Registration Document

Aker Solutions ASA – 13.11 2012

Aker Solutions ASA

Oslo, 13.11.2012

Prepared according to Commission Regulation (EC) No 809/2004 - Annex IX

Aker Solutions ASA – 13.11 2012

Registration Document Important notice

The Registration Document is based on sources such as annual reports and publicly available information. This Registration Document has been prepared in cooperation with the Arranger. This is subject to the general business terms of the Arranger. Confidentiality rules and internal rules restricting the exchange of information between different parts of the Arranger may prevent employees of the Arranger who are preparing this presentation from utilizing or being aware of information available to the Arranger and/or affiliated companies and which may be relevant to the recipients' decisions.

The Arranger and/or affiliated companies and/or officers, directors and employees may be a market maker or hold a position in any instrument or related instrument discussed in this Registration Document, and may perform or seek to perform financial advisory or banking services related to such instruments. The Arranger's corporate finance department may act as manager or co-manager for this Issuer in private and/or public placement and/or resale not publicly available or commonly known.

Copies of this presentation are not being mailed or otherwise distributed or sent in or into or made available in the United States other than on the Issuer’s web page. Persons receiving this document (including custodians, nominees and trustees) must not distribute or send such documents or any related documents in or into the United States.

Other than in compliance with applicable United States securities laws, no solicitations are being made or will be made, directly or indirectly, in the United States. Securities will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The distribution of the Registration Document may be limited by law also in other jurisdictions, for example in Canada, Japan and in the United Kingdom. Verification and approval of the Registration Document by Finanstilsynet (The Financial Supervisory, Authority of Norway) implies that the Registration Document may be used in any EEA country. No other measures have been taken to obtain authorisation to distribute the Registration Document in any jurisdiction where such action is required.

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Registration Document Table of Contents:

1. Risk factors ...... 4 2. Persons responsible ...... 6 3. Definitions ...... 7 4. Third part information and forward looking statements ...... 8 5. Statutory auditors ...... 9 6. Information about the issuer ...... 10 7. Business overview ...... 12 8. Market trends and prospects ...... 17 9. Administrative, management and supervisory bodies ...... 18 10. Major shareholders ...... 24 11. Financial information concerning the issuer's assets and liabilities, financial position and profits and losses ...... 25 12. Documents on display ...... 26 13. Cross reference list: ...... 27

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Registration Document

1. Risk factors

Operational risk Operational risk is the ability to deliver existing contracts at the agreed time, quality, functionality and cost. Delivering projects and equipment in accordance with the contract terms and the anticipated cost framework represents a substantial risk element, which will be the most significant factor affecting Aker Solutions’ financial performance. Results also depend on costs, both Aker Solutions’ own and those charged by suppliers, and on interest expenses, exchange rates and customers’ ability to pay.

Aker Solutions also frequently engages in mergers & acquisitions and other transactions that could expose the company to financial and other non-operational risks such as warranty claims and price-adjustment mechanisms.

Financial risks The Group is exposed to a variety of financial risks: currency risk, interest rate risk, price risk, credit risk, liquidity risk and capital risk.

Currency risk The Group operates internationally and is exposed to currency risk on commercial transactions, recognised assets and liabilities and net investments in foreign operations. Commercial transactions and recognised assets and liabilities are subject to currency risk when payments are denominated in a currency other than the respective functional currency of the group company. The Group’s exposure to currency risk is primarily to USD, EUR and GBP but also several other currencies.

Interest rate risk The Group’s interest rate risk arises from non-current borrowings. Borrowings issued at variable rates expose the Group to cash flow interest rate risk. Borrowings issued at fixed rates expose the Group to fair value interest rate risk.

Price risk The Group is exposed to fluctuations in market prices both in the investment portfolio and in the operating businesses related to individual contracts.

Credit risk Credit risk is the risk of financial losses to the Group if customer or counterparty to financial investments/instruments fails to meet its contractual obligations, and arises principally from investment securities and receivables.

Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities.

Capital risk The Group’s objective for managing capital is to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders while maintaining an optimal capital structure to reduce the cost of capital.

Uncertainty of future contract awards The Group’s future performance depends, among other matters, on whether and when it will receive certain new contract awards. Contract awards are often affected by events outside the control of the Group, such as price fluctuations in oil and gas, other commodities (such as metals and chemicals, and general economic conditions affecting the Group’s customers. Because the timing of project awards, as well as timing of project execution, is often uncertain, effective utilisation of the work force is a critical factor in achieving satisfactory profit margins. As a consequence of the size of the Group’s oil and gas related activities, the Group is exposed to the price of oil and natural gas and the performance and profitability of oil and gas companies. Cyclical declines in the prices of oil and natural gas, and the continued consolidation of the oil and gas sector, may adversely affect the operations of the oil and gas business area and, therefore, the profitability of the Group.

