Composition of Administrative, Management, and Supervisory Bodies

Aker Solutions' Board of Directors has eleven members and none of them hold executive positions within the company. Of the eleven, shareholders elect seven members and employees elect the remaining four. There are four independent board members (36 percent). There are six male members of the Board (55 percent) and five female members (45 percent). We have an Audit Committee comprised of four of the members of the Board of Directors.

Roles and Responsibilities

Aker Solutions' Board of Directors, the highest governance body, is responsible for overseeing and safeguarding management of our sustainability work and ensures that the company conducts business using sound corporate governance, and sets the standards for corporate governance, ensuring these reflect the Norwegian Code of Practice for Corporate Governance, last revised October 14, 2021. The Board has the overall responsibility for compliance with applicable laws and regulations and the Code of Conduct. Aker Solutions' annual Corporate Governance Report is available on our website.

The Audit Committee supports the Board of Directors in the quality assurance of guidelines, policies, and other governing instruments pertaining to the company and in ensuring compliance with applicable laws and regulations and with the company's Code of Conduct as well as anti-corruption and third-party representative policies. The Audit Committee supports the Board of Directors in safeguarding that the company has sound management and internal controls over reporting and enterprise risks.

The executive management team (EMT) is the highest level of management in Aker Solutions and consists of the CEO, CFO and seven executive vice presidents (EVPs) representing the companies four operating segments (New Build, New Energies, Life Cycle and Power Solutions) and three functional areas. It is the responsibility of the CEO to actively ensure compliance with applicable laws and regulations and the Code of Conduct, establish clear roles and responsibilities for anti-corruption activities, ensure adequate staffing and resources to support the Business Integrity Principles and Framework as defined in Business Integrity Procedure and set an example by acting with integrity and promoting compliance and integrity.

Under the CEO, the executive vice president of safeguarding has the responsibility to develop, drive and communicate the sustainability agenda, while our business segments and functions are responsible for implementation. Each of our locations is responsible for ensuring compliance with local legal requirements in addition to the corporate requirements.

Aker Solutions' Code of Conduct outlines the behaviors and actions expected of all our employees and is reviewed and approved by the Board of Directors every third year. The most recent review and approval was in November 2024. The Code of Conduct is the key governing document and the foundation of our drive to uphold the highest levels of integrity and avoid becoming complicit in unethical or illegal behavior.

Our rules of procedure for the Board of Directors govern areas of responsibility, duties and the distribution of roles between the Board, the chairman and the CEO. The rules of procedure also include provisions on matters such as convening and chairing board meetings, decision making, the duty and right of the CEO to disclose information to the Board, related party transactions and the duty of confidentiality. The Audit Committee shall, as instructed by the Board of Directors through the Audit Committee charter, carry out all activities necessary to fulfil the Board of Directors' obligations as set out above.

The CEO and relevant EVPs assess and manage sustainability and climate-related issues as part of operations and the risk management process. Aker Solutions has company-wide governing documents and tools for each defined risk category on how to assess, respond to and report on risks actively and systematically. The assessment, definition, follow-up and implementation of adequate mitigating actions towards the main risk factors are all integral parts of the overall governance of the company. The risks identified during the Double Materiality Assessment (DMA) process are included in the our overall risk management.

Aker Solutions applies a combination of risk management practices in order to effectively manage the risk to the company such as mandatory internal key controls and safeguarding processes for tender and projects in execution, scenario planning, sensitivity analysis, and regular reviews.

The CEO presents sustainability and climate-related issues at Board meetings. The presentations generally include the overall enterprise risk information, including climate-related risks, how climate-related matters are managed and the results that have been achieved. The CEO also interacts with internal and external stakeholders. Climate-related issues are also a priority when presenting tenders to the Board for approval.

EVP Safeguarding is responsible for overseeing enterprise risk management, including climate-related risk. The Enterprise Risk Committee reports risks as per established procedure by the enterprise risk management function on a quarterly basis, which is consolidated into the enterprise risk portfolio. The portfolio is evaluated by the enterprise risk management function, and approved by the EVP Safeguarding, before being aligned with the executive management team and reported to the Audit Committee.

The Audit Committee performs a qualitative review of the quarterly and annual reports of the company. The Audit Committee also supports the Board in overseeing that the company's Enterprise Risk Management framework is implemented and accurately reflects our major risk areas, including climate-related risks.

Aker Solutions' approach to enterprise risk management and internal controls are based on the principles in ISO 31000, Project Management Institute and the Committee of Sponsoring Organizations of Treadway Commission (COSO) frameworks, however, without applying all elements of these standards. Climate-related risk is also evaluated in accordance with Task Force on Climate-related Financial Disclosures (TCFD).

Expertise and Skills

It is a priority of the Nomination Committee of the Board of Directors to have the Board function as a team in the best possible manner and that the shareholder elected board members complement each other by way of their background and competence. The shareholders in the general assembly are invited to vote on the full board composition proposed by the Nomination Committee as a group, and not on each member separately. New board candidates are selected to attend to the interests of the shareholders in general and fill the requirements of the company, including with respect to competence, capacity and independence.

As such, the members of the Board of Directors collectively bring a diverse and extensive range of experience from various industries and roles. The board members have backgrounds in senior executive positions, law, finance, engineering, project management and corporate governance. They have worked in sectors such as shipping, oil and gas and renewable energy. Their combined expertise includes leadership in multinational companies, strategic oversight, enhancing digital presence and customer engagement.

In addition to their industry experience, several board members have worked with sustainability, compliance and ESG reporting. They have worked on initiatives related to renewable energy, corporate governance and sustainability, ensuring that Aker Solutions adheres to high standards of environmental and social responsibility. This includes implementing sustainable practices, ensuring compliance with regulatory requirements and promoting transparency in ESG reporting. This diverse skill set enables the Board to provide comprehensive strategic direction and governance for Aker Solutions, with an emphasis on sustainability, compliance and ESG principles and helps us maintain a reputation as a responsible company.

The Board also draws on expertise and advice from external consulting organizations. Throughout the year, the Board dedicates time to enhancing competence in ESG topics and regulatory requirements to effectively overseeing and advising the company. A short biography for each board member can be found at the end of this report.

We are committed to ensuring that Aker Solutions' administrative, management, and supervisory bodies possess the necessary skills and expertise to oversee sustainability matters effectively. We have put in place mechanisms to ensure that these bodies can either directly possess or leverage sustainability-related expertise, for instance, through access to industry experts or regular training programs.

There are eight ordinary board meetings per year, and extraordinary meetings when needed. Every ordinary board meeting includes an operational status report from the CEO and/or CFO, including project updates.

Sustainability is a standard topic on the agenda for the quarterly Audit Committee meetings where material impacts, policies, reporting and other key topics are discussed and agreed. Annual sustainability reporting, including material impacts, risks and opportunities - IROs (covered in SBM-3), is discussed, reviewed and approved by the Board and Audit Committee in the first quarter of the year.

The Board approves the company strategy and supporting business plans, with scheduled agenda items such as the identified risks and progress against KPIs, including sustainable business performance.

Aker Solutions offers an annual variable pay scheme to senior managers globally. This scheme is designed to incentivize senior management to achieve annual strategic objectives. The 2024 variable pay scheme is integrated with the company's performance management system and the corporate balanced scorecard, which includes common corporate objectives approved by the Board of Directors. All eligible employees, regardless of their business segment or function, are evaluated based on these shared commitments. The 2024 scorecard features KPIs aligned with Aker Solutions' long-term transitional targets, including KPIs for climate action and emissions reduction, and revenue share from transitional and renewable energy projects. Operational and transitional KPIs together account for a 30 percent weighting and HSSE KPIs account for a 10 percent weighting of the variable pay total.

The due diligence process, as delineated in international instruments such as the UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises, is a comprehensive approach to identifying, preventing, mitigating, and accounting for the actual and potential negative impacts on the environment and society linked to our business activities.

The core elements of our due diligence process, are illustrated below:

Aker Solutions has established a framework to ensure the accuracy, reliability and integrity of our sustainability reporting in accordance with the European Sustainability Reporting Standards (ESRS). Controls are being designed and implemented to provide assurance that the information disclosed in our report is complete and in compliance with applicable regulations and standards. The scope of our risk management and internal control processes includes all parts of sustainability reporting. The main features of the system are risk identification, risk assessment, risk mitigation and internal controls.

Aker Solutions carries out an annual risk assessment to identify the risks of material misstatements in the sustainability reporting based on materiality, complexity in processes, and the probability of errors. Following the assessment, we develop and implement strategies aimed at mitigating the identified risks. This involves policies and procedures that prevent these risks from affecting the reporting process and establishing internal controls that oversee the reliability of the data reported.

Aker Solutions is exposed to risks associated with incomplete or inconsistent reporting of sustainability data. There are also risks related to the accuracy of data inputs and manual errors in the reporting process. Controls are implemented based on assessment of risks in the sustainability reporting and for 2024 the implemented controls are review controls.

To maintain transparency and accountability, the status of internal control over sustainability reporting is reported on a quarterly basis to the Audit Committee. Moreover, we conduct annual reviews to evaluate the performance and effectiveness of our systems.

In addition to the regular reporting, we organize ad-hoc meetings to discuss significant developments and make necessary adjustments to the strategies and controls in place. Internal controls over sustainability reporting is an ongoing maturity journey and we expect this area to improve and mature going forward.

Sustainability is embedded into Aker Solutions enterprise strategy and is not a separately developed strategy. Decisions are made every day that have an impact across our value chain: they affect people, customers and suppliers, as well as the environment and the communities in which we operate. We know that how we conduct ourselves as an employer and a business has a profound impact on the company's ability to create long-term value for the society and our shareholders.

Aker Solutions provides products, systems and services ranging from concept studies and front-end engineering to integrated project execution and services to the global oil and gas industry. Aker Solutions also delivers consultancy and engineering services as well as technical solutions to support energy transition projects within offshore wind, electrification, hydrogen, carbon capture and storage (CCS) and hydropower. Our main customers are international, national and independent energy companies involved with production of oil and gas, and renewable energy. At the end of 2024, our employee headcount was 11,777 across 15 countries. Additional information on employees and geographical breakdown can be found in section S1-6: Employee characteristics.

Aker Solutions has no revenue directly related to actual drilling, exploration or extraction of oil and gas. The products and services we deliver to our customers related to oil and gas were 82 percent of total revenue from customer contracts in 2024.

For 2024, renewables and transitional energy projects represented 18 percent of the company's revenues. Aker Solutions had previously set a target that revenues from renewables and transitional energy solutions would represent 2/3 of revenues by 2030. However, due to changes in the company's underlying markets, we have adjusted this ambition. We will continue the energy transition journey and expect that future revenues will be a mix of projects within oil and gas, renewables and transitional energy solutions. The renewables and transitional energy solutions mainly includes projects for offshore wind, hydropower, aquaculture, CCS, hydrogen, electrification of offshore and onshore facilities, and decommissioning and recycling. This differs from the EU Taxonomy definition, which defines economic activities that can be considered environmentally sustainable. Aker Solutions has furthermore set clear emissions reduction targets and we are working to reduce scope 1 and 2 emissions by 50 percent by 2030, using 2023 as a base year, and become net zero for all scopes by 2050. More information on emissions reduction targets is located in section E1-1: Transition plan for climate change mitigation.

Aker Solutions' Value Chain

Aker Solutions is a global provider of holistic solutions, products, and services to the energy industry, focusing on both traditional oil and gas production and renewable energy solutions such as CCS, hydrogen, hydropower and offshore wind. Aker Solutions ensures a comprehensive approach to meeting the needs of the global energy industry, from initial exploration to final delivery and support. The value chain encompasses a wide range of activities and offerings from consultancy, engineering, construction and installation to life cycle operations support and decommissioning.

We have the following external reporting segments: Renewables and Field Development, Life Cycle and in addition the Other segment. Aker Solutions is divided into four operating segments: New Build, New Energies, Life Cycle and Power Solutions and each segment utilizes advanced technologies and digital tools to create efficient and high quality designs while implementing systems to optimize energy use and improve efficiency.

Aker Solutions' New Build segment focuses on the design, engineering, and construction of new facilities and infrastructure for the energy sector. This includes offshore platforms such as high-voltage direct current (HVDC) platforms for offshore wind, subsea systems, and onshore processing plants and also decommissioning and disposing of assets that are no longer in use. The New Energies segment is dedicated to developing and delivering renewable energy solutions and the transition to a low-carbon future. The Life Cycle segment focuses on maximizing the performance and longevity of energy assets. Finally, the Power Solutions segment focuses on providing integrated solutions for energy production and distribution.

Upstream Supply Chain

Aker Solutions purchases raw materials and components from suppliers, including steel, electronics, metals, composites, and electronic components and specialized equipment required for construction. We also source expertise and knowledge from a diverse pool of engineers and industry experts and invest in research and development to stay at the forefront of technological advancements and industry trends.

We collaborate with suppliers to ensure the quality and reliability of materials and to develop innovative materials that improve the efficiency and sustainability of our projects.

Downstream Supply Chain

Once the raw materials and components are procured, Aker Solutions engages in the engineering, procurement, construction, and installation (EPCI) of various types of energy-related facilities. We also provide feasibility studies, design and engineering, project management, and regulatory compliance across various industries, including oil and gas, renewable energy, and infrastructure. Our downstream supply chain also involves the transportation, delivery and logistics of these products and services to the project sites and/or clients, ensuring efficient delivery and installation.

Customers

Aker Solutions' primary customers are: ◼ Major oil and gas companies, renewable energy developers and infrastructure providers ◼ Utility companies, government agencies and private investors ◼ Companies and organizations seeking expert advice and support for their projects

Aker Solutions provides solutions that enhance the efficiency and safety of our customers' operations and enable the generation and distribution of power and energy, both within renewables and fossil fuels segments, and tailored life cycle services that address their specific needs and challenges.

We also offer maintenance and support services to ensure the longevity and performance of the products and systems.

Channels of Distribution and Types of Suppliers

Aker Solutions utilizes various channels to distribute our products and services, including:

◼ Direct Sales: Engaging directly with clients and building relationships through a dedicated business development team ◼ Partnerships and Alliances: Collaborating with other companies to expand reach and capabilities and develop new business models ◼ Service Centers: Establishing local service centers to provide timely support and maintenance

We collaborate with a diverse range of suppliers to support our extensive value chain. These suppliers are crucial in ensuring the delivery of high-quality projects on time and within budget. Here are the main types of suppliers we work with:

◼ Raw material suppliers: These suppliers provide essential materials such as steel, aluminum, and other metals used in the manufacturing of subsea systems, offshore platforms, and renewable energy components ◼ Equipment manufacturers: Aker Solutions sources specialized equipment from manufacturers who produce items like turbines, compressors, pumps, and other machinery critical for energy production and processing ◼ Technology providers: These suppliers offer advanced technological solutions, including software for digital twins, automation systems, and data management tools that enhance operational efficiency and safety ◼ Service providers: Aker Solutions partners with companies that offer various services, such as maintenance, inspection, and repair services, to ensure the longevity and reliability of energy assets ◼ Engineering and construction firms: These firms assist in the design, engineering, and construction of new build projects, including offshore wind farms, oil and gas platforms, and carbon capture and storage facilities ◼ Logistics and transportation companies: These suppliers handle the logistics and transportation of materials, equipment, and finished products to project sites around the world, ensuring timely and efficient delivery

The value chain in Aker Solutions is complex and multifaceted, encompassing a wide range of activities and stakeholders. By leveraging our expertise and resources, Aker Solutions delivers innovative and sustainable solutions to customers across various industries. By working with a wide array of suppliers, Aker Solutions can maintain a robust and flexible supply chain that supports a diverse range of projects and services across the global energy sector. This collaboration is key to delivering innovative and sustainable solutions that meet the evolving needs of the industry. Our commitment to quality, safety, and efficiency ensures that we remain a trusted partner in the global energy and engineering sectors.

Stakeholder Engagement Strategy

Aker Solutions has in-depth and ongoing dialogue with our key stakeholders on sustainability impacts and other topics throughout the year. Our key stakeholders include customers, investors, financial institutions, employees, non-governmental organizations (NGOs), unions, governments and national authorities, partners and suppliers. Our participation and communication with unions is an example of formalized stakeholder engagement. Examples throughout this report demonstrate how we incorporate stakeholder feedback into our management and approach for each material topic.

