Aker Solutions awarded long-term MMO frame agreement by Aker BP

February 16, 2026 - Aker Solutions has been awarded a major[1] five-year contract with Aker BP for Maintenance, Modification and Operation services (MMO). The contract covers all Aker BP's key assets on the Norwegian Continental Shelf, including the new Yggdrasil area.

The five-year framework?agreement?includes options?to extend the contract for up to two?additional?four-year periods starting from March 1, 2026. The work will be executed within?the?next-generation MMO alliance covering Valhall, Fenris, Ula, EIGA (Edvard Grieg and Ivar Aasen), Skarv, Alvheim, and the Yggdrasil area.

The alliance is designed to?raise the bar?in?project execution and delivery.?The goal is to embrace?new technology?and advanced execution methods to boost productivity, reduce costs, and shorten project lead times by fundamentally changing how we work.

This will be achieved through greater organizational?integration,?adoption of new?digital and AI-driven ways of working, and a commercial model that rewards performance and transformation.

"This contract marks a new chapter for Aker Solutions. We are proud to serve as the MMO provider for the Yggdrasil Area, including three topsides, Hugin A, Hugin B, and Munin. It's an area that will set a new benchmark for remote operations and low-manned and unmanned production platforms," said Kjetel Digre, Chief Executive Officer at Aker Solutions.

This contract provides a significant share of local?deliveries, creating activity and ripple effects across Norwegian industry. Engineering and project management will be carried out in Stavanger,?Sandnessjøen?and Mumbai. Fabrication will take place at Aker Solutions' yards in?Egersund?and?Sandnessjøen.?The agreement will also provide work for offshore employees.

"Our alliance is built on trust and long-term commitment. Together, we are at a pivotal moment of transformation?-?embracing?new technology?and advanced execution methods to boost productivity, reduce costs, and shorten project lead times by fundamentally changing how we work."?said?Digre.

The award will be booked as?order intake?in the?first?quarter of 2026, in the Life Cycle segment,?representing?an estimate of the work to be called off during the five-year fixed period.

[1]?Aker Solutions defines a?major?contract?as being between?NOK?8.0?billion and NOK?12.0?billion

ENDS

Preben Ørbeck investor relations preben.orbeck@akersolutions.com +47 470 10 611

Ruth Lycke media contact Ruth.Lycke@akersolutions.com +47 906 65 931

Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 11,800 people in 12 countries.

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This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

This stock exchange release was published by Svend Thürmer, Senior Communications Advisor, Aker Solutions, on February 16, 2026 at 07:50 CET.