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Registration Document Regulatory and environmental matters The Group’s operations are subject to numerous national and supra-national, environmental, health and safety laws, regulations, treaties and conventions. The amendment or modification of existing regulations or the adoption of new regulations curtailing or further regulating the Group’s business could have an effect on the Group’s operating results or financial condition. The Company cannot predict the extent to which future earnings may be affected by compliance with such new regulations.

Harm to persons and property The Group’s operations are subject to the usual hazards inherent in providing engineering and construction services, such as the risk of equipment failure, work accidents, fire or explosion. These hazards can cause personal injury and loss of life, business interruptions, property and equipment damage, pollution and environmental damage. The Group may be subject to claims as a result of these hazards, and may also be subject to claims resulting from the subsequent operations of facilities it has delivered.

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2. Persons responsible

Aker Solutions ASA confirms that, having taken all reasonable care to ensure that such is the case, the information contained in the registration document is, to the best of their knowledge, in accordance with the facts and contains no omission likely to affect its import.

Oslo, 13.11.2012

Aker Solutions ASA

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Registration Document 3. Definitions

AIM - Asset Integrity Management

DEH - Direct Electric Heating

DRT - Drilling Technologies

ENG - Engineering

EP - Engineering and Procurement

EPC - Engineering, Procurement and Construction

EPcma - Engineering, Procurement and Construction management assistance

FEED - Front-end engineering and design

IPU - Integrated Production Umbilicals

LPP - Low pressure production

MLS - Mooring and loading systems

MMO - Maintenance modifications and operations

NOK - Norwegian Kroner

OMA - Oilfield Services and Marine Assets

PRS - Process Systems

SUB - Subsea

The Company / The Issuer - Aker Solutions ASA

The Group / Aker Solutions - The Company and its subsidiaries

UMB - Umbilicals

WIS - Well Intervention Services

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Registration Document 4. Third part information and forward looking statements

If not otherwise indicated, Aker Solutions is the source of information in this Registration Document. Information which has been sourced from a third party has been accurately reproduced. As far as the Company is aware and able to ascertain from information published by such third parties, no facts have been omitted which would render the reproduced information inaccurate or misleading.

The Registration Document is based on sources such as annual reports and publicly available information and forward looking information based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for the Issuer's (including subsidiaries and affiliates) lines of business. Important factors that could cause actual results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be major markets for the Issuer's businesses, market acceptance of new products and services, changes in governmental regulations, interest rates, fluctuations in currency exchange rates and such other factors as may be discussed from time to time in the Registration Document. Although it is believed that the expectations are based upon reasonable assumptions, the Issuer can give no assurance that those expectations will be achieved or that the actual results will be as set out in the presentation.

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Registration Document

5. Statutory auditors

The Company auditor for the period covered by the historical financial information in this Registration Document has been KPMG AS.

KPMG AS contact information: Sørkedalsveien 6, 0369 Oslo, Norway.

KPMG AS is member of The Norwegian Institute of Public Accountants.

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6. Information about the issuer

Aker Solutions ASA is a Norwegian Public Limited Liability Company incorporated on 29 January 2004 and regulated by the Norwegian Companies Act and supplementing Norwegian laws and regulations. The Company No is 986 529 551 and its registered business address Snarøyveien 36, 1364 Fornebu, Norway, Phone: +47 67 51 30 00. Website: www.akersolutions.com.

Aker Solutions ASA is the Parent Company in the Group, which consists of a number of separate legal entities. Aker Solutions vision is to be the preferred partner for solutions in the oil and gas industry through living our values.

Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The Company employs approximately 26 000 people in more than 30 countries.

The Company receives revenues in form of dividends and group contribution from its subsidiaries, and is therefore dependent on its subsidiaries.

As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Kværner Holding AS, Aker ASA takes an active role in the development of Aker Solutions.

Corporate structure

For a full overview of the Company’s around 150 subsidiaries, se Annual Report 2011 – note 34 Group Companies.

HISTORY Aker Solutions' history can be traced back to 1841, when Aker established a small mechanical workshop on the banks of the Aker river in Oslo, Norway. Shortly after, in 1853, Kvaerner Brug was founded.

Initially the main activities included shipbuilding, manufacturing components for machinery and equipment for clients in the iron and non-ferrous metals industries and shipping. Mechanical and marine engineering soon became the core of our business, and in the heydays of the steam engine, we supplied a wide range of companies, engaged in timber, wood and pulp, coal, hydropower, fisheries, and shipping.

In the 1960s, the company started producing vessels for oil exploration and production, after oil companies discovered oil and gas in the North Sea. Oil products and services gradually became the company’s dominant activity.