Our engagement with key stakeholders occurs at regular intervals, ensuring a continuous flow of feedback and insights. The following table illustrates the type of engagement, frequency and key topics discussed with identified stakeholder groups.

Aker Solutions has formal participation and memberships in many industry associations, advocacy groups and non-governmental organizations. We participate in governance bodies and advisory committees where relevant, and are active members of local and regional industry, safety, community and ESG organizations in the countries where we do business.

Starting with the highest level of the organization, key performance indicators (KPIs) and specific targets hold leadership, managers and employees accountable for sustainability. Throughout this report we will share many of these KPIs and targets to demonstrate the company's global commitment to responsible business.

Understanding of Stakeholder Interests and Views

In addition to regular engagement as outlined in the following table, we have conducted a materiality assessment process to evaluate the interests and views of key stakeholders. The insights gathered during this process helped shape our sustainability initiatives and strategies, ensuring that our business operations are aligned with stakeholder expectations and societal needs. Both Aker Solutions' executive management team and the Board's Audit Committee review the annual materiality assessment, including the views and interests of affected stakeholders concerning our sustainability impacts. Regular reports and updates are shared with these bodies, facilitating informed decision-making and strategy formulation, thereby ensuring that our business operations are aligned with our sustainability goals.

Material Impacts, Risks and Opportunities and their Interaction with Strategy and Business Model

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To guide our sustainability initiatives and ensure our alignment with stakeholders, Aker Solutions undertakes a review of material topics for reporting each year. The review process includes commissioning an external analysis of existing material topics and identifying potentially new material topics.

Our recent materiality review is based on the implementation guidance for the Double Materiality Assessment (DMA) requirement of the European Sustainability Reporting Standards (ESRS) as set forth by the Corporate Sustainability Reporting Directive (CSRD). The standard requires reporting companies to assess the significance of their actual and potential impacts, as well as financial risks and opportunities.

Double Materiality Assessment

In late 2023, Aker Solutions conducted a robust process to identify impacts, risks and opportunities (IROs) to accommodate the operations and value of Aker Solutions, and score these IROs as a basis for the materiality decision of the sustainability matters resulting in a completed Double Materiality Assessment.

The process is based on a combination of input from internal and publicly available documents, internal experts, and stakeholders. Internal experts were selected based on their expertise and internal ownership of sustainability matters. They were engaged through the initial assessment process as well as the calibration workshops.

Methodologies and Assumptions

Scope

For our own operations, we identified and assessed impacts on people and the environment as well as potential risks and opportunities for our business. During the assessment, consideration was taken of Aker Solutions' upstream and downstream value chain, though the primary focus was on own operations. Value chain assessments were based on internal knowledge and mainly focused on our Tier 1 suppliers, especially when identifying and assessing impacts related to ESRS S2: Workers in the Value Chain. Going forward, the process will be improved to further assess IROs covering a larger portion of the full value chain. In our impact assessment, we considered both positive and negative impacts as well as actual and potential impacts related to sustainability matters. In our financial assessment, we assessed potential sustainability-related risks that could trigger a negative financial impact on our business and opportunities that could cause a positive financial impact. No IROs were identified related to ESRS S4: Consumers and end-users.

Stakeholder Engagement

For our DMA, we engaged over 30 internal subject-matter experts from across our organization, and included direct consultation via interviews with affected stakeholders representing the following groups: customers, industry associations, suppliers, investors and NGOs. A survey among members of our workforce was also conducted. Our internal experts were divided into two task forces, one for impact materiality and one for financial materiality.

Scoring Impacts

As per the ESRS guidance, three parameters of 'scale', 'scope', and 'irremediable character' have been used when scoring the 'severity' of our actual impacts: ◼ When scoring 'scale', we assessed how great the impact is on the environment or people, prior to considering mitigating actions already in place ◼ When scoring 'scope', we assessed how widespread the impact is based on size of location/area impacted ◼ When scoring 'irremediability', we assessed how difficult it is to reverse the damage in terms of cost and effort. Irremediability was not assessed for positive impacts ◼ When scoring 'likelihood" we utilized a scale from Very Low (<20 percent) to Very High (<80 percent). For actual impacts, likelihood was set at 100 percent ◼ The impact materiality threshold was set based on tested thresholds utilized by our external consulting partner. ◼ For human rights-related impacts, the threshold for materiality was lowered, per the ESRS guidelines

Scoring Risks and Opportunities

When scoring risks and opportunities, we assessed the potential magnitude of financial effects based on percent impact on EBITDA as well as the likelihood of the risk or opportunity occurring. The financial materiality threshold was set to capture and report on the risks and opportunities with the highest monetary risk exposure. This threshold is based on our Enterprise Risk Management (ERM) system. The magnitude of financial effects was scored as '"minor" (<2 percent of EBITDA) to major (>20 percent of EBITDA). Likelihood of occurrence was scored from Very Low to Very high, using the same scale as the impact scoring, and using relevant time horizons of short-, mid-, or long-term.

Process

The impact assessment and financial assessment occurred simultaneously and several internal experts were involved on both task forces. We followed the seven key steps below as further elaborated on the next page:

◼ Mobilization and identification ◼ Initial materiality assessment ◼ Calibration of internal assessment ◼ Stakeholder engagement ◼ Validation of findings ◼ Finalization and documentation ◼ 2024 review and revalidation of 2023 assessment

Process Steps

1. Mobilization and identification: The identification of relevant internal and external stakeholders (such as clients, suppliers, investors and employees) was done by Aker Solutions with guidance from an external consulting partner. The selected stakeholders represented both affected stakeholders and users of sustainability statements and were engaged through interviews.

2. Initial materiality assessment: The purpose was to develop and calibrate the long list of sustainability matters, identify IROs for assessment, complete an initial assessment and scoring of identified IROs by internal experts, and identify impacted parties and users of information for stakeholder engagement. The DMA was carried out following a top-down approach.

3. Calibration of internal assessment: During this step, we reviewed and, where necessary, calibrated the initial assessment completed by internal experts. The result of the initial assessment was reviewed by our external consulting partner and discussed in a series of workshops with the internal experts who previously participated in the initial assessment.

4. Stakeholder engagement: The purpose of this engagement was to consult with and obtain independent input from the impacted parties and users of the information to compare, contrast and validate the initial assessment. The insights from stakeholders were gathered through open interviews managed by our external consulting partner and structured around sustainability matters considered relevant to the stakeholder, based on their expertise and relationships with Aker Solutions. In addition, a tailored workforce survey (developed by our consultants with input from Aker Solutions) was also carried out. This survey generated responses from 123 members of staff. The survey results were assessed to compare, contrast and validate the initial assessment of IROs relevant to ESRS S1: Own workforce.

Insights from both internal and external stakeholders were gathered and analyzed, and findings and key messages were consolidated and integrated in the analysis. Stakeholder insights were used to validate the initial assessment. Any discrepancies between the internal and external assessment were identified and discussed with the internal experts in Aker Solutions.

1. Validation of findings: To ensure alignment and validation of the DMA, our external consulting partner compiled a presentation with a summary and explanation of the process from steps 1 to 6, including its own recommendations to members of Aker Solutions' executive management team. In the validation meeting, the process and results were signed off by the EMT in the presence of the Head of ESG Reporting, the SVP Sustainability and the internal experts for environment, social and governance topics who were also engaged throughout the DMA process.

2. Finalization and documentation: Finalization of the project was done after alignment and validation. All IROs, scoring, rationale and final results were extracted and provided to the auditor to support its assurance process. Risks and opportunities resulting from the DMA process were added to the enterprise risk management system.

3. 2024 review and revalidation of 2023 assessment: During the third quarter of 2024, the IROs from the previous DMA completed at the end of 2023 were reviewed and revalidated. There were three impacts added and the scoring on three IROs was adjusted. One risk was removed as it was determined as irrelevant for environment, social or governance. There was no change to the list of material topics.

Some of the topics within the environment area required additional identification and assessment processes to be utilized during the double materiality assessment when screening for IROs. These additional processes are described below.

Additional Identification and Assessment Processes Related to IROs for Climate Change

Aker Solutions has an actual impact on the environment through its greenhouse gas (GHG) emissions. These emissions are linked to our operations and upstream activities, particularly with tier 1 suppliers. GHG emissions are considered to have a negative impact on the environment as they contribute to global warming and climate change, leading to adverse effects such as extreme weather events.

Aker Solutions conducted a climate-related scenario analysis using the Task Force on Climate-related Financial Disclosures (TCFD) guidelines. Together with an external consulting partner, Aker Solutions developed three customized climate scenarios tailored to consider our full value chain including upstream oil and gas production and downstream customer demand, as well as the production and demand for renewable energy fuels and technologies such as offshore wind, hydrogen, and CCS.

These scenarios were based on publicly available scenarios published by the International Energy Agency (IEA) and the Intergovernmental Panel on Climate Change (IPCC) and titled Net Zero 2050 (1.5°C), Announced Pledges (1.7-2°C), and Stated Policies (2.4-3°C). To test physical risks, we used IPCC's SSP3-7.0 scenario. Under the IPCC's SSP3-7.0 scenario, Aker Solutions' locations are based in areas that may be exposed to rising acute and chronic physical risks, including heat waves and/or drought, water stress, severe storms, and flooding and/or sea level rise, however these were not considered material risks. We defined short-term, medium-term, and long-term as 2025, 2030, and 2050, respectively. The scenarios used are the same scenarios used in the financial impairment testing described in note 12 of the consolidated financial statements.

◼ The Net Zero Emission's (NZE) scenario describes a pathway for the global energy sector to reach net-zero CO₂ emissions by 2050 through rapid deployment of a wide portfolio of clean energy technologies. NZE limits global warming to 1.5°C and prioritizes an orderly transition that aims to safeguard energy security through strong and coordinated policies and incentives that minimize energy market volatility and stranded assets. In advanced economies with net-zero pledges, carbon prices rise to USD 140 t/CO2 in 2030, USD 205 in 2040, and USD 250 in 2050 ◼ The Announced Pledges (APS) scenario assumes that all climate commitments made by governments and industries around the world as of the end of August 2023, including Nationally Determined Contributions (NDCs) and longer-term net zero targets, will be met in full and on time. In APS, the temperature rise in 2100 is 1.7°C. Carbon prices in advanced economies with net-zero pledges rise to USD 135 t/CO2 in 2030, USD 175 in 2040, and USD 200 in 2050 ◼ The Stated Policies (STEPS) scenario reflects current policy settings based on a sector-by-sector and country-by-country assessment of the energy-related policies that are in place as of the end of August 2023, as well as those that are under development. In STEPS, the temperature rises to 1.9°C in 2050 and 2.4°C in 2100. Carbon prices in the EU rise to USD 120 t/CO2 in 2030, USD 129 in 2040, and USD 135 in 2050 ◼ The IPCC's SSP3-7.0 represent the medium-to-high end of the range of pathways. CO2 emissions rise steadily and double by 2100. Resurgent nationalism, concerns about competitiveness and security, and regional conflicts push countries to increasingly focus on domestic or, at most, regional issues. Countries focus on achieving energy and food security goals within their own regions at the expense of broader-based development. By the end of the century, average temperatures have risen by 3.6°C

Additional Identification and Assessment Processes Related to IROs for Pollution

Methodologies

These key methodologies have been used to identify pollution sources from our operations:

◼ Environmental Aspect and Impact (A&I) process: An internal evaluation methodology to identify all relevant aspects and impacts within our operations, covering both upstream and downstream activities. Established in 2017 as part of our ISO 14001 management system, this process is supported by additional environmental assessments at the project level. It primarily focuses on site activities and is selectively applied to specific projects

Tools

◼ Active Risk Management: A digitalization solution to capture project-related risk including environment ◼ Centralized data collection: All other information is captured in a centralized environmental aspects and impacts register with standard information requirements and processes, and with multiple sources ◼ CHESS: Registration of chemicals used on the site ◼ Synergi: Record of plans, and actions related to HSSE

By leveraging these methodologies and tools, we have developed a comprehensive understanding of our environmental footprint. This approach enables us to identify key areas for improvement and innovation, and management of our environmental impacts.

List of Site Locations with Material Pollution Issues

There is potential for spills from operational activities from our sites located at Stord, Verdal, Egersund and Sandnessjøen in Norway. This is due to activities related to vessels and our operations in proximity to waterways.

Community Consultations

Aker Solutions takes a holistic approach to consultation with local communities and relevant stakeholders regarding our operations. These engagements cover multiple topics and types of communication. More information can be found in SBM-2: Interests and views of stakeholders.

Additional Identification and Assessment Processes Related to IROs for Water and Marine Resources

IROs for water and marine resources were also assessed, but they were not determined to be material based on the limited scale and scope of impact. Aker Solutions has a limited number of sites wit[text cuts off]

This content index lists the disclosure requirements that have been adhered to in this statement. It serves as a navigational tool, guiding stakeholders to the respective sections where detailed disclosures are presented.

[Content index table shown on pages 19-20 of the report shows all ESRS disclosure requirements with corresponding page numbers]

Transition plan for climate change mitigation

Aker Solutions does not have a transition plan but we have a decarbonization strategy, we call our climate action plan, that outlines the strategies and actions we are taking to reduce our scope 1 and 2 greenhouse gas (GHG) emissions and contribute to a low-carbon economy. It is a part of how we deliver on our purpose: solving global energy challenges for future generations. The main objectives in the plan are switching energy consumption to renewable energy, increasing energy efficiency and enabling the energy transition while ensuring operational resilience and financial stability.

Scope and boundaries

The climate action plan began as a roadmap to transform our business towards a net zero future. Since its launch in 2022, it has progressed from a corporate initiative to a business-led transformation with the ambition to be fully embedded in our enterprise performance management system. This plan outlines a series of actions focused on reducing our scope 1 and scope 2 GHG emissions and includes areas of future focus.

Target year(s)

Aker Solutions is committed to reducing our scope 1 and 2 GHG emissions by 50 percent by 2030, using 2023 as a base year, and become net zero for all scopes by 2050.

Emissions reduction milestones

Our near-term targets aim to reduce scope 1 and 2 emissions by 50 percent by 2030, compared to 2023, and in the long-term we aim to achieve net-zero (scope 1, 2 and 3) by 2050.

In 2024, Aker Solutions reduced its own emissions by 27 percent compared to the 2023 baseline which keeps us on track to meet our goal of a 50 percent reduction of scope 1 and 2 emissions by 2030.

At the end of 2024, our emissions for all scopes had increased by 13 percent from the 2023 baseline.

For scope 3, purchased goods and services remains our largest category.

Alignment with 1.5°C / SBTi validation status

Our long-term net zero target is aligned with the EU Paris Agreement and a 1.5°C pathway. In addition, our near-term scope 1 and 2 emissions reduction target is also aligned with the Agreement and a 1.5°C pathway but we do not currently have a near-term scope 3 emissions reduction target.

The target-setting process involved discussions and workshops with key stakeholders, utilizing the Science Based Target initiatives' (SBTi) methodology. The target was set in alignment with the SBTi Corporate Net Zero Standard.

The methodology for calculating science-based targets in line with the Paris Agreement follows the Absolute Contraction Approach and the cross-sector absolute reduction pathway.

Key levers / decarbonization pillars

Reducing Own Emissions (scope 1 and 2) Through Renewable Energy Technologies and Increased Energy Efficiency

Aker Solutions' biggest decarbonization lever for scope 1 and 2 is renewable energy such as increased use of electricity and bio-based solutions. This covers several key actions such as:

• Replacing heating from fossil fuel sources
• Increasing energy efficiency
• Purchasing EACs (Energy Attribute Certificates)
• Certifying our locations for ISO 50001
• Upgrading facilities at our yards

Investments performed and investments included in our near-term financial planning are expected to reduce our scope 1 and 2 emissions by approximately 50 percent by 2030, compared to our 2023 baseline.

Our yard in Egersund decreased its emissions in 2024 by 46 percent compared to 2023 after the replacement of heating from fossil sources.

