Akastor ASA: Fourth Quarter Results 2020 Fourth Quarter Highlights Total EBITDA of NOK 57 million Net cash flow from operating activities of NOK 467 million, driven by reduction of net working capital Net interest-bearing debt of NOK 1.4 billion, including NOK 426 million of net bank debt in DDW Offshore (consolidated into Akastor from 4Q) Order backlog of NOK 2.4 billion per end of quarter MHWirth received notification of award of a contract for delivery of a drilling equipment package to Guangzhou Marine Geological Survey (GMGS) Akastor CEO Karl Erik Kjelstad comments: "We are pleased with our fourth quarter financial results which included a strong operational cash flow and solid EBITDA margin in MHWirth, despite continued challenges brought on by the global pandemic. 2020 has been strongly affected by COVID-19 and following turmoil in the oil markets, however our portfolio companies have demonstrated robust business models through the year. We expect the markets to remain challenging over the near future but remain cautiously optimistic that the gradual recovery of the global economy and the oil service sector will increase demand for our portfolio companies' products and services over the next 12 to 18 months."