In 2002 Aker Maritime took over Kvaerner, and the two companies joined forces to create Aker Kvaerner. In 2008, the Company changed name to Aker Solutions. In 2011, the process & construction business was sold, and the same year, the EPC contracting business was separated

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Aker Solutions ASA – 13.11 2012

Registration Document from Aker Solutions and listed on the Oslo Stock Exchange as Kværner ASA. Today Aker Solutions is a provider of oilfield products, systems and services.

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Registration Document

7. Business overview

Aker Solutions has organised its business in three main reporting segments: Engineering Solutions, Product Solutions and Field-Life Solutions.

Engineering Solutions Aker Solutions provides concept and front-end studies to oil companies around the world. Its concepts, competence and experience are particularly relevant for complex oil and gas field developments in harsh environment and for deep waters where floating production units are typically required.

Product Solutions Aker Solutions delivers oilfield products for the entire upstream value chain, from reservoir through processing. The segment includes the following business areas: subsea, drilling, umbilicals, processing technology and mooring and loading equipment. Within each business area, Aker Solutions delivers individual products or provides integrated systems with high engineering contents. Life-cycle services is also available as part of the total offering.

Field Life Solutions Aker Solutions offers a wide range of services, which has the ultimate objective to increase oil and gas recovery from existing fields and extend the operating life of field assets. The Field-Life Solutions segment consists of three business areas: Maintenance, Modifications and Operations, Well Intervention Services and Oilfield Services and Marine Assets.

The three segments are further divided into nine business areas.

ENGINEERING SOLUTIONS

Engineering (1)

Aker Solutions provides engineering services required for the development of oil and gas exploration and production facilities around the world. The Company delivers complete field development solutions and undertakes all activities required to provide the facilities needed for oil and gas exploration, production and processing.

Front-End Products and services range from feasibility studies and field planning, through concept screening and selection, concept definition and project execution strategy, to detail engineering, procurement and construction management assistance. Aker Solutions also provide advisory studies, third party verification, technology development and license packages.

FEED and Detail Engineering Aker Solutions provide services such as front-end engineering and design (FEED) studies and has a strong track record from engineering and procurement (EP) deliveries and engineering, procurement and construction management assistance (EPcma) deliveries to customers such as EPC contractors, yards and oil companies.

PRODUCT SOLUTIONS

Drilling technologies (2)

Aker Solutions' drilling technologies division delivers drilling technologies, systems and life cycle services.

They have 40 years of extensive experience from offshore drilling units and have delivered a number of complete drilling rig packages and expanded their product portfolio significantly through acquisitions and increased focus on technologies and innovations.

Aker Solutions offers support through the entire process, including engineering, manufacturing, installation and commissioning. In addition, they provide drilling lifecycle services to their

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Registration Document customers, including spare parts, technical support, overhaul/modifications and professional rig training.

Aker Solutions provides complete drilling equipment packages and a broad range of drilling equipment:

 BOP handling equipment  Compensators and tensioners  Drilling control and monitoring systems  Drilling fluid management  Drilling risers  Hoisting systems  Hydraulic power units  Mud pumps  Pipe handling equipment  Top drives

Mooring and loading systems (3)

Aker Solutions is a global supplier of marine and offshore products and services, and is recognised worldwide in the design, engineering and supply of innovative Pusnes deck machinery™ and Pusnes mooring and loading systems™ for marine and offshore applications. The portfolio of products and services includes:  Deck machinery  Offshore mooring systems  Offshore loading systems  Steering gear  Loading arms  Lifecycle services

Subsea (4)

Aker Solutions provides complete subsea production systems, backed by an extensive portfolio of additional products, such as intervention and work-over systems. Aker Solutions has decades of experience in subsea tree technology - since the 1950s, the Company has provided customers with approximately 700 trees. The Company engineers, develops, qualifies, manufactures and delivers subsea technology and systems to the world markets.

The portfolio includes:  Manifolds and structures  Power, processing and boosting  Control systems  Subsea trees (Horizontal, Vertical, High pressure high temperature solutions)  Tie-in connection systems

Surface trees and wellheads Aker Solutions' is a global supplier of surface wellheads and trees, providing engineering, manufacturing, installation and life-of-field support services to the oil and gas industry.

The Company offer a complete range of surface wellheads, trees gate valves, actuators, casing heads, hangers and spools, tubing hangers, spools and adaptors, bushing and annulus seal, tees and crosses, tree caps and other miscellaneous equipment and tools required for surface well completions.

Geo services Aker Solutions' geo services are composed of a dedicated team of 70 geologists, geophysicists and reservoir engineers. Their main fields of activities are: Geological and geophysical interpretation, petrophysics, reservoir modelling and simulation, production technology and operation, and wellsite geology.