Reducing Value-chain Emissions (scope 3) Through Use of Low Emissions Products and Services

Aker Solutions is also working to reduce value-chain emissions (scope 3) through the use of lower emissions products and services. Examples of actions include:

• Promotion of fossil free transport across the supply chain
• Purchasing low emissions steel

By joining the First Movers Coalition (FMC), Aker Solutions commits to buying at least 10 percent (by volume) of our steel from low-emissions sources by 2030. This commitment is subject to the availability of technology and the customer's willingness to meet their 2030 purchase pledges and emissions reduction goals. This is estimated to reduce our scope 3, category 1 emissions by 5 percent.

Innovation and Scaling Gap

We are also working to develop new or scale existing actions to further reduce scope 3 emissions as we work toward our net zero ambition. The effectiveness of these potential measures in reducing GHG emissions is highly uncertain and will depend on technological advancements, industry collaboration, and regulatory developments. This innovation and scaling gap is comprised of the following actions where direct emissions reductions are not yet assured:

• Data-driven decision making: better data into our systems will allow us to make informed decisions on new products, services and supplier selection and also result in accurate reporting of improvements
• Industry collaboration: working with our customers and across the energy industry to align on business models that support utilization of lower emissions products and services
• Procurement and contracts: monitoring our supply chain and rewarding suppliers who are operating more sustainably in their organizations, as well as raising the threshold for working with Aker Solutions and influencing suppliers so that decisions are based on sustainable outcomes

CapEx / investment commitments

Aker Solutions has sufficient funds, capacity and capabilities to implement the remaining actions in our climate action plan to ensure that we meet our emissions reduction target in 2030 for scope 1 and 2. To achieve our target of 50 percent reduction in scope 1 and 2 emissions by 2030, and to ensure compliance with anticipated changes in Norwegian environmental legislation, the company foresees investments of minimum NOK 210 million.

In 2024, Aker Solutions approved and initiated investment projects of NOK 24.5 million to support the decarbonization strategy in 2025.

Aker Solutions' plan includes taxonomy-aligned and taxonomy-eligible capital expenditures (CapEx) and investments that are not part of the EU Taxonomy but are aimed at reducing carbon emissions. In 2024, Aker Solutions invested approximately NOK 4 million in actions which are not part of the EU taxonomy but are supporting our decarbonization strategy. This covers the purchase of Energy Attribute Certificates (EACs) which reduce scope 2 emissions and other operational measures which replace fossil energy sources. Indirect costs, such as payroll, are not included in the presented amounts.

Locked-in emissions and stranded asset analysis

There are locked-in scope 1 emissions from equipment at our sites. The equipment used is primarily for heating, mobile equipment, and hot work. The contribution is expected to be reduced over time with improved technologies and investments. Value chain emissions can be locked in due to long-term supplier agreements and project design restrictions. While tackling these emissions will be a challenging task and is not fully outlined, we expect that the selection of low-emission materials, the gradual integration of sustainability criteria in procurement, and our role as an enabler in electrification and renewable and transition energy solutions, will be key to mitigating long-term impact of these emissions.

Significant CapEx in Coal, Oil, and Gas-related Activities

In 2024, Aker Solutions did not have any capital expenditures related to coal, oil, and gas-related extraction activities.

Use of carbon credits / removals

We expect to neutralize the remaining 10% of emissions (2023 baseline) using carbon offsets, in accordance with the criteria of the Science Based Targets initiative.

Our net-zero target is grounded in the same science-based methodology and accounting principles as our near-term target. Achieving this goal involves an action plan that builds on our near-term emissions reduction strategies, incorporating renewable and transitional solutions to drive further progress. We expect to reduce all scopes by 90 percent and neutralize the remaining 10 percent of emissions using carbon offsets, in accordance with the criteria of the SBTi.

Business Strategy and Financial Planning Alignment

Our climate action plan is part of our overall strategy and is reflected in both long-term targets and annual financial planning processes. Aker Solutions' group strategy is set by Aker Solutions ASA's Board.

Aker Solutions' net zero target requires a reduction in scope 1, 2 and 3 emissions. We have KPIs as part of our Balance Score Card related to scope 1 emissions reductions, both at the corporate level and at segment level. We have also included a climate action category into our prospect prioritization process, where prospects that are ambitious in terms of implementing emission reduction initiatives will receive higher scores.

To support the strategy, the financial frame is updated annually, most often for a five year strategy period. The frame reflects our strategic priorities and is entered on a high level in our company's financial system to maintain flexibility. It is approved by the Board according to Aker Solutions' authorization matrix.

The financial forecast for the current year is updated monthly. This includes forecast for ongoing investments that stretch over several years. The forecast contains a blend of approved investments and investments pending approval. The forecast can deviate from the approved frame to reflect updated information or changed priorities. The forecast update is reported as part of the financial report to the Board.

New investment applications are brought forward for approval when they have matured and are ready for decision. Each application has its own business case taking into consideration several aspects such as market, time, resources, cost, return on investment and rationale. If they are approved, they are moved from the 'pending approval' category to 'approved' in the financial system and included in the forecast update. Approval levels for investments are set in Aker Solutions' authorization matrix.

Approval by Administrative and Management Bodies

The climate action plan has been approved by our executive management team.

Implementation progress

Since the launch of our climate action plan, we have successfully implemented numerous initiatives to reduce emissions and improve energy efficiency. Key actions to date include replacement of fossil fuel heating systems in multiple buildings across our Norwegian yards and purchasing EACs. In 2024, Aker Solutions reduced its own emissions by 27 percent compared to the 2023 baseline which keeps us on track to meet our goal of a 50 percent reduction of scope 1 and 2 emissions by 2030. We expect to see the full impact of our 2024 scope 1 reduction initiatives in 2025.

At the end of 2024, our emissions for all scopes had increased by 13 percent from the 2023 baseline.

For scope 3, purchased goods and services remains our largest category. In 2024 we increased our engagement with our supply chain to better understand how our suppliers are working to achieve net zero within their own operations and supply chains. 2025 will be the start of closer engagement between Aker Solutions and our supply chain partners to promote innovative ways to reduce emissions and ways of working together to obtain better data that accurately demonstrates the impact of these actions. This will be a journey we take together with our suppliers as we mature, as customer interest in emission reductions options increases and as new projects start and bring new opportunities. The speed of these developments and changes poses a potential challenge to us and to our clients in achieving net zero.

Scenario analysis

Together with an external consulting partner, Aker Solutions developed three customized climate scenarios tailored to consider our full value chain including upstream oil and gas production and downstream customer demand, as well as the production and demand for renewable energy fuels and technologies such as offshore wind, hydrogen, and CCS.

These scenarios were based on publicly available scenarios published by the International Energy Agency (IEA) and the Intergovernmental Panel on Climate Change (IPCC) and titled Net Zero 2050 (1.5°C), Announced Pledges (1.7-2°C), and Stated Policies (2.4-3°C). To test physical risks, we used IPCC's SSP3-7.0 scenario. We defined short-term, medium-term, and long-term as 2025, 2030, and 2050, respectively.

Net Zero Emission's (NZE) scenario

Describes a pathway for the global energy sector to reach net-zero CO₂ emissions by 2050 through rapid deployment of a wide portfolio of clean energy technologies. NZE limits global warming to 1.5°C and prioritizes an orderly transition that aims to safeguard energy security through strong and coordinated policies and incentives that minimize energy market volatility and stranded assets. In advanced economies with net-zero pledges, carbon prices rise to USD 140 t/CO2 in 2030, USD 205 in 2040, and USD 250 in 2050.

Announced Pledges (APS) scenario

Assumes that all climate commitments made by governments and industries around the world as of the end of August 2023, including Nationally Determined Contributions (NDCs) and longer-term net zero targets, will be met in full and on time. In APS, the temperature rise in 2100 is 1.7°C. Carbon prices in advanced economies with net-zero pledges rise to USD 135 t/CO2 in 2030, USD 175 in 2040, and USD 200 in 2050.

Stated Policies (STEPS) scenario

Reflects current policy settings based on a sector-by-sector and country-by-country assessment of the energy-related policies that are in place as of the end of August 2023, as well as those that are under development. In STEPS, the temperature rises to 1.9°C in 2050 and 2.4°C in 2100. Carbon prices in the EU rise to USD 120 t/CO2 in 2030, USD 129 in 2040, and USD 135 in 2050.

IPCC's SSP3-7.0 scenario

Represent the medium-to-high end of the range of pathways. CO2 emissions rise steadily and double by 2100. Resurgent nationalism, concerns about competitiveness and security, and regional conflicts push countries to increasingly focus on domestic or, at most, regional issues. Countries focus on achieving energy and food security goals within their own regions at the expense of broader-based development. By the end of the century, average temperatures have risen by 3.6°C.

The results of the analysis were used to inform the development of our corporate strategy and improve our resilience. As a result of declining demand for oil and gas under the NZE and APS scenarios, and the growth of renewable energy under all scenarios, Aker Solutions has made a strategic shift to grow in renewables and low-carbon markets including offshore wind, CCS and hydrogen by working closely with our customers and partners and leveraging our core capabilities.

Policies related to climate change mitigation and adaptation

Aker Solutions addresses climate change mitigation and adaptation through two primary policies applicable to all Aker Solutions' operated sites. Both policies are signed at the top management level.

Sustainability Policy

Scope: All Aker Solutions' operated sites

Governance and approval: Top management level

Key content and principles:

• Commitment to support the UN SDGs, Global Compact principles, and the Paris Agreement
• Making sustainability a core value in strategy
• Prioritizing renewable solutions and energy efficiency
• Promoting recycling, reuse and circular design in solutions
• Responsible practices across the value chain
• Promotion of the use of renewable energy in operations

Material impacts addressed:

• Climate change mitigation
• Climate change adaptation
• Energy

Link to international standards:

• UN Sustainable Development Goals (SDGs)
• UN Global Compact principles
• Paris Agreement

HSSE Policy

Scope: All Aker Solutions' operated sites

Governance and approval: Top management level

Key content and principles:

• Promotes safe, reliable and sustainable operations
• Commitment to achieving zero harm to personnel, the environment, and assets
• Prioritizing health, safety, and security through collaboration with employees and the supply chain
• Continuously improving work environment and processes

Material impacts addressed:

• Climate change mitigation
• Climate change adaptation
• Energy

Implementation and Monitoring

Operational procedures cover:

• Assessment of environmental aspects and impacts, required in projects and at locations
• Identification of opportunities for improvement across all environmental topics, including climate change
• Monitoring and measurement of HSSE KPIs, including environment and climate
• Prescribed methodology statement on the calculations of emissions for all scopes, including assumptions, boundaries and exclusions (detailed in E1-6)

Key Policy Focus Areas

(a) Climate Change Mitigation: In line with the Sustainability Policy and commitment to support the Paris Agreement, Aker Solutions has established an emissions reduction target for scope 1 and 2 emissions and maintains a commitment to achieving net-zero emissions by 2050.

(b) Climate Change Adaptation: The Sustainability Policy commits to working on renewable and transitional solutions, promoting recycling, reuse and circular design in solutions and prioritizing energy efficiency across the value chain. Additional focus is on internal employee training and upskilling.

(c) Energy Efficiency: Aker Solutions is committed to operating with energy efficiency by continuously improving productivity, minimizing energy waste, and investing in technology that reduces consumption and CO2 emissions. The company also has a procedure on energy management.

(d) Renewable Energy Deployment: Continued support for the use of renewable energy on sites by purchasing Energy Attribute Certificates (EACs). In 2024, approximately 118,087 megawatt hours of electricity were purchased for own consumption, contributing to reducing scope 2 emissions.

Actions and resources in relation to climate change policies

Overview

Aker Solutions' climate action plan (decarbonization strategy) drives the commitment towards a net zero future. The plan has progressed from a corporate initiative to a business-led transformation with the ambition to be fully embedded in the enterprise performance management system.

Key Actions

1. Decarbonization Lever: Reducing Own Emissions (scope 1 and 2) Through Renewable Energy Technologies and Increased Energy Efficiency

Scope: Own operations

Description:

• Replacing heating from fossil fuel sources
• Increasing energy efficiency and purchasing Energy Attribute Certificates (EACs)
• Certifying locations for ISO 50001
• Upgrading facilities at yards

Time horizon: Near-term (by 2030)

Resources allocated:

• Total foreseen investments: Minimum NOK 210 million (to achieve 50% reduction in scope 1 and 2 emissions by 2030 and ensure compliance with Norwegian environmental legislation)
• 2024 approved and initiated investments: NOK 24.5 million (to support decarbonization strategy in 2025)
• 2024 non-taxonomy investments: Approximately NOK 4 million (covering purchase of EACs and operational measures replacing fossil energy sources; excludes indirect costs such as payroll)

Expected outcomes:

• Reduce scope 1 and 2 emissions by approximately 50% by 2030 compared to 2023 baseline
• Full impact of 2024 scope 1 reduction initiatives expected in 2025

Links to targets:

• Near-term target: 50% reduction in scope 1 and 2 emissions by 2030 (vs. 2023)
• Long-term target: Net-zero by 2050

Example achievement: Egersund yard decreased emissions in 2024 by 46% compared to 2023 after replacement of heating from fossil sources.

2. Reducing Value-chain Emissions (scope 3) Through Use of Low Emissions Products and Services

Scope: Upstream and downstream value chain

Description:

• Promotion of fossil-free transport across the supply chain
• Purchasing low emissions steel
• First Movers Coalition (FMC) commitment: buying at least 10% (by volume) of steel from low-emissions sources by 2030

Time horizon: Medium-term (by 2030)

Non-financial resources:

• Industry collaboration through First Movers Coalition membership

Expected outcomes:

• Estimated 5% reduction in scope 3, category 1 emissions through low-emissions steel commitment

Dependencies: Subject to availability of technology and customer willingness to meet their 2030 purchase pledges and emissions reduction goals

3. Innovation and Scaling Gap

Scope: Own operations and value chain

Description: Developing new or scaling existing actions to further reduce scope 3 emissions, comprising:

• Data-driven decision making: Better data into systems to enable informed decisions on new products, services and supplier selection, and accurate reporting of improvements
• Industry collaboration: Working with customers and across the energy industry to align on business models that support utilization of lower emissions products and services
• Procurement and contracts: Monitoring supply chain and rewarding sustainable suppliers, raising thresholds for working with Aker Solutions, and influencing suppliers toward sustainable outcomes

Time horizon: Long-term (toward 2050 net zero)

Status: Effectiveness highly uncertain; depends on technological advancements, industry collaboration, and regulatory developments. Direct emissions reductions not yet assured.

Renewable Energy Deployment

Description: Supporting use of renewable energy on sites by purchasing Energy Attribute Certificates (EACs)

2024 activity: Purchased approximately 118,087 megawatt hours of electricity

Outcome: Contributes to reducing scope 2 emissions

2024 Performance

• Scope 1 and 2 emissions reduced by 27% compared to 2023 baseline (on track for 50% reduction by 2030)
• Total emissions (all scopes) increased by 13% from 2023 baseline
• Increased engagement with supply chain on achieving net zero within their operations

Resource Availability and Capacity

Aker Solutions has sufficient funds, capacity, and capabilities to implement the remaining actions in the climate action plan to meet the 2030 emissions reduction target for scope 1 and 2. Investments follow a formal decision and approval process as described in the business strategy and financial planning alignment.

EU Taxonomy-aligned Investments

Taxonomy-aligned and taxonomy-eligible capital expenditures (CapEx) and investments are disclosed separately in the EU taxonomy reporting section.

Approval

The climate action plan has been approved by the executive management team.

Targets related to climate change mitigation and adaptation

Overview

Aker Solutions has set targets to reduce scope 1 and 2 emissions by 50 percent by 2030, as compared to 2023, and be net-zero by 2050.

The long-term net zero target is aligned with the EU Paris Agreement and a 1.5°C pathway. The near-term scope 1 and 2 emissions reduction target is also aligned with the Agreement and a 1.5°C pathway, but there is currently no near-term scope 3 emissions reduction target.

