Dividends of USD 0.63 per share paid in the quarter -on track to deliver USD 2.52 per share for the full year.

Comment from Karl Johnny Hersvik, CEO of Aker BP

"We continued to deliver strong operational results in the second quarter,withhigh production efficiency, low emissions, and safe execution across ourportfolio. This performance reflects the strength of our teams and theresilience of our operations."

"Our field development portfolio is progressing according to plan, withseveralprojects even moving ahead of schedule. The final investment decisions onJohanSverdrup Phase 3 and East Frigg this quarter further demonstrate our abilitytoturn strategy into action and lay the foundation for future growth."

"Our robust balance sheet and solid cash flow generation enable us to navigatemarket volatility with confidence - while continuing to deliver attractive andresilient dividends to our shareholders."

Webcast presentation

The presentation will be webcasted today at 08:30 CEST onwww.akerbp.com (https://www.akerbp.com/en), hosted by CEO Karl Johnny Hersvikand CFO David Tønne. The presentation will be followed by an online Q&Asession.

Attachments

Aker BP 2025-Q2Report.pdf (https://mb.cision.com/Public/1629/4206791/a4d7b1657ec9486b.pdf)Aker BP 2025-Q2Presentation.pdf (https://mb.cision.com/Public/1629/4206791/82bb15e2e8b4d438.pdf)

Investor contacts:Kjetil Bakken, Head of IR, tel.: +47 918 89 889Carl Christian Bachke, IR Officer, tel.: +47 909 80 848

Media contacts:Tore Langballe, VP Communications, tel.: +47 907 77 841Ole-Johan Faret, Press Spokesman, tel.: +47 402 24 217

About Aker BP:Aker BP is a leading exploration and production company focused on oil and gasoperations on the Norwegian continental shelf. The company operates theAlvheim,Edvard Grieg, Ivar Aasen, Skarv, Ula, and Valhall field centres and is a keypartner in the Johan Sverdrup field. Headquartered in Fornebu, Norway, Aker BPis listed on the Oslo Børs under the ticker AKRBP. For more information, visitwww.akerbp.com/en.

This information is considered to be inside information pursuant to theEU Market Abuse Regulation and is subject to the disclosure requirementspursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Kjetil Bakken, Head of InvestorRelations, Aker BP ASA, on 15 July 2025 at 06:00 CET.

https://newsweb.oslobors.no/message/651264