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Registration Document Umbilicals (5)

Aker Solutions is a supplier of umbilicals and subsea power cable systems for the oil and gas sector.

Aker Solutions provides cost effective and technically advanced subsea umbilical and power cable systems and tubular products to customers worldwide from manufacturing facilities in Moss, Norway and Mobile, Alabama in the US.

The range of technologies includes:  Steel Tube Umbilicals Systems: from basic direct-hydraulic and electro-hydraulic umbilicals to large integrated service umbilicals (Static and Dynamic applications)  Hydraulic Flying Leads (Steel Tubes)  Power Umbilicals (Medium/Low Voltage)  Integrated Production Umbilicals (IPU)  Flowline Heating Systems; Direct Electric Heating (DEH)  HV Subsea Cables  Composite Technology (Rods and Tubulars)  Special Risers (Top Tension Risers)

Process Systems (6)

Aker Solutions supplies process equipment for the treatment of oil, gas, produced water and solids for the upstream oil and gas industry, offshore as well as onshore. The product range covers all relevant process stages; from the moment the stream of oil, gas and water from the reservoir enters the installation to the end product.

The main product lines are mostly based on own proprietary/novel technology within crude and heavy oil treatment, gas conditioning, MEG reclamation and regeneration, sulphate removal, VOC recovery and sand management systems.

FIELD LIFE SOLUTIONS

Maintenance, modifications and operations (MMO) (7)

Maintenance, modifications and operations represent a growing market for Aker Solutions as existing offshore and land-based installations mature. Increased Oil Recovery/Enhanced Oil Recovery, tie ins and other modification activities like life extension of existing fields and facilities are key offerings from Aker Solutions. Projects like injection solutions, low pressure production (LPP), drilling upgrades, fast track tie ins, swivel replacements and safety/enviroment driven projects are all examples of successful EPCI deliveries.

Front-end studies Aker Solutions help to define the scope, price and technical consequences of modification or maintenance projects, and bring their clients through all decision gates until feasibility is confirmed or the concept defined.

Asset Integrity Management Aker Solutions is a supplier of integrity management services providing maintenance engineering, integrity management and advanced inspection and monitoring solutions, spanning from early design throughout the lifetime of an asset.

AIM offers include:

 Maintenance and inspection engineering  Technical integrity analysis and studies  Structural integrity management  Subsea integrity management  Advanced inspection and monitoring technology  In-service inspection and corrosion management  Data management, systems and tools  Service development and improvement projects

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Registration Document Decommissioning Aker Solutions is a provider of total removal and decommissioning services and can offer tailor- made solution for each customer.

Aker Solutions scope of work ranges from preparatory engineering work to the removal of subsea and topside equipment, transport to shore to demolition and safe disposal of hazardous material.

Well intervention services (8)

Aker Solutions is a provider of well intervention services with more than 30 years of experience. They continuously strive towards world class performance, and to be the preferred partner in the oil service business.

Our core well intervention operations

 Slickline and wireline services  Wireline tractor and applications  Cased hole logging  Well Intervention Academy  Riserless light well intervention

Oilfield services and marine assets (9)

Aker Solutions’ ambition is to service the deepwater and ultra-deepwater subsea market in water depths down to 3 000 metres. Over the past couple of years they have developed the technology to tackle well interventions at these water depths

Aker Solutions’ subsea well intervention expertise incorporates the Company’s subsea well control technology, including intervention work-over systems, which is essential for safely entering a well through a subsea tree and disconnecting quickly in the event of an emergency. In addition, Aker Solutions also performs downhole maintenance, notably wirelining and coiled-tubing operations through the Company’s well service business. The work is conducted with a group vessels, including Skandi Aker, Aker Wayfarer and Skandi Santos.

Aker Solutions’ vessels can perform deepwater intervention services that oil companies previously needed drilling rigs to conduct.

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Registration Document Order intake and backlog Order intake in the second quarter was NOK 23.0 billion compared to NOK 14.3 billion in the second quarter of 2011. At the end of the second quarter, the order backlog was NOK 54.1 billion, an increase of NOK 11.2 billion or 26.2 per cent from the first quarter of 2012.

Order intake represents both new contracts and growth in existing contracts. The order backlog contains values of signed contracts and estimated values for the firm contract periods concerning frame agreements and service contracts. Estimated values for option periods are not included in the order backlog. A list of all major contracts announced in the second quarter is included below.

