Update on financing

Reference is made to Aker BP’s acquisition of Hess Norge in 2017. In relation to this acquisition, the company obtained a USD 1.5 billion bank facility secured by pledge in the shares of Hess Norge AS. The terms of the bank facility stipulated that a settlement of the tax losses in Hess Norge would trigger a mandatory repayment of the facility. The company has now been informed by Norwegian tax authorities that such settlement will take place by the end of November 2018. The bank facility will subsequently be repaid in full.