GHG Emissions Reduction Targets

Target Details

Scope 1 and 2 Target:

• Metric: Absolute scope 1 and 2 emissions
• Target value: 50 percent reduction
• Target year: 2030
• Baseline year: 2023
• Scope: Own and controlled operations
• Type: Absolute
• Validation: Science-based, aligned with SBTi Corporate Net Zero Standard using Absolute Contraction Approach and cross-sector absolute reduction pathway
• Progress: At year-end 2024, achieved a 27 percent reduction from 2023 baseline
• Key actions: Use of renewable energy, equipment and building upgrades, energy-efficiency optimization, replacement of fossil fuel heating systems, purchasing Energy Attribute Certificates (EACs), using biofuels, upgrading facilities
• Investment: Minimum NOK 210 million foreseen to achieve 2030 target and ensure compliance with anticipated Norwegian environmental legislation; NOK 24.5 million approved and initiated in 2024

Net Zero Target (All Scopes):

• Metric: Total greenhouse gas emissions (scope 1, 2, and 3)
• Target value: Net-zero (90% reduction + 10% neutralized through carbon offsets)
• Target year: 2050
• Baseline year: 2023
• Scope: All scopes including upstream and downstream value chain
• Type: Absolute
• Validation: Science-based, aligned with SBTi Corporate Net Zero Standard and EU Paris Agreement (1.5°C pathway)
• Progress: At year-end 2024, total emissions for all scopes increased by 13 percent from 2023 baseline
• Note: Long-term decarbonization strategy currently not fully defined as it relies on technological innovation and new production methods in the value chain

Scope 3 Actions (No Quantified Target)

While there is no near-term emissions reduction target for scope 3, Aker Solutions has committed to:

• First Movers Coalition commitment: Purchase at least 10 percent (by volume) of steel from low-emissions sources by 2030 (estimated to reduce scope 3, category 1 emissions by 5 percent)
• Promote fossil-free transport across the supply chain
• Increase engagement with supply chain partners

Target Tracking

Targets are tracked and monitored on a quarterly basis at corporate and business segment levels. Performance is presented to management and additional actions are taken if results are trending negatively. A year-end review is conducted to assess overall status.

Exclusions

The scope 1 and 2 target encompasses all accounted scope 1 and 2 emissions according to the emissions inventory, and does not include any avoided GHG emissions, emissions removals or other types of carbon credits.

Baseline Adjustments

2023 was selected as the baseline year following reorganization and disposal of the Subsea segment. The 2023 baseline for scope 3 categories 1, 2, 4, and 15 has been adjusted to include inflation rate for spend-based data and to include investee scope 1, 2, and 3 emissions.

Energy consumption and mix

Reporting boundary and methodology:
Energy activity data for purchased electricity and fuels is harvested locally via meter readings at sites or via invoicing. Each location submits environmental data monthly for premises and activities controlled by Aker Solutions. District heating and cooling is reported separately from electricity consumption and is included as renewable energy. All energy used is reported, including purchased Energy Attribute Certificates (EACs). Energy consumption is reported in accordance with ESRS requirements.

Disaggregated energy consumption and mix:

Energy sources notes:

• Crude oil and petroleum products and byproducts are utilized primarily to support fabrication, heating and transport equipment requirements
• Natural gas is used to cover energy demand in Aker Solutions' yards
• Other fossil sources may include fossil-based fuels like acetylene, used for welding purposes
• Many sites are in Norway, where the energy mix is predominantly renewable, with low reliance on fossil fuels. For facilities in regions with higher fossil fuel mix, the company is working on optimizing energy consumption and securing EACs to support cleaner energy sourcing
• District heating and cooling is derived mainly from renewable sources in Norwegian locations

Energy intensity based on net revenue (high climate impact sectors):

Activities in high climate impact sectors include fabrication, manufacturing and decommissioning.

Gross Scopes 1, 2, 3 and Total GHG emissions

Reporting Principles and Methodology

Aker Solutions reports all GHG emissions in metric tons of CO₂ equivalents (tCO₂e). The calculated CO₂e emissions represent all greenhouse gases covered by the UNFCCC/Kyoto Protocol, aggregated and converted to CO₂e emissions from operations or value chain. GHG emissions calculation data collection and overall methodology is based on the GHG Protocol Corporate Accounting and Reporting Standard and is in compliance with the ESRS requirements. The defined boundaries are Aker Solutions' direct control and administration at reporting year end. The consolidation of GHG emissions is based on the Operational and Financial Control approach.

There were no changes in reporting boundaries.

Emissions Factors Sources:

• Scope 1: DEFRA (2024), Intergovernmental Panel on Climate Change (IPCC). Calculation tool: Synergi Life (DNV)
• Scope 2 Location-based: EcoInvent v3.10. Calculation tool: Synergi Life (DNV)
• Scope 2 Market-based: Association of Issuing Bodies (2023), EcoInvent v3.10. Calculation tool: Synergi Life (DNV)
• Scope 2 District heating and cooling: Service Providers. Calculation tool: Synergi Life (DNV)
• Scope 3: Exiobase 3.9 (2019), EcoInvent v3.10, DEFRA (2024), EPD program operators (EPD Norge, IBU), EN 16258:2012. Calculation tool: Position Green Platform
• Biogenic emissions: DEFRA (2024). Calculation tool: Synergi Life (DNV)

Gross GHG Emissions by Scope

¹ Gross scope 1 GHG emissions does not include emissions from biogenic sources.

² The 2023 baseline for scope 3, category 1: Purchased goods and services, category 2: Capital goods and category 4: Upstream transportation and distribution was adjusted to include an inflation rate for spend-based data. In accordance with ESRS, scope 3, category 15: investments now includes scope 1, 2, and 3 of the investee. In previous reporting, category 15 only included the investee's scope 1 and 2. The 2023 baseline for this category has been revised.

GHG Intensity per Net Revenue

Net revenue used to calculate GHG intensity is revenue from customer contracts.

Information on Gross Scope 1 GHG Emissions

Scope 1 emissions in Aker Solutions include the associated emissions from fuel, welding gas and refrigerant consumption in sites, offices and yards as well as in own vehicles and leased vehicles that are under operational control.

Aker Solutions reports biogenic CO₂ emissions from the combustion or bio-degradation of biomass separately from scope 1 emissions. Emissions associated with the use of renewable fuels through non-carbon greenhouse gases are included in the scope 1 inventory.

• Aker Solutions total scope 1 emissions for 2024: 11,163 metric tonnes of CO₂e (excluding biogenic emissions)
• Biogenic emissions of CO₂ from the combustion or bio-degradation of biomass not included in Scope 1 GHG emissions: 401 metric tonnes CO₂e

Information on Gross Scope 2 GHG Emissions

Scope 2 emissions cover all electricity consumption emissions in sites, yards and offices, as well as district heating and cooling requirements. Emissions are accounted for based on the registered electricity consumption in each location. Aker Solutions purchases Energy Attribute Certificates (EACs). Purchased electricity is the biggest share of scope 2 emissions.

Aker Solutions' main accounting method for reporting scope 2 emissions and EACs utilizes a market-based approach.

Information on Gross Scope 3 GHG Emissions

All scope 3 categories have been screened and evaluated. Scope 3 emissions cover all relevant upstream and downstream emissions from the value chain, with the most significant categories being emissions from purchased products and services and investment-related emissions. Other relevant categories include emissions from the use phase of project deliverables, logistic emissions, waste generation, upstream energy usage, capital goods, employee commuting and business travel. Aker Solutions' investment-related emissions (Category 15), include the emissions from its 20 percent ownership share in OneSubsea, because the company has no operational control in the joint venture.

In 2024, scope 3 emissions increased by 14 percent driven by high procurement activity. The largest contributors in scope 3 were:

• Category 1: emissions from purchased goods and services (56 percent)
• Category 15: investment-related emissions (33 percent)
• Category 11: use of sold projects (4 percent)

All scope 3 categories were calculated with updated activity data from the reporting year. The inventory was based on 8 percent primary data provided primarily by suppliers of raw materials and logistic suppliers, while the remaining emissions were calculated with data from the company's own operations and databases, such as ERP systems, fuel, energy and waste registrations at locations and engineering design data. For category 1, supplier emissions from Environmental Product Declarations (EPDs) were prioritized, followed by industry-average and spend-based emissions factors to ensure representativeness and accuracy of GHG emissions inventory. For category 15, the input data is provided by the investee company and follows the GHG Protocol and ESRS requirements.

No additional biogenic emissions from biomass combustion or biodegradation were reported outside of scope 3. Furthermore, no emission reductions from offset projects or purchased carbon credits were included in the scope 3 calculations.

Excluded categories from scope 3 are the emissions from upstream and downstream leased assets, emissions from processing of sold products and emissions from franchises. These are not relevant to Aker Solutions' business activities or are already incorporated in scope 1 and 2.

Category-specific Methodologies

Category 1 - Purchased goods and services: Emissions are calculated using a hybrid approach that combines spend-based data from the reporting year (covering approximately 85 percent of emissions), supplier-specific emission factors from Environmental Product Declarations (EPDs), and lifecycle inventory database factors (covering together approximately 15 percent of emissions). Spend data includes 100 percent of external vendor information, reconciled through the profit and loss (P&L) statement. Financial data of external vendors relevant to employee salaries, business travel, freight transport activities, fuel and electricity purchases and data of products with calculated emissions through EPDs and lifecycle inventory databases are removed to avoid double counting.

Category 2 - Capital goods: Capital goods emissions are reported according to the organization's capital expenditures for the reporting year. The emissions refer to the total of fixed assets investments and are calculated with spend method.

Category 3 - Fuel- and energy-related activities: Upstream energy related emissions are calculated using activity data from the electricity and fuel consumption in sites, yards and offices, combined with the upstream emissions factors from lifecycle inventory databases. Category 3 emissions are calculated from the sum of the upstream fossil and biogenic fuel emissions, upstream emissions of purchased electricity and transmission and distribution losses.

Category 4 - Upstream transportation and distribution: The reported emissions from third-party transportation services cover inbound and outbound logistic activities purchased by Aker Solutions and represent the Well-to-Wheel emissions. The majority of these emissions, approximately 70 percent, is calculated using data provided by freight forwarders in the form of monthly reports. Around 26 percent of the emissions were calculated by financial spend data on the remaining logistic suppliers and the remaining less than 4 percent was calculated based on fuel records in yards.

Category 5 - Waste generated in operations: Waste generation is registered in all locations per waste type. The emissions factors are applied according to the waste treatment activity. Data is provided by waste contractors, facilities management and actual measurement.

Category 6 - Business travel: Aker Solutions' policy for employees is to order travel services through a third-party provider. Business travel emissions are calculated based on distance and mode of transport provided by the service provider.

Category 7 - Employee commuting: Emissions are calculated based on estimations for employee commuting and average data for commuting patterns. The calculations are derived from activity data gathered through employee surveys. The average ratio of remote working and the relevant emissions is included in the calculations.

Category 9 - Downstream transportation and distribution: Downstream transportation emissions are accounted for based on the maritime operations during installation and commissioning phase of projects. The activity data for the marine operations are provided in daily reports by third party service providers. For 2024 there were no relevant activities executed.

Category 11 - Use of sold products: Emissions from the use of sold products category originate from Aker Solutions' products delivered in the reporting year and result from direct consumption of fuel or electricity in the use phase and throughout the product's lifetime. The emissions factors used are representative for each location. This category includes use phase emissions from new build and modification projects. In the modification projects, emissions are based on the new equipment provided, and exclude equipment that was repaired or reused. Emissions are assessed based on the planned consumed electrical load data, under normal operation conditions. If relevant, any electrification phase is also accounted for according to the contractual years.

Category 12 - End-of-life treatment of sold products: Emissions are accounted for based on the waste generation from decommissioning projects in Aker Solutions and the estimated disposal rates are from national average statistics.

Category 15 - Investments: Category 15 includes emissions from the investment in OneSubsea. OneSubsea was established October 2, 2023 and comparable figures are calculated based on data provided by the investee. The emissions are allocated based on the 20 percent investment for scope 1, 2 and 3. In previous reporting, category 15 only included the investee's scope 1 and 2. 2023 baseline for scope 3, category 15: Investments was revised to include scope 3 of the investee.

Biogenic Emissions Reported Out of Scopes

Emissions from biodegradation or combustion of biomass that should be reported outside of scope 1, 2 or 3 are accounted for based on fuel consumption data in Aker Solutions. For 2024, these emissions were relevant to the biofuel usage in Aker Solutions' yards, specifically HVO100 and biofuel blend.

Anticipated financial effects from material physical and transition risks and potential climate-related opportunities

The following data points are referenced in the ESRS index for E1-9:

• E1-9, 66: Assets at material financial risk (Pillar 3) - Page N/A
• E1-9, 67 (c): Carrying amount of real estate assets by energy efficiency classes (Pillar 3) - Page N/A
• E1-9, 69: Financial opportunities (cost savings, market size and changes to net revenue) from climate change actions (Benchmark regulation) - Page N/A

No detailed quantitative information or methodology regarding anticipated financial effects from material physical and transition risks and potential climate-related opportunities is disclosed in the provided excerpts.

Policies related to pollution

Aker Solutions has policies and procedures in place to identify, manage, and mitigate material impacts related to pollution. The primary potential impact related to pollution stems from spills, given operations near or within marine environments. The policies and procedures are applicable across all of Aker Solutions operations, particularly at construction and fabrication sites.

HSSE policy

Purpose/Objective:

• Sets an ambition to prevent harm to the environment, people and assets
• Work together with key stakeholders, such as supply chain and customers to ensure this
• Establishes a goal to produce products with undue environmental impacts
• Utilize resources and energy efficiently in processes
• Prevent major hazards through process management and with the implementation of barriers

IROs Addressed:

• Spills management

Aspect and impact procedure

Purpose/Objective:

• Describes evaluation of environmental aspects and impacts (A&I) to identify risks, opportunities, and mitigation actions for projects and locations
• The A&I evaluation process considers impacts that are controlled and/or influenced
• Considers situations such as normal, abnormal, and emergency conditions

IROs Addressed:

• Spills management

Emergency management procedure

Purpose/Objective:

• Procedure to manage and minimize environmental pollution, including emergency response and remediation
• Incidents must be reported and escalated appropriately
• Emergency plans are periodically tested
• Unexpected events are investigated to prevent future occurrences
• The plan is developed for each location and consulted when working on external sites or when external projects are executed at Aker Solutions' sites

IROs Addressed:

• Spills management

Incident follow-up and case handling procedure

Purpose/Objective:

• Ensures transparency and learnings if there is an incident, including spills or discharges
• If the incident is rated high or extreme, then the incident is considered reportable and will be managed according with legal and other requirements as identified for the location

IROs Addressed:

• Spills management

Actions and resources related to pollution

Aker Solutions' approach to pollution management is on the prevention of pollution, and control of pollution in the event of unexpected events.

Pollution-Related Action Plans

1. Best Available Technologies Process in Project Engineering

• Description: Project engineering utilizes the Best Available Technologies-process to reduce and minimize impact. This could be by introducing alternative chemicals, change of material or equipment to reduce effluents, depending on the cost benefit analysis including CapEx and OpEx assessments. This evaluation assists to identify better environmental solutions for the customer and supports the prevention of pollution.
• Scope: Conducted for all applicable projects, especially in the North Sea
• Resources: CapEx and OpEx assessments (no specific amounts disclosed)

2. Annual Aspect and Impacts Register Updates

• Description: All sites and projects update the Aspect and Impacts register annually to ensure all are captured. The identified impacts are quantified, ranging from low to extreme, and an adequate level of mitigation is required before proceeding with any task. To minimize negative impacts, this requirement has been integrated into the design of products procured and produced through barrier management, and secondary storage is identified for the containment of any unexpected releases.
• Scope: Own operations - all sites and projects
• Expected outcomes: Effluent discharges are managed under authority permits and monitored periodically to minimize pollution. Additionally, there is a focus on eliminating and substituting hazardous chemicals with less impactful materials

3. Emergency Response Testing

• Description: All operational sites periodically test the emergency responses to spills for effectiveness and readiness. This also ensures adequate supply of emergency kits are available at the site
• Scope: Own operations - all operational sites

4. Continuous Inspections and Audits

• Description: There are continuous inspections and audits conducted at the locations to ensure preventive measures identified are implemented as part of the ISO 14001 certification
• Scope: Own operations - all locations
• Link to policy: ISO 14001 certification

5. Water Pollution Training

• Description: In 2024, there were several trainings held on water pollution and classification of observations with participation from the locations
• Scope: Own operations - all locations
• Time horizon: Implemented in 2024
• Resources (non-financial): Training programmes delivered to location personnel

Targets related to pollution

Aker Solutions does not have specific targets in place on pollution and spills. In 2024, the company did not have any reportable spills and their ambition is to prevent spills in operations. The company continues to ensure the objectives of their policies through the actions identified in the pollution-prevention action plans.