Scope Customer Value Unit Yantai, CIMC Raffles, Drilling package for new jackup rig Undisclosed DRT China 8-year contract for specially designed Category- Statoil, Norway NOK 11 bn OMA B rig EPCM at Ormen Lange/Nyhamna Kværner, Norway NOK 850 – 950 mill MMO/ENG

Umbilical contract to the Svalin field Subsea 7, Norway Undisclosed UMB Subsea production system on Siakap North Murphy Sabah Oil, Undisclosed SUB including 13 subsea trees Malaysia EPC on topside for Edvard Grieg platform Kværner, Norway NOK 1.5 bn MMO/ENG

Study contracts on Skrugard and Havis Statoil, Norway Undisclosed ENG Island Offshore, Well intervention services in the North Sea NOK 400 – 500 mill WIS Norway Frame agreement for engineering, ExxonMobil, Norway Undisclosed MMO procurement, construction and installation Umbilicals to Ichthys McDermott, Australia NOK 440 mill UMB

Deepwater drilling riser system Atwood Oceanics, USA Undisclosed DRT

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8. Market trends and prospects

Aker Solutions experiences strong demands for its services in most regions of the world, and tendering activity is high.

The increasing number of complex and deepwater fields is a strong trend in the global offshore industry. This creates a strong international demand for Aker Solutions’ conceptual engineering and front-end design capabilities in ENG.

The subsea market, which is a key driver for SUB and UMB, is returning to strong growth, and Aker Solutions is tendering for major opportunities in the North Sea, Brazil, Asia Pacific and West Africa.

At present, 93 deepwater drilling vessels are on order world-wide. Several industry analysts expect some 20- 30 new-builds to be ordered yearly until 2020. These represent important opportunities for DRT and MLS. Bidding activity is currently high for rigs for deployment in Brazil. There is also good demand in other regions and a high tender activity with Asian yards.

Also typical for deepwater fields are floating production units. Order backlog for floating production systems is at a historical high of 74 units, and approximately 230 are in final design, planning or study phase. The floating production segment is a key driver for ENG, PRS and MLS.

In the North Sea, new discoveries give increased confidence, and the capex and opex markets combined are expected to grow over 12 per cent annually to 2015. MMO sees a healthy demand for its main offerings going forward. The WIS and OMA businesses also see new market opportunities opening up in West Africa, Brazil and onshore in the Middle East.

The Brazilian markets are moving from heavy oil, sandstone and post-salt towards light oil and carbonated pre-salt. The market is characterised by local content requirements and strong local players. In North America, activity is picking up and the developments are related to increasingly deeper waters. West Africa, dominated by Nigeria and Angola, is characterised by increasing local content requirements and deeper waters. The markets in Asia Pacific are gas focused and the expected growth in spending is high, 21 per cent per annum until 2015.

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9. Administrative, management and supervisory bodies

BOARD OF DIRECTORS AKER SOLUTIONS ASA:

Øyvind Eriksen - Executive Chairman Øyvind Eriksen is President & CEO of Aker ASA, which is the main shareholder of Aker Solutions with a 40.1 per cent shareholding via Aker Kværner Holding AS. Eriksen has a law degree from the University of Oslo. In 1990 he joined the Norwegian law firm BA-HR in which he became a partner in 1996. He worked for the firm’s London office from 2001 to 2003, when he returned to Oslo as a board member and chairman of the firm. At BA-HR, Mr Eriksen worked closely with Aker and Aker‘s main shareholder, Kjell Inge Røkke. Mr Eriksen is chairman of the board of Aker Kværner Holding AS, a board member of Reitangruppen AS, The Resource Group TRG AS, TRG Holding AS and other companies. While Mr Eriksen holds no shares or stock options in Aker Solutions directly, he has an ownership interest through his holding of 71 000 shares in Aker ASA and a further 0.20 per cent of the B stock in Aker ASA’s main shareholder TRG Holding AS. Mr Eriksen is a Norwegian citizen. He has been elected for the period 2011-2013.

Mikael Lilius - Deputy Chairman Mikael Lilius was President and CEO of Fortum Corporation from 2000 to May 2009. From 1991 to 1998 Mr Lilius was chief executive of Sweden’s Incentive AB and from 1998 to 2000 in Gambro AB. Mr Lilius is chairman of the boards of the Finnish company Huhtamäki Oyj and the Swedish company Ambea AB. He also serves a member of the board of Wärtsilä Oyj Abp and Evli Pankki Oyj. He is also chairman of the board of East Office of Finnish Industries. Mr Lilius is a graduate of the Swedish School of Economics and Business Administration in Helsinki. As of 8 March 2012, he holds no shares in the company and has no stock options. Mr Lilius is a Finnish citizen. He has been elected for the period 2011-2013.

