Akastor (AKAST) investor relations material

Executive summary

• Maintained a solid financial position with a positive net cash position and no drawings on the corporate RCF.

• Dividend of NOK 1.5 per share approved, supported by HMH IPO proceeds and capital return strategy, marking the fourth consecutive quarterly payout.

• Completed the successful IPO of HMH, generating $53 million in cash proceeds and reducing ownership to 36.2%.

• Continued focus on active ownership, value creation, and disciplined capital allocation across the portfolio.

• Stable operations across the fleet, with Aker Wayfarer awarded a new four-year contract with Petrobras.

Financial highlights

• Consolidated revenue and EBITDA for the quarter were NOK 182 million and NOK 123 million, respectively, mainly driven by DDW Offshore's vessel sale.

• Net profit for the period was NOK 89 million.

• Net cash position increased by NOK 132 million in Q1, ending at NOK 219 million, with NOK 286 million in liquidity fund investments.

• Net capital employed at quarter-end was NOK 4.3 billion; equity at NOK 5.3 billion (approx. NOK 19 per share).

• Financial investments contributed NOK 31 million, offset by negative FX effects of NOK 62 million.

Outlook and guidance

• Net cash position expected to improve further in Q2 due to HMH IPO proceeds and vessel sales, partly offset by dividend payments.

• HMH management expects a stronger second half, supported by improved market activity, backlog growth, and improved visibility into 2H 2026.

• Continued commitment to returning excess capital to shareholders following realizations and disciplined capital return.

• Continued deleveraging and strong cash generation expected at NES Fircroft.