Ambition (qualitative only):

• Prevent spills in operations (no quantified target, baseline, or target year provided)

Pollution of air, water and soil

E2-4: Pollution of Water

Pollutants and Microplastics Disclosures

The governance on incident reporting covers the reporting of spills, leaks and discharges. This reporting is available to all employees and reported in Aker Solutions' reporting tool, Synergi. This allows for transparent management of spills and is tracked monthly for performance and internal reporting.

In reference to this database we have no spills that are reportable within our direct control or at our sites and discharges were within the limits for pollutants classified under Annex II of Regulation (EC) No 166/2006.

This is supported by good operational control practices at the locations, and use of secondary containment to capture any potential spills. We also work closely with business partners to ensure the risk management process is utilized to prevent spills.

Context on Pollution Management

Aker Solutions' approach to pollution management is on the prevention of pollution, and control of pollution in the event of unexpected events. The material potential impact related to pollution stems from spills, given operations near or within marine environments.

Pollution-Related Action Plans:

• Project engineering utilizes the Best Available Technologies-process to reduce and minimize impact through alternative chemicals, change of material or equipment to reduce effluents
• All sites and projects update the Aspect and Impacts register annually with impacts quantified from low to extreme, with adequate mitigation required
• Effluent discharges are managed under authority permits and monitored periodically to minimize pollution
• Focus on eliminating and substituting hazardous chemicals with less impactful materials
• All operational sites periodically test emergency responses to spills for effectiveness and readiness
• Continuous inspections and audits conducted at locations as part of ISO 14001 certification
• In 2024, several trainings held on water pollution and classification of observations

Note: Business primarily uses water for personal health, hygiene, and product testing purposes. Locations with wastewater discharge operate under permit controls and must test water before discharge. Water from personal hygiene (sewage) is connected to municipal systems and managed by external parties.

Substances of concern and substances of very high concern

Aker Solutions includes considerations for substances of concern in its EU Taxonomy alignment assessments. The company states:

Manufacture of Renewable Energy Technologies (CCM 3.1) "The activities reported as aligned include considerations for physical climate risks, durability, waste management and substances of concern. The conclusion of our assessment is that the majority of project reported under activity 3.1 meets the DNSH criteria for this activity and are reported as aligned."

Manufacture of Other Low Carbon Technologies (CCM 3.6) "The activities reported as aligned include considerations for physical climate risks, durability, waste management, environmental impact assessment and substances of concern. The conclusion of our assessment is that the project reported under activity 3.6 meets the DNSH criteria for this activity and is reported as aligned."

Installation, Maintenance and Repair of Energy Efficiency Equipment (CCM 7.3) "As this investment is an upgrade of an existing system, documentation of energy efficiency class according to technical screening criteria 7.3 is not met. In addition we have not been able to document use of substances by our subcontractors in time for the reporting. The investment is reported as eligible, not aligned."

No quantitative data on total amounts of substances of concern (SoC) or substances of very high concern (SVHC) in tonnes is disclosed. No breakdown by hazard class is provided. No specific information on REACH compliance monitoring or management approach is disclosed beyond the references to considerations within taxonomy assessments.

Transition plan and consideration of biodiversity and ecosystems in strategy and business model

Aker Solutions recognizes that our activities may have an impact on species population size, due to the current operational site proximity to a protected environmental area. In the value chain, there could be a potential negative impact on species population size due to offshore operations and the associated design of equipment placed in the marine environment.

Integration in strategy and business model

Aker Solutions' structural designs and offshore work plans are subject to the requirements established in the environmental impact assessments and relevant development approval processes that are conducted by the customer. We ensure that these criteria are included into the design, when applicable, in addition to the engineering controls that are inherent to the design and fabrication processes. This approach also integrates requirements of frameworks such as the Kunming-Montreal Global Biodiversity Framework, and the EU Biodiversity Strategy for 2030.

One of Aker Solutions' operational yards in Norway, the Verdal yard, is located near an area (Ørin Nord) which is designated as a Ramsar site due to wetland ecology. A local study has identified several species on the Norwegian Red List, predominately birds (including migratory birds), but also plant and marine life species. Potential long term risks to population sizes of the various species exist due to the site's proximity to the yard and the industrial park, as well as recreational use of the area by other members of the local community. We maintain low activity levels in the area near the protected site. We also communicate with the local council on information pertaining to the protected area. Our operations do not result in impacts to land degradation, desertification or soil sealing.

Use of frameworks

This approach integrates requirements of frameworks such as the Kunming-Montreal Global Biodiversity Framework, and the EU Biodiversity Strategy for 2030.

Policies related to biodiversity and ecosystems

Aker Solutions addresses material impacts related to biodiversity and ecosystems through the following policies and procedures, which are applicable across all of Aker Solutions' operations:

Sustainability policy

• Purpose/Objective: Describes the company's commitment to support the UN SDGs, Global Compact principles, and governs the overall prevention of environmental harm and ensure collaboration with relevant stakeholders to uphold these standards. Additionally, the policy mandates that projects include mitigation plans when operating in environmentally sensitive areas.
• IROs Addressed: Impact on species population size, contribution to global extinction risk
• Scope: Applicable across all of Aker Solutions' operations

HSSE policy

• Purpose/Objective: Promotes safe, reliable and sustainable operations. Focuses on the company's commitment to achieving zero harm to personnel, the environment, and assets.
• IROs Addressed: Impact on species population size, contribution to global extinction risk
• Scope: Applicable across all of Aker Solutions' operations

Aspect and impact procedure

• Purpose/Objective: Identifies environmental impacts related to projects and sites, including those related to biodiversity, ensuring these impacts are managed. This review process ensures a holistic approach to evaluation and mitigation of biodiversity impacts for the company's own operations.
• IROs Addressed: Impact on species population size, contribution to global extinction risk
• Scope: Applicable across all of Aker Solutions' operations

Monitoring: The implementation of company processes is monitored on environment, including biodiversity, as part of the annual review of the Aspect and Impacts Register, and when there are changes, or new projects or sites initiated.

Actions and resources related to biodiversity

Aker Solutions discloses limited specific actions related to biodiversity and ecosystems:

Integration of biodiversity requirements into project processes

• Description: Continue to integrate relevant biodiversity-related requirements for the project and location into the aspect and impacts process, including any design requirements, or other requirements relevant to the scope of work for the project
• Scope: Own operations
• Resources: Not disclosed
• Expected outcomes: Not disclosed

Stakeholder monitoring in value chain

• Description: Continue to monitor stakeholders in the value chain on requirements related to biodiversity impacts
• Scope: Value chain
• Resources: Not disclosed
• Expected outcomes: Not disclosed

Verdal stakeholder engagement

• Description: In Verdal, participate in stakeholder engagement and collaborate with the local council on their plans and programs, where applicable and when relevant
• Scope: Own operations (Verdal site)
• Resources: Not disclosed
• Status: "There are no specific actions at the moment"
• Expected outcomes: Not disclosed

Monitoring and review

• Description: Implementation of company processes are monitored on environment, including biodiversity, as part of the annual review of the Aspect and Impacts Register, and when there are changes, or new projects or sites initiated
• Scope: Own operations
• Resources: Not disclosed
• Expected outcomes: Not disclosed

Note: The company explicitly states "There are currently no biodiversity offsets."

Targets related to biodiversity and ecosystems

We do not have any biodiversity and ecosystem related targets.

The implementation of our company processes are monitored on environment, including biodiversity, as part of the annual review of the Aspect and Impacts Register, and when there are changes, or new projects or sites initiated.

Impact metrics related to biodiversity and ecosystems change

Operations in or near protected areas

Aker Solutions has one operational yard in Verdal, Norway that is located in close proximity to a protected area designated as a Ramsar site (wetland site of international importance under the Ramsar Convention). The specific area near the yard is identified as Ørin Nord.

Species potentially affected

A local study has identified several species on the Norwegian Red List in the Ramsar site area near the Verdal yard, including:

• Birds (including migratory birds) - predominately
• Plant species
• Marine life species

Potential long-term risks to population sizes of these species exist due to the site's proximity to the yard and industrial park, as well as recreational use of the area.

Land use and degradation

The company states: "Our operations do not result in impacts to land degradation, desertification or soil sealing."

Methodology notes

• Biodiversity screening was conducted for all operational sites to determine proximity to key biodiversity areas (KBAs)
• Local research group conducted a study in Verdal focused on benchmarking current biodiversity status and evaluating impact of planned developments
• Community consultations were held with industrial park occupants, adjacent land users, bird protection NGOs, and researchers
• The company maintains low activity levels in the area near the protected Ramsar site

Policies related to resource use and circular economy

Aker Solutions has three policies and procedures that address material impacts, risks and opportunities related to resource use and circular economy. All policies and procedures are applicable across all of Aker Solutions' operations.

Sustainability policy

• Purpose/objective: Describes the company's commitment to support the UN SDGs, Global Compact principles, and governs the overall prevention of environmental harm and ensure collaboration with relevant stakeholders to uphold these standards. Additionally, includes commitment to promote recycling, reuse and circular design in solutions.
• Scope: All of Aker Solutions' operations
• IROs addressed/managed: Enhancing circular economy, resource inflows and consumption, resource outflows, waste management and segregation
• Links to international standards: UN SDGs, Global Compact principles

HSSE policy

• Purpose/objective: Promotes safe, reliable and sustainable operations. Focuses on the company's commitment to achieving zero harm to personnel and the environment, and promotes efficient use of materials and energy and the design of products and services that have no undue environmental impact.
• Scope: All of Aker Solutions' operations
• IROs addressed/managed: Enhancing circular economy, resource inflows and consumption, resource outflows, waste management and segregation

Waste management procedure

• Purpose/objective: Prescribes a waste management hierarchy that is committed to an effective waste management system that conserves natural resources and minimizes environmental harm.
• Scope: All of Aker Solutions' operations
• IROs addressed/managed: Resource outflows, waste management and segregation

Actions and resources related to circular economy

Overview

Aker Solutions is dedicated to minimizing waste and reducing the use of virgin materials in purchased products. Some integration has already been achieved in the design and execution phases. However, there are still opportunities to enhance the reuse of project equipment, despite the challenges posed by the bespoke nature of products.

Going forward, Aker Solutions will review existing policies to implement a more holistic approach towards the value chain and work to integrate circular design and resource efficiency into the early phases of projects. Initiatives are designed to address the entire lifecycle of products, from design to end-of-life, ensuring that each stage contributes to sustainability objectives.

Actions

The following actions are in the pilot stage and are expected to be offered in the next 3 years. These actions are supportive to the policies in place:

1. Verdal technology center robotic technology

• Action: In 2024, the Verdal technology center was designed with robotic technology to enhance the construction of jackets, minimizing wastage in the cutting and welding process and reducing errors
• Scope: Own operations
• Time horizon: Implemented in 2024

2. 3D-printing services

• Action: New services, such as 3D-printing, are being piloted with the value chain to enhance material usage and improve circularity. This process will allow waste materials to be re-circulated, powdered, and remade through printing
• Scope: Value chain
• Time horizon: Pilot stage, expected to be offered in the next 3 years

3. Drone technology for maintenance

• Action: New drone technology for offshore and hard-to-access maintenance areas is being developed to enhance the reliability and longevity of products, thereby improving the current maintenance program
• Scope: Downstream (maintenance)
• Time horizon: Development phase, expected to be offered in the next 3 years

Resources Allocated

Financial resources: No significant CapEx investment has been identified as the actions are in the pilot stage.

Monitoring

Project leads will track the resource use and circularity actions to determine their effectiveness and viability within the next three years.

Targets related to circular economy

Aker Solutions does not have targets or metrics in place related to resource use and circularity.

The company states that project leads will track the resource use and circularity actions to determine their effectiveness and viability within the next three years.

E5-4: Resource Inflows Related to Material Impacts, Risks, and Opportunities

Aker Solutions' inflows are materials that are purchased to fabricate relevant products and services. Of these, the main inflow materials are steel and metals.

Products and Materials

Aker Solutions utilized approximately 106,100 tonnes of materials and products in the reporting period. This includes bulk raw materials, components, consumables and equipment. The weight of the recycled and secondary materials is estimated at 19,289 tonnes (18 percent). There are no biological materials utilized in the inflows.

Methodologies and Calculations

The data for the inflows are based on Aker Solutions' procurement database and estimations based on average recycled content rates for the European metal industry. The methodologies used to calculate the data include:

Inflow Information are Obtained as Given Below:

• Weight of products and materials: Procurement data is collated to obtain weight of materials procured for the project deliveries. Data collected is based on the products that are purchased in the reporting year
• Recycled content: The information provided is an estimate based on industry average values for the metal sector in Europe, and specifically steel, stainless steel and aluminium, which constitute the significant part of inflows. Data are supported by the secondary material information from available raw material EPDs
• All materials are accounted for once, when it is delivered. Any internal processing is identified through the procurement system to prevent double counting
• Materials are traceable though an established tagging system

Key Assumptions Include:

• Recycled content is estimated based on the average rates for the main categories of steel, stainless steel and aluminium. There were no calculations with product specific or supplier specific recycled content rates

Aker Solutions is committed to continuous improvement in our sustainability practices in line with suppliers and customers collaborations. We have also developed EPD capabilities to further improve the overall footprint of our products and services. We will continue to refine our methodologies and enhance our sustainability performance in the years to come.

Resource outflows

Aker Solutions' products are delivered tailored to specific design requirements considering physical properties and location-specific parameters. The products are designed with long operational lifetimes, typically extending 25–30 years, which is significantly longer than the industry average.

Recyclability and circular content: The company's decommissioning activities demonstrate high circularity potential. In one specific decommissioning project mentioned, the topside from an oilfield shut-down in 2021 will be 98 percent recycled, providing valuable building materials for new energy and construction projects. Recycling and reusing metals offers a lower-emissions alternative to metal derived directly from ore.

Product durability: The delivered products and systems are designed for operational lifetimes of 25–30 years, reflecting a focus on longevity that reduces the need for replacement and associated resource consumption.

Design for circularity: Aker Solutions is committed to promoting recycling, reuse and circular design in its solutions, as stated in the Sustainability Policy. The company is working to integrate circular design and resource efficiency into the early phases of projects. New services such as 3D-printing are being piloted with the value chain to enhance material usage and improve circularity, allowing waste materials to be re-circulated, powdered, and remade through printing.

Waste

Total waste generated: Aker Solutions generated 12,330 tonnes of waste in 2024 (10,896 tonnes in 2023).

Waste composition:

• Non-hazardous waste: 11,815 tonnes (95.8 percent)
• Hazardous waste: 515 tonnes (4.2 percent)
• Radioactive waste: 0 tonnes

Waste diverted from disposal: In 2024, 10,963 tonnes (89 percent) of total waste was diverted from disposal through recycling, reuse, and recovery operations. The majority of this was non-hazardous waste (10,589 tonnes), with 374 tonnes of hazardous waste diverted.

Waste directed to disposal: 1,367 tonnes (11 percent) of waste was directed to disposal in 2024, including landfill, incineration with and without energy recovery, and other disposal operations. This included 1,226 tonnes of non-hazardous waste and 141 tonnes of hazardous waste.

Waste management approach: Aker Solutions follows a waste management hierarchy committed to an effective waste management system that conserves natural resources and minimizes environmental harm, as outlined in the Waste Management Procedure. The HSSE policy promotes efficient use of materials and energy and the design of products and services with no undue environmental impact.

Waste generation is registered at all locations per waste type. The emissions factors are applied according to waste treatment activity. Data is provided by waste contractors, facilities management and actual measurement. All waste data refers to waste generated in Aker Solutions' own operations (scope 1 and 2 boundaries).

Policies related to own workforce

Aker Solutions addresses material impacts, risks and opportunities related to its own workforce through several policies and governing documents applicable across all operations.

Code of Conduct

Scope: Applicable across all of Aker Solutions' operations wherever the company conducts business

Governance: Endorsed by the Board of Directors. Reviewed and approved by the Board every third year, with the most recent review and approval in November 2024.

Key content: Constitutes a framework for managing compliance and integrity risks. Outlines overall commitments and requirements regarding business practice, personal conduct and expectations towards business partners. Describes the behaviors and actions expected of all employees. Outlines clear principles and rules in key compliance and integrity areas, including caring for people which comprises human rights and labor rights, health, safety and security, anti-harassment and diversity topics.