Lone Fønss Schrøder - Director Lone Fønss Schrøder has a law degree from the University of Copenhagen and a Master of Economics from Copenhagen business school. Ms Fønss Schrøder has broad international experience acquired during 21 years in senior management, including board positions at A.P. Møller-Maersk A/S. She is among others chairperson for the audit committee at Volvo, deputy chairman of the Board of Aker ASA, a non-executive director of Volvo PV in Sweden and NKT A/S in Denmark, as well as non-executive director and member of the audit committee at Vattenfall AB and Svenska Handelsbanken AB in Sweden. As of 8 March 2012, she holds no shares in the company and has no stock options. Ms Fønss Schrøder is a Danish citizen. She has been elected for the period 2011-2013.

Anne Drinkwater - Director Anne Drinkwater retired from BP in 2012, where she held a number of leadership positions including Group Vice President for North Africa, Azerbaijan, the Middle East and Asia Pacific, President and CEO of BP Canada, President of BP Indonesia and Managing Director of BP Norway. She holds a B Sc. in applied mathematics and statistics from Brunel University, London. As of 8 March 2012, she holds no shares in the company and has no stock options. Ms Anne Drinkwater is a British citizen. She has been elected for the period 2011-2013.

Kjell Inge Røkke - Director Entrepreneur and industrialist Kjell Inge Røkke, Aker ASA’s main owner, has been a driving force in the development of Aker since the 1990s. Mr Røkke launched his business career with the purchase of a 69-foot trawler in the United States in 1982, and gradually built a leading worldwide fisheries business, harvesting white fish and processing it at sea. In 1996, Mr Røkke purchased enough Aker shares to become Aker’s largest shareholder and owns today 67.8% of Aker ASA through The Resource Group TRG AS, which he owns together with his wife. Mr Røkke is chairman of the board of Aker ASA, Kværner ASA and Aker BioMarine ASA and deputy board member of Det norske Oljeselskap ASA. While Mr Røkke holds no shares or stock options directly in Aker Solutions, he has an indirect ownership interest in the company through his investment company The Resource Group TRG AS and subsidiaries, which he co-owns with his wife, and which holds approximately 67 per cent of the shares in Aker ASA, Aker Solutions’ main owner. Mr Røkke is a Norwegian citizen. He has been elected for the period 2011-2013.

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Registration Document Nicoletta Giadrossi - Director Nicoletta Giadrossi is employed by Aker ASA to work on the company's industrial portfolio, with particular focus on Aker Solutions. She was previously VP&GM for Europe, Middle East and Africa in Dresser-Rand. She has a BA in Mathematics and Economics from Yale University and a MBA from Harvard Business School. Ms Giadrossi also has a background from the private equity industry, as well as having held a number of leadership positions in the GE corporation, among them GM in Oil&Gas Petrochemicals Division and COO in GE Equipment Management, Europe. Nicoletta Giadrossi holds no shares in Aker Solutions, is 45 years old, and is an Italian citizen. She has been elected for the period 2012-2013.

Stuart Ferguson - Director Stuart Ferguson is consultant with Flux Oilfield Technology Ltd. which assists various companies within the oil service industry. He is also a member of the board of a number of companies, including Borets International Ltd., I-Pulse Inc., and Zi-Lift AS. Mr. Ferguson has a B.Sc. in Chemical Engineering from University of Birmingham. Prior to being appointed consultant, he has been, inter alia, Vice President of Reservoir Optimisation in Weatherford International Inc. and Chief Technology Officer and Senior Vice President in Weatherford International Ltd. Stuart Ferguson holds no shares in Aker Solutions, is 45 years old, and is a UK citizen. He has been elected for the period 2012-2013.

Sarah Ryan - Director Sarah Ryan is Investment Manager in Earnest Partners. She holds a B.Sc. in Geology from the University of Melbourne, and a B.Sc. (Hons) in Geophysics and a PhD in Petroleum Geology and Geophysics from the University of Adelaide. Prior to her position in Earnest Partners, she was the Chief Operating Officer for MTEM Ltd., and held various technical, operational and management positions in Schlumberger. As of 8 March 2012, she holds no shares in the company and has no stock options. Dr. Sarah Ryan is an Australian citizen. She has been elected for the period 2012- 2013.

Atle Teigland - Director Atle Teigland was elected by the employees of Aker Solutions to the board of directors in October 2004. He also served on the boards of Aker and Aker RGI for several years. Mr Teigland is a group union representative for Aker Solutions on a full-time basis and has been employed by Aker Elektro AS since 1978. Mr Teigland is a certified electrician. As of 8 March 2012, he holds 2 358 shares in the company, and has no stock options. Mr Teigland is a Norwegian citizen. He has been elected for the period 2011-2013.

Åsmund Knutsen - Director Åsmund Knutsen was elected by the employees of Aker Solutions to the board of directors in October 2004. Since 1991 he has held various positions in Aker Engineering & Technology AS and is now a group union representative for white-collar employees on a full-time basis. Mr Knutsen holds an MSc in hydrodynamics from Oslo University. As of 8 March 2012, he holds 3 663 shares in the company, and has no stock options. Mr Knutsen is a Norwegian citizen. He has been elected for the period 2011-2013.

