Aker BP appoints new executive management team

Aker BP has appointed a new executive management team, effective 1 January 2027. The new team will be organised around the company's value chain, from exploration to production, to strengthen collaboration, reduce complexity and improve execution.

Until year-end, the new executive management team will design a new operating model for the company. The aim is to mature projects faster and more cost -effectively through the value chain, with fewer organisational interfaces and less complexity. The current executive management team will remain in place until 1 January 2027.

The operating model will build on the company's work with industrial data and artificial intelligence over the past decade, as well as its close collaboration with alliance partners.

"Aker BP is uniquely positioned for long-term value creation on the Norwegian continental shelf. The changes we are making will strengthen that position. The shelf is changing, and tomorrow's shelf requires something different from us than yesterday's did. We are now positioning the company for that future. I would also like to thank the current executive management team. It is under their leadership that we have laid the foundation for the steps we are taking now," says Karl Johnny Hersvik, CEO of Aker BP.

The executive management team is led by CEO Karl Johnny Hersvik and consists of:

Value chain

· Petter Sørhaug - Find & Develop · Tommy Sigmundstad - Build · Lars Høier - Produce · Øystein Arvesen - Optimise · Knut Sandvik - PDO Projects

Strategic and support functions

· David Tønne - CFO · Marit Blaasmo - Services · Thomas Hoff-Hansen - Digital · Paula Doyle - Strategic Innovation · Rolf Nystein -Transformation

The work on the new organisation is being carried out in close cooperation with employee representatives and the company's safety delegate service.

Contacts Tore Dammann Langballe, VP Communications, tel.: +47 907 77 841 Kjetil Bakken, Head of Investor Relations, tel.: +47 918 89 889

About Aker BP Aker BP is a company engaged in exploration, field development and production of oil and gas on the Norwegian continental shelf. The company operates the field centres Alvheim, Eiga, Skarv, Ula and Valhall, operates Yggdrasil, which is under development, and is a partner in the Johan Sverdrup field. Measured in production, Aker BP is one of the largest independent oil companies in Europe. Aker BP is headquartered at Fornebu and is listed on the Oslo Stock Exchange under the ticker code AKRBP. More about Aker BP at www.akerbp.com (https://www.akerbp.com/en).