Public availability: Available in the company's management system and on the website

Alignment with standards: The framework addresses compliance and integrity risks in accordance with applicable ethical standards, laws and regulations domestically and internationally.

IROs addressed: Diversity imbalance and discrimination, workplace harassment

Monitoring: Aker Solutions has control systems in place throughout the organization designed to identify and limit the effects of violations of the Code of Conduct. Employees violating the code face consequences ranging from a warning to dismissal. The Audit Committee regularly reviews compliance with the Code of Conduct.

Human Rights Policy

Scope: Applicable to own workforce across all operations globally

Governance: Approved by the executive management team

Key content: Follows the UN Guiding Principles on Business and Human Rights. Describes due diligence aligned with the UN Guiding Principles for Business and Human Rights. States that the company has a zero-tolerance approach to modern slavery and human trafficking as well as child and forced labor.

Alignment with standards: Aligned with the International Bill of Rights and the International Labor Organization Fundamental Conventions, including the eight fundamental conventions identified in the Declaration of the International Labor Organization. Describes due diligence aligned with the UN Guiding Principles for Business and Human Rights. The company continues to adhere to the Voluntary Principles on Security and Human Rights and is a signatory to the UN Global Compact. The company supports the OECD Guidelines for Multinational Enterprises.

Public availability: Available in seven languages in the management system and on the website

IROs addressed: Adequate housing, health and safety impacts, breach of workforce privacy, excessive working hours

Monitoring: Human rights monitoring is embedded in a global compliance program managed by the Compliance and Integrity team. The approach consists of governance and commitment, measures to identify negative human rights impacts, and measures to prevent and mitigate negative human rights impacts.

People Policy

Scope: Applies to all employees across Aker Solutions' operations

Key content: Describes Aker Solutions' commitment to the principles of non-discrimination and equal opportunity regardless of gender, age, nationality, or other factors. Describes commitment to providing all employees with opportunities for competency development, ensuring a motivated and competent workforce. The company is committed through this policy to creating an environment where everyone has the opportunity to learn, build new skills and further develop.

IROs addressed: Work-life balance, temporary and part-time employment, well-managed workforce, diversity imbalance and discrimination, gender pay gap, workplace harassment, training and skills development

Monitoring: The company monitors and promotes diversity and equal treatment in recruitment, promotions, competency development and salary reviews.

HSSE Policy

Scope: Applicable across all of Aker Solutions' operations

Key content: Promotes safe, reliable and sustainable operations

IROs addressed: Work-life balance, health and safety impacts

Monitoring: Aker Solutions is certified to ISO 45001-Occupational Health and Safety and ISO 14001-Environment Management. The HSSE Management system is based on the principles and requirements of these standards. To ensure continual improvement of the system, business level annual reviews are included in the Aker Solutions Management Review. Regular internal audits at location level and an annual external audit are important parts of the improvement process.

Data Protection and Information Security Policy

Scope: Applicable across all operations

Key content: Ensures Aker Solutions handles information in a compliant and secure way, processes personal data fairly and with transparency and respects individual's rights to privacy.

Public availability: Publicly available on the website

IROs addressed: Breach of workforce privacy

Local HR Policies

Scope: Applicable in each country where Aker Solutions operates

Key content: Ensuring compliance with local employment law and regulations, and ensuring an attractive place to work by adapting to local practice.

IROs addressed: Temporary and part-time employment, payment of living wage, disparity in parental leave duration

Global Whistleblowing Procedure

Scope: Applicable globally to all employees and external parties

Governance: Maintained by the Compliance and Integrity department, which has a mandate from the Board of Directors to investigate suspected compliance and Code of Conduct violations

Key content: Establishes a process for whistleblowing to detect, prevent and combat corrupt and/or unethical behavior. Ensures clear and observable procedures for how to report a concern and how such matters are handled. The company does not tolerate retaliation against anyone who speaks up in good faith. The whistleblowing channel is maintained by a third-party and allows for anonymous reporting.

Public availability: Available at http://akersolutions.com/whistleblowing or by email to whistleblowing@akersolutions.com

IROs addressed: Work-life balance, temporary and part-time employment, diversity imbalance and discrimination, gender pay gap, workplace harassment

Monitoring: All notifications are received and managed by the Compliance and Integrity department and treated with strict confidentiality. The department reports quarterly to the Audit Committee.

Global Framework Agreement

Scope: Agreement with unions and employee representatives for Aker ASA portfolio of companies

Key content: Aker Solutions has committed to respecting and supporting fundamental human rights and trade union rights including collective bargaining rights, payment of living wage, health and safety and other employment conditions.

Public availability: Publicly available at https://akerasa.ams3.cdn.digitaloceanspaces.com/other/Global-Framework-Agreement-2023.pdf#asset:67362:url

IROs addressed: Collective bargaining rights, employee engagement

Housing Procedure

Scope: Applicable where workers require housing

Key content: Ensuring adequate housing of workers by setting standards and procedures for identifying and rectifying any deficiencies.

IROs addressed: Adequate housing

Employee Survey Procedure

Scope: Applicable to all employees

Key content: Describes the principles, process steps, main roles and responsibilities associated with employee surveys that measure employee engagement and organizational effectiveness.

IROs addressed: Employee engagement

Monitoring: The main employee survey was distributed to all employees three times in 2024. Line managers and teams meet to share the results and discuss plans to maintain or improve the work environment. The results are discussed in company democracy forums with union and safety representatives.

Time Reporting Procedure

Scope: Applicable across all operations

Key content: Ensuring that the process for recording and approval of working hours is described, and that the recording is followed-up and documented on a regular basis.

IROs addressed: Excessive working hours

Taking action on material impacts on own workforce

Preventing and Mitigating Negative Impacts

HSSE Risk Management

• Aker Solutions ensures HSSE risks are systematically identified, assessed, and addressed at appropriate levels based on nature and potential of risk
• Risk assessments undertaken by competent personnel, involve affected personnel, include external expertise as appropriate
• Risk assessments documented and subject to review process
• Risk mitigation measures identified and completed; risk control equipment and practices included in design, construction and operations
• Following incidents, investigations performed and corrective actions identified to prevent reoccurrence
• Lessons learned prepared in reports and shared across business to ensure implementation in all areas

Occupational Health and Well-being

• Comprehensive occupational health offerings and proactive medical support
• In Norway: collaboration with dedicated company doctors for illness follow-ups
• Aim: reducing sick leave and facilitating early and sustainable returns to work
• Mental health and well-being programs provided to address non-physical aspects of workforce health

Diversity and Equal Treatment

• Monitor and promote diversity and equal treatment in recruitment, promotions, competency development and salary reviews
• Ensure all personnel processes are free of biases by design and in practice

ISO Certifications

• Certified to ISO 45001 (Occupational Health and Safety) and ISO 14001 (Environment Management)
• Management system based on principles and requirements of these standards
• Procedures developed based on aspects, risks, ISO requirements and local/country-specific legislation
• Regular internal audits at location level and annual external audits
• Business level annual reviews included in Aker Solutions Management Review

Remedial Actions for Material Impacts

• Actions discussed and set between management and employee representatives through:
  • Local working environment committees
  • Corporate working environment committee (company-wide or regional level)

Addressing Material Opportunities

#SKILLS Learning Initiative

• Launched in 2022
• Platform and community with multiple tools and resources to learn, develop and share knowledge
• Provides access to world-class online learning content (e.g., Coursera)
• Collaboration with universities and partners to upskill employees in critical skills
• Performance: Average 10.3 hours per employee on formal training in 2024 (up from 5.9 in 2023)
• Additional informal internal and external knowledge sharing activities

Always Safe Program

• Entered in 2020 (collaboration with customers and industry peers)
• Common safety modules shared quarterly
• Focus areas: major accident hazards, preventing personal injuries, safe work at height, preventing falling objects, working environment
• Drives HSSE culture and engagement
• Creates awareness of main HSSE risks and opportunities

Client HSSE Collaboration

• Significant part of onboarding process when contracts awarded
• Duty of care audits completed prior to mobilizing personnel
• Stop Work Authority encouraged whenever unsafe conditions observed
• Supported by all management levels

Industry Participation

• Work to influence and build health and safety measures through participation in:
  • International Association of Oil & Gas Producers (IOGP)
  • Step Change in Safety (UK)
  • Norsk Industri (Norway)
  • Other organizations globally

Allocation of Resources for Managing Material Impacts

HSSE Resources

• Dedicated team of HSSE advisors across the globe
• Team regularly reviewed against business need and workload
• Function operates at corporate level and on local initiatives owned by business lines

HR Resources

• HR supports key projects to ensure alignment, leadership development, collaboration and performance
• Centralized learning function supports business with operational and strategic competence development

Note: No specific financial resources (capex/opex amounts) quantified for these actions.

Targets related to own workforce

Aker Solutions has established targets in two key areas: Health and Safety, and Gender Balance.

Health and Safety Targets

Definitions:

• TRIF: Total recordable injury frequency includes fatalities, lost time injuries (serious and other lost time injuries), restricted work injuries and medical treatment injuries per million worked hours but does not include first aid treatment cases.
• SIF: Serious incident frequency measures the number of actual serious incidents per million working hours.
• Sick leave: Comprehensive health program aims to support overall well-being and reduce employee absenteeism.

Gender Balance Targets

Aker Solutions' gender diversity targets were decided by the executive management team and launched in early 2024:

Notes on Gender Balance Progress:

• Over the course of 2024, there was a 13.3% increase in the number of women in all leadership roles
• 12% increase of women in senior leadership roles
• Approximately 27% of top 200 leaders are women
• Gender balanced graduate recruitment target was reached in 2024

Scope: The targets apply to Aker Solutions' own workforce across all locations (15 countries).

Target Type:

• Health and Safety targets are absolute targets based on rates per million working hours
• Gender Balance targets are percentage-based representation targets

External Validation: Not mentioned for these targets. Targets are set internally through consultation with the Working Environment Committee (management and employee representatives) and approved by the executive management team/CEO.

Characteristics of the undertaking's employees

Total Headcount

As of December 31, 2024:

• Total employees: 11,777
• Located in 15 countries

As of December 31, 2023:

• Total employees: 11,473

Headcount by Gender

Headcount by Country

Countries with at least 50 Employees (2024):

Note: The company operates in 15 countries: Angola, Brazil, Brunei, Canada, China, Finland, France, India, Malaysia, Norway, Poland, Saudi Arabia, Sweden, USA, UK.

Headcount by Contract Type (by Gender)

*Gender as specified by employees themselves.

Headcount by Contract Type for Norway

Norway (representing >10% of workforce):

Employee Turnover

2024:

• Number of employees who left: 874
• Turnover rate: 7.42%

New Hires

2024:

• More than 1,700 new employees welcomed during the year

Age Distribution

Non-Employee Workforce

2024:

• 8,366 non-employee self-employed workers or workers provided by an employment agency

Methodology Notes

Employee numbers are reported on head count basis as of December 31, 2024. Employees not reported in SAP are not included and diversity information, including gender, is not available. For 2024 there were 85 employees not reported in SAP (1 in China, 4 in France and 80 in Norway).

In 2024, there were 20 people registered as non-guaranteed hours employees. These are summer interns and are registered this way to avoid problems with time accounting if they take a holiday during their internship.

Approximately 96% of employees are permanent employees, and 77% are located in Norway. Approximately 2% are part-time employees.

FTE data: Not disclosed in the excerpts provided.

Characteristics of non-employees in the undertaking's own workforce

Number of Non-Employee Workers

At the end of 2024, Aker Solutions had 8,366 non-employee self-employed workers or workers provided by an employment agency.

Methodology

The disclosure is presented in the context of the materiality assessment discussion (S1-SBM-3 section). The company states that "at the end of 2024, Aker Solutions had 11,777 employees located in 15 countries" and separately notes "there were 8,366 non-employee self-employed workers or workers provided by an employment agency."

The measurement appears to be based on headcount at a point in time (year-end 2024). No breakdown by type of non-employee (contractor vs. agency vs. self-employed) is provided beyond the combined descriptor "self-employed workers or workers provided by an employment agency."

Multi-Year Comparison

No comparative figures for prior years (2023 or earlier) are disclosed for non-employee workers.

Additional Context

The company notes in its HSSE management system coverage section that external personnel, suppliers, and visitors working at Aker Solutions locations are required to comply with the same HSSE procedures as employees. At Aker Solutions' yards, there is direct contact with value chain workers hired to work on particular parts of a project or for a particular duration, who must go through onsite HSSE onboarding.

The organization also references that the majority of potential material impacts on the value chain workforce occur in construction phases at owned and subcontracted yards, noting the cyclical nature of project activity requiring agility and partnerships with specialists.

Collective bargaining coverage and social dialogue

Aker Solutions actively engages with workers on labor rights through a variety of channels, including meetings with labor unions, work councils, and joint management worker committees. The company has maintained a Global Framework Agreement for several years, and the latest global works council agreement was revised in 2023. Discussions with employee representatives cover topics such as people strategy, policies and procedures, with key areas of focus including health and safety, standards for decent work, human rights, labor rights, and compliance with applicable regulations in each country of operation.

Sites covered by unions

Aker Solutions' sites that are covered by unions are Norway, Sweden and Canada. In addition, the UK recognizes all unions, but due to legislation, union membership is not registered in the company's HR records.

Overall collective bargaining coverage

Overall, 60 percent of Aker Solutions' global workforce is covered by collective agreements. Collective bargaining takes place at a frequency agreed with the local unions.

In Norway, non-organized workers typically benefit from the same compensation adjustments negotiated at the industry level. In addition, workers on individual agreements may receive adjustments based on company and individual performance, and external benchmarking. In regions where union representation is not so common, the company uses the global work council set-up to discuss worker management relations to ensure fair treatment.

Collective bargaining coverage by geography

Aker Solutions does not have more than 50 employees representing more than 10 percent of total employees in any non-EEA countries. Data on collective agreements and social dialogue are based on input from local HR records.

Strikes and lockouts

In 2024, there were no strikes exceeding one week and no lockouts.

Diversity metrics

Top Management Gender Diversity

For the purpose of disclosing gender diversity at the top management level, Aker Solutions adheres to the definition of one and two levels below the supervisory bodies. This includes the CEO, executive management team and their direct reports.

Age Distribution across Our Workforce

Board Gender Diversity Ratio (SFDR disclosure)

Page 25 reference noted in index for Board's gender diversity ratio (GOV-1).

Board of Directors Composition (from Board of Directors section)

Office-based roles - gender distribution (Norway):

Non-office based roles - gender distribution (Norway):

Total Norway workforce: 79% male, 21% female

Adequate wages

Aker Solutions states that it is "committed to providing compensation packages that are competitive within our industry and geographic markets." The company regularly benchmarks salaries and benefits against similar companies using "top-tier data providers in the field of compensation and rewards" and gathers insights from industry networks and government statistics.

Benchmark used: No living wage benchmark is disclosed. The company states: "All our salaries exceed the legal minimum wage regulations."

Coverage: The company reports: "No employees at Aker Solutions receive below adequate wages." This appears to cover 100% of own workforce, but the assessment is based on exceeding minimum wage, not a living wage benchmark.

Geographic scope: Global operations, with the company noting it "compare[s] and provide[s] compensation packages based on the local markets' employees are in" to ensure "compensation practices are fair and reflective of the local economic conditions."

Methodology: The adequacy assessment is based on:

• Exceeding legal minimum wage regulations
• Benchmarking against similar companies in the industry
• Consideration of local market conditions
• Data from top-tier compensation and rewards providers
• Industry networks and government statistics

No living wage methodology (e.g. Fair Wage Network, WageIndicator, Anker Methodology) is mentioned.

Targets: No targets disclosed for living wage provision.

Value chain: The Supplier Declaration requires that "wages are fair" and suppliers must comply with local laws and regulations. Supplier audits address "fair wages" but no living wage benchmark for value chain workers is disclosed.

Persons with disabilities

Aker Solutions identifies "Discrimination of Persons with Disabilities" as a material impact in its materiality assessment. The company addresses this through various policies and procedures including the Human Rights Policy, Business Integrity policy, and Business ethics training procedure.