Arild Håvik - Director Arild Håvik was elected by the employees of Aker Solutions to the board of directors in March 2009. Mr Håvik has been employed by Aker Solutions since 1990 and has been a local union representative for Aker Offshore Partner AS on a full-time basis for the last four years. Mr Håvik is a scaffolder and sheet metal worker and holds a certificate of apprenticeship in the two disciplines. As of 8 March 2012, he holds 758 shares in the company, and has no stock options. Mr Håvik is a Norwegian citizen. He has been elected for the period 2011-2013.

Hilde Karlsen - Director Hilde Karlsen was elected by the employees of Aker Solutions to the board of directors in March 2011. Since 1992 she has held various positions in Aker Solutions, and is now task leader in Aker Offshore Partner. Ms Karlsen was the employees representative of the Kværner Oil and Gas Board from 1993-2003. Ms Karlsen is a civil engineer and holds a degree in engineering from Narvik University College. As of 8 March 2012, she holds 354 shares in the company, and has no stock options. Ms Karlsen is a Norwegian citizen. She has been elected for the period 2011-2013.

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Registration Document LEADERSHIP TEAM - AKER SOLUTIONS ASA:

Executive chairman and president

Øyvind Eriksen - Executive chairman Øyvind Eriksen is President & CEO of Aker ASA. In his capacity as Executive Chairman in Aker Solutions ASA he took on the CEO role in June 2010 until a new President and CEO is appointed. Mr Eriksen has a law degree from the University of Oslo. And in 1990 he joined the Norwegian law firm BA-HR. In 1996 he became a partner, and in 2003 a board member and chairman. At BA-HR, Mr Eriksen worked closely with Aker and Aker‘s main shareholder, Kjell Inge Røkke. Mr Eriksen is chairman of the board of Aker Holding AS and a board member of Reitangruppen AS, Aker Clean Carbon AS, The Resource Group TRG AS, TRG Holding AS and other companies. As of 8 March 2012, he holds no shares in the company and has no stock options. Mr Eriksen is a Norwegian citizen.

Leif Borge - President & Chief Financial Officer Leif Borge joined Aker Solutions in 2008. Previously he has been CFO of Aker Yards ASA since 2002, after serving as CFO of Zenitel NV, Stento ASA and Vitana, a subsidiary of Rieber & Søn ASA in the Czech Republic. Mr Borge is a graduate of the Pacific Lutheran University in Washington State. As of 8 March 2012, he holds, through a privately owned company, 20 758 shares in the company, and has no stock options. Mr Borge is a Norwegian citizen.

Business areas

Alan Brunnen - Head of Subsea Alan Brunnen joined Aker Solutions in August 2005, he moved across into Subsea in November 2006. Mr Brunnen has recently been appointed EVP of Subsea and he has been the Managing Director of Subsea in Aberdeen since June 2009. Educated at Aberdeen University and London Business School, Mr Brunnen has over 30 years experience in the oil and gas industry. Prior to his career within Aker Solutions, Mr Brunnen held various managing director positions before becoming the Chief Operating Officer at Stolt Offshore, a leading offshore installation contractor. As of 8 March 2012, he holds no shares in the company, and has no stock options. Mr Brunnen is a British citizen.

Leif Haukom - Head of Mooring and Loading Systems Leif Haukom joined Aker Solutions in 1981 and has 30 years of experience from the offshore industry. Mr Haukom has held a number of various positions within technical and project/company management. Mr Haukom has acted as company president since 1997, and managed Aker Pusnes the last 8 years. Mr Haukom is appointed Head of Mooring and Loading systems from March 2011. Mr Haukom holds a BSc in mechanical engineering from the University of Agder, with additional training in economics and management skills. As of 8 March 2012, he holds 758 shares in the company and has no stock options. Mr Haukom is a Norwegian citizen.

Thor Arne Håverstad - Head of Drilling Technologies Thor Arne Håverstad joined Aker Solutions in 1989. He has close to thirty years experience from the oil and gas industry. Mr Håverstad was appointed EVP in January 2011. From 2009-2010 he was president of Aker Solutions’ drilling business in Kristiansand and he has also held a range of technical and managerial positions within the company. Prior to this, Mr Håverstad held various positions within project and engineering management, technical safety and advisory work for the offshore industry as well as seven years of research for SINTEF, Norway. Mr Håverstad holds a PhD from the Norwegian University of Science and Technology. As of 8 March 2012, he holds 6 094 shares in the company and has no stock options. Mr Håverstad is a Norwegian citizen.