However, no quantitative data on the percentage of employees with disabilities is disclosed in the reporting period. The company does not provide metrics on the proportion of own workforce with disabilities, methodology for data collection (such as self-identification or official registration), or any country-specific exclusions where reporting on disability status may be restricted.

While the topic is acknowledged as material and integrated into the company's human rights framework and Code of Conduct commitments on non-discrimination, no employee disability statistics are reported for 2024 or prior years.

Health and safety metrics

Coverage

100% of people are covered by Aker Solutions' health and safety management system. The HSSE Management system includes requirements for all employees (full-time, part-time and temporary staff), external personnel, suppliers and visitors working at or visiting all Aker Solutions locations. The system is certified to ISO 45001.

Health and Safety Performance 2024

Targets and Performance

Methodology

Health and safety metrics are calculated based on actual data from incident reports and timesheets. There are no estimates or assumptions used. The rate of recordable work-related accidents is based on total man hours in 2024 of 42,878,373. Aker Solutions' reporting includes employees and non-employees. Rates are calculated per million man hours.

TRIF (Total recordable injury frequency) includes fatalities, lost time injuries (serious and other lost time injuries), restricted work injuries and medical treatment injuries per million worked hours but does not include first aid treatment cases.

SIF (Serious incident frequency) measures the number of actual serious incidents per million working hours.

Work-life balance metrics

Parental Leave - Norway

Duration of Parental Leave (2024)

Methodology Notes:

• Data covers employees in Norway only
• Parental leave follows legal regulations and individual choices
• Figures represent average paid parental leave taken during 2024
• Higher number of women started parental leave in 2023, so those days are not counted in the 2024 averages
• Aker Solutions pays full salary to employees on parental leave, including for employees with higher salary than the cap in Norwegian social security regulations

Material Impact Identified:

• "Disparity in parental leave duration" is identified as a negative impact with short-term (<1 year) time horizon
• Impact description: "While Aker Solutions adheres to legal regulations regarding parental leave and pays full salaries during this period, there is a notable difference in the average duration of paid parental leave taken between female and male employees."

Note: The report does not disclose:

• % of employees entitled to family-related leave (maternity/paternity/parental/family care)
• % of entitled employees who took family-related leave by gender
• Return-to-work rates after parental leave
• Data for countries outside Norway
• Multi-year comparisons for parental leave duration

Compensation metrics

Pay gap

Aker Solutions reports gender pay gap using the CSRD methodology. Based on the CSRD methodology, the male-female pay gap for the countries reported in the data pool is 7.00 percent.

The data pool includes employees from Aker Solutions offices in Norway, India, Brunei, Malaysia, Canada and UK.

Gender Pay Gap (CSRD)

The CSRD pay gap shows the percentage difference in male-female gross hourly earnings. The data pool included the following pay components: base salary, overtime pay, shift premiums, allowances, and bonuses.

Additional Norwegian Reporting (ARP methodology)

For Norwegian regulatory purposes, Aker Solutions also reports gender pay gap using a different methodology. Based on the Norwegian reporting requirements, the weighted women's average salary in percentage of men's weighted average salary (including non-office roles) is 96 percent for base salary and 90 percent for total compensation.

The Norwegian methodology shows the percentage difference between the average gross salary of men and women by base salary and total compensation, split into job level categories.

Remuneration ratio

The remuneration ratio of the highest paid individual (CEO in Norway) to the median annual total remuneration for all employees (excluding the highest-paid individual) is 15:1.

This ratio does not account for cost-of-living adjustments, local market rates, and economic conditions.

Methodology

Data pool: The data pool includes active employees who worked the full year from year end 2023 to year end 2024, encompassing both permanent and temporary office and non-office workers. Due to the size and limited number of females in some office locations, the 2024 analysis includes employees from Aker Solutions offices in Norway, India, Brunei, Malaysia, Canada and UK.

Pay components: The analysis included base salary, overtime pay, shift premiums, allowances, and bonuses.

Pay philosophy: Aker Solutions has a pay philosophy whereby they compare and provide compensation packages based on the local markets employees are in. This approach ensures that compensation practices are fair and reflective of the local economic conditions.

Incidents, complaints and severe human rights impacts

Aker Solutions firmly opposes all forms of human trafficking, slavery, servitude, forced labor, and any related activities, as clearly stated in our Human Rights policy.

Incidents of discrimination and harassment

During 2024, there were reported 12 cases of alleged discrimination including harassment. Based on our internal investigation process, three cases were concluded as substantiated in terms of harassment. One case is still under investigation and conclusion has not been reached as of publication of this report.

These are all internal cases and there were no fines, penalties or compensation for damages.

Severe human rights impacts

Our monitoring has not revealed severe human rights incidents connected to our workforce.

Policies related to value chain workers

Aker Solutions has established several governing documents to develop effective and consistent human rights standards across its business and set expectations for suppliers' and employees' decision-making. These policies comply with international standards and are applicable across all of Aker Solutions operations. Every policy is checked and approved by separate people before publishing, who are responsible to monitor the documents and review periodically.

Code of Conduct

Purpose/Objective: Outlines overall commitments and requirements, including those towards the supply chain.

IROs Addressed: Work-life balance, Temporary and part-time employment, Excessive working hours, Payment of living wage, Freedom of association and collective bargaining rights, Health and safety impacts, Employee engagement deficit.

Governance: Owned by the Compliance and Integrity team with sign off from the CEO. Reviewed at least annually with changes made to reflect business and societal needs.

Scope: Applicable to all suppliers.

Public availability: The Code of Conduct and Supplier Declaration are the primary documents to engage with the supply chain and address the issues of worker safety and rights.

Business Integrity policy

Purpose/Objective: Outlines overall principles for business integrity in dealing with business partners.

IROs Addressed: Diversity disparity and discrimination, Insufficient workforce training, Discrimination of persons with disabilities, Workplace harassment.

Human Rights Policy

Purpose/Objective: To respect human and labor rights.

IROs Addressed: Diversity disparity and discrimination, Insufficient workforce training, Discrimination of persons with disabilities, Workplace harassment.

International standards: The company's commitment to human and labor rights is covered by the Global Framework Agreement between Aker ASA and the Norwegian and international trade unions Fellesforbundet, IndustriALL Global Union, NITO and Tekna.

Supplier and subcontractor declaration form

Purpose/Objective: Aligns Aker Solutions' sustainability principles with the supply chain.

IROs Addressed: Work-life balance, Temporary and part-time employment, Excessive working hours, Payment of living wage, Freedom of association and collective bargaining rights, Health and safety impacts, Employee engagement deficit, Diversity disparity and discrimination, Insufficient workforce training, Discrimination of persons with disabilities, Workplace harassment, Housing standards in the supply chain, Child labor in the supply chain, Forced labor in the supply chain, Supply chain privacy violations.

Governance: Owned by supply chain and signed off by heads of the relevant functions. Reviewed at least annually with changes made to reflect business and societal needs.

Scope: Applicable to Level 2 to Level 4 suppliers, reflecting the influence and risk level the suppliers pose to the business.

Implementation: The Supplier Declaration is used in supplier pre-qualification processes, and a commitment to the Supplier Declaration is a prerequisite for becoming qualified as a supplier, vendor or subcontractor to Aker Solutions. Senior leader sign off is expected to confirm adherence and cascade to their own value chain.

International standards: The policies explicitly address forced labour and child labour, aligned with internationally recognised standards including relevant ILO conventions.

Country risk procedure

Purpose/Objective: Reduce the risk exposure of Aker Solutions when conducting business in countries associated with high corruption, reputational and/or political risks.

IROs Addressed: Housing standards in the supply chain, Child labor in the supply chain, Forced labor in the supply chain, Supply chain privacy violations.

Governance: Signed off by head of sustainability, compliance and integrity.

HR Global recruitment principles and guidance document

Purpose/Objective: Along with child documents, outlines the interfaces between HR and external resource companies.

IROs Addressed: Housing standards in the supply chain, Child labor in the supply chain, Forced labor in the supply chain, Supply chain privacy violations.

Governance: Signed off by the head of people and transformation.

Monitoring implementation

Aker Solutions monitors implementation through several mechanisms:

• Contractual clauses signal expectations and respect for internationally recognized human rights to business associates and allow Aker Solutions to demand that a contractual party address and eventually rectify human rights violations or terminate a contract if deemed necessary
• 'Audit rights' clauses are included in contracts with suppliers to verify their compliance with the Supplier Declaration commitments on a risk basis
• Through relationship with an independent company, 56 audits were carried out on suppliers in the Norwegian supply chain in 2024
• Regular inspections of own locations, projects and business partners are performed
• Controls of human rights guidelines and directives are regularly carried out, sometimes in conjunction with broader review of health and safety, procurement procedures and/or quality
• Supply chain teams conduct ISO-based supplier audits, where human rights and anti-corruption are parts of the audit program
• Risk-based audit selection methodology ensures that high risk suppliers are subject to audits
• Three external specialized human rights audit service providers support supply chain auditing efforts and expand on-site and worker-centric audit capacity
• Several desktop and onsite audits at subcontractors' sites in various countries were conducted in 2024 to assess working conditions and compliance against local laws and international standards
• Every supplier is reviewed and awarded a risk score from level 1 to level 4, denoting which policies the supplier must sign and adhere to

Commitment to international standards

The company strives to ensure that suppliers, vendors and subcontractors share its commitment to safety, business integrity, respect for human and workers' rights and compliance. The policies explicitly address forced labour and child labour, aligned with internationally recognised standards. The company's commitment to human and labor rights is covered by the Global Framework Agreement between Aker ASA and the Norwegian and international trade unions Fellesforbundet, IndustriALL Global Union, NITO and Tekna. Audit scope is closely linked to defined salient issues relevant for potential negative impacts to people in the supply chain, including addressing forced labor indicators, responsible recruitment system, fair wages and reasonable working hours, safe, healthy and secure workplace and accommodations, and implementing effective subcontractor due diligence systems.

Taking action on material impacts on value chain workers

Performance and Continuous Improvement (2024)

Core compliance framework maintenance

• Maintained global compliance policies including anti-corruption, human rights and sanctions compliance frameworks
• Reviewed and conducted audits to gain insight into value chain
• Investigated all whistleblower reports received
• Code of Conduct annual certification e-learning available to company personnel
• Scope: Upstream suppliers in Europe and Asia
• Time horizon: Short-term (2024)

Heightened due diligence in conflict-affected zones (Israel and Palestine)

• Follow recommendations from Norwegian authorities
• Assessment based on UN Guidance document on heightened human rights due diligence for business in conflict-affected contexts
• No increased risk identified through this process
• Scope: Upstream value chain
• Time horizon: Short-term (2024)

Due Diligence and Audit Activities

Human rights due diligence initiatives

• Conducted on selected projects and country level, including higher risk countries
• Joint human rights due diligence follow-up plan with client for strategic contractor
• Monitoring progress to mitigate risk of deterioration of working conditions
• Scope: Upstream suppliers
• Time horizon: Short-term (ongoing)

Supply chain audits

• 56 audits carried out on suppliers in Norwegian supply chain through independent company
• Several desktop and onsite audits at subcontractors' sites in various countries
• Scope: working conditions and compliance against local laws and international standards, including ILO conventions
• Focus areas: forced labor indicators, responsible recruitment, fair wages, reasonable working hours, safe/healthy workplace and accommodations, subcontractor due diligence
• Scope: Upstream value chain, focus on construction phase at owned and subcontracted yards in Norway, Europe and Asia
• Time horizon: Short-term (2024)
• Outcome: No significant human rights cases found in 2024; continued activity on adverse impacts found previously

Supplier Management Actions

Supplier pre-qualification and onboarding

• Supplier Declaration used in pre-qualification processes
• Commitment to Supplier Declaration prerequisite for qualification
• Risk-based supplier categorization (levels 1-4)
• Contractual 'audit rights' clauses to verify compliance
• Scope: All suppliers (upstream)
• Time horizon: Ongoing
• Links to: Supplier Declaration, Code of Conduct

Site inspections

• Regular inspections of own locations, projects and business partners
• Controls of human rights guidelines and directives
• ISO-based supplier audits including human rights and anti-corruption
• Risk-based audit selection methodology for high-risk suppliers
• Three external specialized human rights audit service providers engaged
• Scope: Own operations and upstream suppliers
• Time horizon: Ongoing

Collaborative Approach

Joint working group with client and contractor

• Established in identified geographical risk area
• Resulted from audit at major contractor site
• Expected outcome: Specific improvements of identified areas at risk, raised awareness about working conditions, positive alignment of partners with Aker Solutions' commitment to human and workers' rights
• Scope: Upstream value chain
• Time horizon: Short to medium-term

Planned Actions (2025)

Priority areas for 2025

• Continued risk-based operationalization of human rights framework in supply chain
• Continued awareness and competence building on human rights and business for employees
• Risk-based human rights and worker-centric audits of selected suppliers
• Enhanced collaboration with external stakeholders for lasting positive impact in higher risk areas of common supply chains
• Increase visibility of work undertaken in segments, share learnings, drive consistency
• Scope: Upstream suppliers in countries identified as high risk (UAE, Brunei, Malaysia, Angola, India, China)
• Time horizon: Short-term (2025)
• Links to: Human Rights Policy, Business Integrity Policy, Supplier Declaration

Resource Allocation

Human Resources

• Cross-company collaboration across Business Integrity, Supply Chain, Procurement and Projects functions

Financial Resources

• Dedicated human rights budget exists to support the Company beyond compliance (specific amounts not disclosed)

Technological Resources

• Investment in technological and software tools to monitor and track global trends
• User-friendly information delivery systems

Training and Development

• Mandatory Code of Conduct and Business Integrity training for all new starters
• Free self-learning resources available for all staff

Commitments

Human rights policy commitments

• Continue to assess human rights at supplier onboarding
• Maintain 100% completion of human rights assessment at onboarding

Targets related to value chain workers

In 2024, Aker Solutions did not have any targets for workers in the value chain. The company will review how this might complement their business in 2025.

Human Rights Policy Commitments

Aker Solutions will continue to assess human rights at supplier onboarding and maintain a 100 percent completion of this.

Priority Areas for 2025

The following are priority areas for 2025 (qualitative goals, not quantified targets):

• Continued risk-based operationalization of the human rights framework in the supply chain
• Continued awareness and competence building on human rights and business for employees
• Carry-out risk-based human rights and worker-centric audits of selected suppliers based on established plan
• Enhance collaboration with key external stakeholders to ensure a lasting positive impact on human rights and working conditions for identified higher risk areas of common supply chains

Policies related to affected communities

Aker Solutions does not have a policy in place specifically for affected communities. However, the company works to communicate proactively, openly, transparently and consistently about status for ongoing business and operations as well as expected future development. Aker Solutions strives to be a desired neighbor in the communities where it has business activities.

Human Rights Policy

While not specifically designed for affected communities, Aker Solutions' Human Rights Policy has relevance to this stakeholder group:

• Alignment with international standards: The policy follows the UN Guiding Principles on Business and Human Rights, including the eight fundamental conventions identified in the Declaration of the International Labor Organization and the International Bill of Human Rights

• Key principles: The policy declares that the company shall conduct its business with integrity, respecting the laws, cultures, dignity and rights of individuals in all countries where it operates, with the ambition that operations do not cause or contribute to any infringement of human and labor rights

Grievance mechanism

• Channels: Aker Solutions' whistleblowing channel is anonymous and open to anyone. The company website has an option to send feedback, comments and questions to communications staff in locations around the world

Taking action on material impacts on affected communities

Aker Solutions engages with local public authorities and local businesses in and around key locations where we have potential for positive impact. Such contact is adapted to local conditions but typically includes:

• Engagement in local business associations and with local authorities to present forecasts for employment opportunities
• Dialogue with local schools to communicate opportunities for apprenticeships and jobs

Monitoring and Effectiveness

Effectiveness of our actions is informally monitored through community engagement meetings. In addition, Aker Solutions participates in regional business associations with local authorities and stakeholders. Opportunities and potential risks are reported to site management and, if relevant, to corporate management.

Grievance Mechanism

Aker Solutions' whistleblowing channel is anonymous and open to anyone. In addition, our website has an option to send feedback, comments and questions to communications staff in our locations around the world.

Community Consultation (Verdal)

In Verdal, we actively participated in the local council's stakeholder engagement initiative aimed at assessing current biodiversity and planning future development for the area. Multiple sessions were conducted with all relevant parties, including industrial park occupants, adjacent land users, a non-governmental organization focused on bird protection, and researchers. The research group conducted a study focused on benchmarking the current biodiversity status, evaluating the impact of planned developments in the area, and enhancing measures for bird protection in the event of development. Their recommendations have been shared with relevant stakeholders.

Business conduct policies and corporate culture

Aker Solutions has established a comprehensive framework of policies to manage business conduct and corporate culture. The company's Board of Directors oversees these policies, with the Audit Committee providing quality assurance. The executive management team, led by the CEO, is responsible for implementation.

Code of Conduct

Scope: All employees, suppliers, and business partners globally

Approval and oversight: Endorsed by the Board of Directors; reviewed and approved every third year (most recent review and approval in November 2024)

Key content:

• Framework for managing compliance and integrity risks
• Describes commitments and requirements regarding business practice, personal conduct, and expectations towards business partners
• Covers anti-corruption and anti-bribery policy statements
• Addresses gifts and hospitality, conflict of interest, sponsorships and donations, facilitation payments
• Caring for people including human rights and labor rights, health, safety and security
• Anti-harassment and diversity topics
• Zero tolerance for corruption

Public availability: Available in the management system and on the company website

International standards: Aligned with the Norwegian Code of Practice for Corporate Governance (revised October 14, 2021)

Monitoring: Annual mandatory Code of Conduct certification e-learning for all employees (96% completion rate among office-based employees in 2024, representing 73% of total workforce - approximately 8,485 employees)

Business Integrity Policy

Scope: All business levels in Aker Solutions' organization globally

Approval and oversight: Endorsed by the CEO

Key content:

• Supplements the Code of Conduct
• Sets clear responsibilities and procedures for managing compliance and integrity risks
• Describes commitments and behaviors for conducting business with integrity
• Outlines overall principles for business integrity in dealing with business partners

Monitoring: Implemented and operationalized through a global compliance program

Human Rights Policy

Scope: Applicable to own workforce and value chain; available in seven languages

Approval and oversight: Approved by the executive management team

Key content:

• Commitment to respecting human and labor rights
• Zero-tolerance approach to modern slavery and human trafficking, child and forced labor
• Opposition to modern slavery in all forms
• Support for internationally proclaimed human and labor rights

Public availability: Available in the management system and on the company website

International standards:

• Aligned with the International Bill of Rights
• International Labor Organization (ILO) Fundamental Conventions
• UN Guiding Principles on Business and Human Rights
• OECD Guidelines for Multinational Enterprises
• UN Global Compact (signatory)
• Voluntary Principles on Security and Human Rights

Monitoring: Embedded in global compliance program managed by Compliance and Integrity team; quarterly reporting to Audit Committee by Human Rights Committee

HSSE Policy

Scope: All Aker Solutions locations, employees, external personnel, suppliers, and visitors

Key content:

• Promotes safe, reliable and sustainable operations
• Ensures HSSE risks are systematically identified, assessed, and addressed
• Emergency response and corporate culture of safety

International standards: Certified to ISO 45001 (Occupational Health and Safety) and ISO 14001 (Environment Management)

Monitoring: Risk assessments undertaken by competent personnel; annual reviews included in Management Review; regular internal audits and annual external audits

Data Protection and Information Security Policy

Scope: All operations globally; effective for any party the company interacts with

Key content:

• Ensures information is handled in compliant and secure way
• Processes personal data fairly and with transparency
• Respects individual rights to privacy
• Protects company information through electronic and physical safeguards

Public availability: Available on the company website

International standards: Complies with General Data Protection Regulation (GDPR)

People Policy

Key content:

• Commitment to non-discrimination and equal opportunity regardless of gender, age, nationality, or other factors
• Provides all employees with opportunities for competency development
• Ensures motivated and competent workforce

Governance Policy

Part of Aker Solutions' Management System consisting of twelve policies anchored at the highest level, signed off by relevant executive vice president alongside the CEO. Other policies in the system include: Quality and Continuous Improvement, Finance, Supply Chain, Customers and Strategy, Segment Execution, and Sustainability.

Supplier Declaration

Scope: All suppliers (Level 2 to Level 4 based on risk categorization)

Key content:

• Aligns sustainability principles with supply chain
• Sets requirements for compliance and business ethics, health and safety, human and labor rights, environment, quality management, and corporate social responsibility
• Addresses forced labor, child labor, and collective bargaining
• Suppliers must not engage people against their free will or require deposits/identity papers upon employment
• No employment of children below age 15
• Special precautions for persons under 18
• Follows international legislation including UK Modern Slavery Act

Monitoring: Suppliers reviewed and awarded risk scores; higher-risk suppliers subject to audits; 56 audits carried out on Norwegian supply chain suppliers in 2024

Global Whistleblowing Procedure

Scope: Anyone including external parties

Approval and oversight: Signed off by head of sustainability, compliance and integrity

Key content:

• Establishes process for detecting, preventing and combating corrupt and/or unethical behavior
• Clear procedures for reporting concerns and handling matters
• Zero tolerance for retaliation against anyone who speaks up in good faith
• Anonymous reporting allowed

Public availability: Available at akersolutions.com/whistleblowing and whistleblowing@akersolutions.com

International standards: Complies with Norwegian Working Environment Act, Data Protection Act/GDPR; updated version aligns with EU Whistleblowing Directive (EU) 2019/1937

Monitoring: All notifications received and managed by Compliance and Integrity department; quarterly reporting to Audit Committee; 49 reports recorded in 2024 (0.42 reports per 100 employees)

Sustainability Policy

Part of twelve-policy Management System; covers material sustainability matters.

Corporate Culture

Aker Solutions works to build a culture of trust, compliance, and integrity where:

• Employees are comfortable asking questions, seeking guidance, raising concerns, and reporting suspected violations
• Clear tone from the top through Board of Directors and management commitment
• Controls throughout organization designed to identify and limit effects of Code of Conduct violations
• Employees violating the code face consequences ranging from warning to dismissal

Global Compliance Program

The company operates a risk-based global compliance program with three key elements:

1. Preventive measures: Risk assessments, policies and procedures, training, monitoring
2. Detective measures: Monitoring, audits, reviews, speak up and whistleblowing processes
3. Responding measures: Investigation of concerns, lessons learned, response actions, regular reporting to CEO and Audit Committee

Training components:

• Introduction to business integrity e-learning for new employees (approximately 3,840 completions in 2024)
• Annual mandatory Code of Conduct refresher course
• Targeted training for high-risk roles (approximately 836 employees trained in 2024)
• In-person training by Compliance and Integrity team

Third-party risk management:

• Integrity due diligence on customers, suppliers, joint venture partners, third-party representatives, alliance partners
• Projects and new country entries subject to integrity and country risk assessments
• Business partner qualification and approval procedures

Additional Governance

Enterprise Risk Management: Based on principles in ISO 31000, Project Management Institute, and COSO frameworks; climate-related risk evaluated according to TCFD

Audit Committee role: Supports Board in quality assurance of policies, ensures compliance with laws and Code of Conduct, reviews quarterly and annual reports, oversees Enterprise Risk Management framework

Quarterly reporting: Enterprise Risk Committee reports risks quarterly; portfolio evaluated and approved by EVP Safeguarding, aligned with executive management team, reported to Audit Committee

Prevention and detection of corruption and bribery

Aker Solutions operates a global compliance program designed to prevent, detect and respond to corruption and bribery risks. The company exercises zero tolerance for corruption and bribery as mandated by its Code of Conduct and Business Integrity Policy.

Code of Conduct

• Approval and oversight: Endorsed by the Board of Directors
• Scope: Applies to all employees globally; sets expectations for business partners
• Key content: Constitutes a framework for managing compliance and integrity risks; describes commitments and requirements regarding business practice, personal conduct, and expectations towards business partners; covers policy statements on anti-corruption and anti-bribery; includes specific chapters on gifts and hospitality, conflict of interest, sponsorships and donations, and facilitation payments
• Public availability: Available on the company's intranet
• Monitoring: Annual mandatory Code of Conduct refresher course for all employees; quarterly reporting to the Audit Committee on compliance program design, implementation and effectiveness

Business Integrity Policy

• Approval and oversight: Endorsed by the CEO
• Scope: Applies globally across all business levels in the Aker Solutions organization
• Key content: Supplements the Code of Conduct; sets clear responsibilities and procedures for managing compliance and integrity risks; operationalized through a global compliance program
• Monitoring: Implemented through the global compliance program managed by the Compliance and Integrity function

Whistleblowing Policy

• Key content: Promotes a culture of trust, encouraging employees to ask questions, seek guidance, raise concerns, and report violations; allows anonymous reporting of concerns, incidents, or breaches; fully complies with the Norwegian Working Environment Act
• Scope: Available to all employees; information posters made available in several languages
• Public availability: Whistleblowing channel accessible; ethics@akersolutions.com channel for guidance managed by the Compliance and Integrity team
• International standards: Updated version aligns with the EU Whistleblowing Directive (EU) 2019/1937 (update planned for first quarter of 2025)
• Monitoring: Quarterly reporting to the Audit Committee on whistleblowing cases and independent investigations

Business Conduct Training Policy

• Key content: Clarifies expected business conduct, personal responsibilities, relevant regulations and internal policies, and consequences of breach; includes introduction to business integrity e-learning for new employees, introduction to business integrity as in-person training for high risk roles or locations, annual mandatory Code of Conduct refresher course, and targeted training to high risk roles
• Scope: Applies to all employees; high risk roles identified based on risk profile including personnel with frequent contact with customers, suppliers, public officials/local authorities, or personnel traveling to high risk countries
• Monitoring: Approximately 8,485 own employees completed annual Code of Conduct certification e-learning in 2024

Compliance Program Structure

The global compliance program is managed by the Compliance and Integrity function with independent reporting to the Audit Committee. The program comprises:

• Periodic compliance risk assessments: Integrated part of the Enterprise Risk Management (ERM) process with quarterly review; risks identified include business partners in terms of corruption and integrity, geopolitical situation and sanctions, potential human rights breaches in the supply chain, and data protection breaches
• Adequate policies and procedures: Setting expectations and guidelines to employees
• Regular and systematic training: Including mandatory annual Code of Conduct training
• Monitoring activities: Annual internal controls self-assessment on all locations globally with follow-up and spot checks by the Business Integrity and Compliance team; risk-based internal audits of internal controls in business processes
• Speak up and whistleblowing processes: Established channels for reporting
• Business partner and third party risk management: Processes for managing relationships with suppliers and other partners

Governance: The Audit Committee regularly reviews compliance with the Code of Conduct and supporting compliance documents, receives quarterly reports from the Compliance and Integrity function on program design, implementation and effectiveness, and meets separately with the Head of Compliance and Integrity annually without management present.

Incidents of corruption or bribery

Confirmed incidents

Aker Solutions has not identified any corruption or bribery incidents in the financial year 2024.

Convictions and fines

During the reporting period, there were 0 instances where individuals were convicted for violations of anti-corruption and anti-bribery laws. The total amount in fines imposed for these convictions amounted to NOK 0.

Investigation and speak-up procedures

Aker Solutions has zero tolerance for corruption and bribery and maintains an effective and risk-based anti-corruption compliance program. The company is committed to building a culture of trust where employees are comfortable to ask questions, seek guidance, raise concerns and report suspected violations.

Aker Solutions' whistleblowing channel allows anyone (including externals) to report concerns, incidents, breaches or suspected breaches of the Code of Conduct, other internal policies, or laws and regulations. The channel is maintained by a third-party and allows for anonymous reporting. Whistleblowing notifications can be sent through http://akersolutions.com/whistleblowing or by email to whistleblowing@akersolutions.com.

All notifications are received and managed by the Compliance and Integrity department, which has a mandate from the Board of Directors to investigate suspected compliance and Code of Conduct violations. The company does not tolerate retaliation against anyone who speaks up in good faith.

Aker Solutions has implemented several measures to respond to non-compliance, including adequate investigation of all reported concerns, systematic capture of lessons learned from incidents, consistent implementation of response and improvement actions (including disciplinary actions), and regular reporting to the CEO and the Audit Committee.

In 2024, there were 49 reports recorded through the whistleblowing channel (compared to 35 reports relating to Aker Solutions in 2023). Around half of the received reports in 2024 concerned employee relations and human resources issues, with the remaining cases related to other business integrity topics. The number of cases reported in 2024 were 0.42 reports per 100 employees.

Political influence and lobbying activities

Political engagement approach

The global climate objectives and the need for an energy transition presents countries around the world with some of the largest industrial transformations in modern time. As a company with proven expertise, unique expertise, essential capabilities and capacities as well as effective technical solutions, Aker Solutions strives to contribute in key roles.

In Norway, Aker Solutions is among the larger companies when it comes to overall revenues and value creation, number of domestic employees, use of sub-suppliers and operations in rural regions where jobs are of particular importance. Aker Solutions is also Norway's largest supplier to the national oil and gas industry and a significant supplier also to other energy-related sectors. The oil and gas industry has a vital role in Norway's national finances and is a key foundation for funding of national welfare. Aker Solutions' prominent role in this important industry may in some cases indirectly or directly influence government policies. This can also influence financial opportunities for the company.

Aker Solutions' input to dialogue with policy makers and civil servants focuses on providing facts and information regarding the company's ongoing activities and outlook for future development of the business, including information like potential future employment numbers. In addition, the input will in some cases include the company's view on different technical alternatives of possible relevance to future projects, and the effects of frame conditions such as taxes and financing research and development.

There is also potential positive impact when it comes to Aker Solutions' political engagement, primarily in Norway. Our involvement in the energy sector, which is known for substantial lobbying efforts, may indirectly influence government policies. This can be a potential financial opportunity for the company.

Based on our expertise, we will when relevant share facts, possibilities for development of energy projects, challenges and opportunities with political authorities and civil servants in the nations or locations where we have business focus. We will also openly engage with relevant employer federations or industry associations when that is relevant. Such lobbying activities shall always be in line with international standards and our company policies.

Ethical standards and guidelines

There are established procedures to ensure the company's involvement in these activities is ethical, responsible, and complies with the Code of Conduct.

The responsibility for oversight of these activities sits with the communications department.

Political contributions

Aker Solutions is not engaged in political contributions, nor in funding or support to political parties. In 2024, there were no financial or in-kind political contributions made by the company.

EU Transparency Register

Aker Solutions is not registered in the EU Transparency Register or any equivalent transparency register.

We do not have any members of administrative, management or supervisory bodies that have held positions in public administration in the last two years.

Payment practices

Average time to pay invoices

Our analysis indicates that, on average, Aker Solutions spends 48 days to settle an invoice from the date the invoice was received.

The representative sampling method used to calculate average time of payment is based on the global ERP system which comprise 95 percent of all cost in Aker Solutions. All invoices for the companies using the ERP system are processed through the system and we have calculated number of days by looking at the difference between invoice received date and the date of payment.

Standard contractual payment terms

Aker Solutions' standard payment terms is 60 days which apply to all categories of suppliers. Minor retail transactions without a formal agreement with Aker Solutions will follow the standard terms of the retailer, resulting in an average payment period of less than 60 days.

Payment terms by supplier category (as % of payments in 2024):

• 74 percent of all invoices are related to categorized suppliers and represent 80 percent of payments in 2024
• 39 percent of all payments relate to suppliers of wholesale and retail trade
• 61 percent relate mainly to suppliers of manufacturing goods and transportation services

Note: The company's project-driven nature (with projects lasting up to five years) means payment terms with main suppliers are more favorable for Aker Solutions than terms towards suppliers of bulk products and services. The company does not differentiate between major suppliers or SMEs when processing invoices.

Payment terms for specific contract types:

• Renewables and Field Development contracts: normally 30-45 days according to predefined milestones or monthly billing
• Life Cycle contracts: normally 30 days after time and materials are delivered

Legal proceedings for late payment

As of December 31, 2024, there are no open legal proceedings related to late payments.

Payment monitoring processes

Aker Solutions regularly follows up on accounts payable to ensure timely and accurate payments. Our service provider assists by providing detailed accounts payable reports, including aging analysis and information on approvers. These reports are actively utilized to monitor and minimize late payments effectively. The finance function follows up with the respective approvers of the invoices. We do not distinguish between the size or segment of our vendors, ensuring fair and consistent payment practices across all our supplier relationships.