Karl Erik Kjelstad - Head of Oilfield Services & Marine Assets Karl Erik Kjelstad joined Aker Solutions as EVP in July 2009 from the position of Senior Partner & President, Maritime Technologies at Aker ASA. Mr Kjelstad has been with the Aker group since 1998 and was President & CEO of Aker Yards ASA from January 2003 - June 2007. Prior to joining Aker, Mr Kjelstad was senior consultant at PA Consulting Group and from 1992-1996 held various management positions in the TTS Group. Mr Kjelstad holds a MSc in marine engineering from the Norwegian University of Science and Technology. As of 8 March 2012, Mr Kjelstad holds, through a privately owned company, 2 500 shares in the company and has no stock options. Mr Kjelstad is a Norwegian citizen.

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Registration Document Valborg Lundegaard - Head of Engineering Valborg Lundegaard was appointed Head of the Engineering business area in February 2011. Ms Lundegaard has more than 20 years experience from the oil and gas industry and has held a number of key positions in Aker Solutions, including corporate and project management. From 2008 Ms Lundegaard was president of Aker Engineering and Technology. Ms Lundegaard holds a degree in chemical engineering from the Norwegian University of Science and Technology. As of 8 March 2012, she holds no shares in the company and has no stock options. Ms Lundegaard is a Norwegian citizen.

David Merle - Head of Process Systems David Merle joined Aker Solutions in May 2012, as head of the Process Systems business. He has 13 years of experience in the oil and gas industry both on the operator and equipment/service sides and has held several leadership positions in Europe, North and South America, the Middle East and Africa. Mr Merle holds an MBA from Harvard Business School, an MSc in Civil engineering from the Ecole des Ponts et Chaussees in Paris, and is a graduate of the INSEAD executive programme in Singapore. As of 8 March 2012, he holds no shares in the company and does not own any stock options. Mr Merle is a French citizen.

Wolfgang Puennel - Head of Well Intervention Services Wolfgang Puennel was appointed Head of Well Services business area, comprising of the operating entities Aker Geo, Aker Well Services and Aker Qserv, in February 2011. Mr Puennel has more than 25 years’ experience in the upstream oil and gas industry. Mr Puennel has held a range of senior management positions in oilfield service and oil companies including Weatherford and Maurel & Prom. Mr Puennel holds a MSc in petroleum engineering and a BSc in mining engineering from the Technical University of Clausthal, Germany. As of 8 March 2012, he holds no shares in the company and has no stock options. Mr Puennel is a German citizen.

Tove Røskaft - Head of Umbilicals Tove Røskaft was appointed as EVP of the Umbilicals business area in September 2011. Ms Røskaft has been with Aker Solutions for 15 years within umbilicals, heading it up since 2009. Ms Røskaft holds a MSc in marine hyrdo dynamics from the Norwegian University of Science and Technology. As of 8 March 2012, she holds no shares in the company and has no stock options. Ms Røskaft is a Norwegian citizen.

Tore Sjursen - Head of Maintenance, Modifications and Operations Tore Sjursen was appointed EVP of the MMO business area in October 2010. Mr Sjursen has been with Aker Solutions for 24 years in different positions in field development and MMO. From 2009- 2010 Mr Sjursen was head of Aker Solutions Energy Development and Services (ED&S) International in Australia. Mr Sjursen holds a MSc in mechanical engineering from Norwegian University of Science and Technology and a MSc in management from Boston University. As of 8 March 2012, he holds 252 shares in the company and has no stock options. Mr Sjursen is a Norwegian citizen.

Corporate centre

Niels Didrich Buch - Chief of Staff Niels Didrich Buch joined Aker Solutions in 1999 and was appointed Chief of Staff & EVP in 2008. From 2005 Mr Buch was head of corporate business development in Aker Solutions and previously he held various other positions in the company, in corporate legal. Before this Mr Buch worked ten years with the Norwegian Foreign Service, including six of them abroad in Asia and Europe. Mr Buch holds a law degree from the University of Oslo. As of 8 March 2012, he holds 758 shares in the company and has no stock options. Mr Buch is a Norwegian citizen.

Åsmund Bøe - Chief Technology Officer Åsmund Bøe was appointed Chief Technology Officer & EVP in June 2010. Mr Bøe is responsible for the overall corporate technology portfolio of Aker Solutions. Before joining Aker Solutions, Mr Bøe worked 15 years for Schlumberger on international assignments in varied senior positions. Mr Bøe brings with him experience from upstream oil & gas operations, personnel and strategic business development. Mr Bøe holds a BSc (Hons – first class) in offshore mechanical engineering from the Herriot-Watt University, UK. As of 8 March 2012, he holds no shares in the company and has no stock options. Mr Bøe is a Norwegian citizen.

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Aker Solutions ASA – 13.11 2012

Registration Document Per Harald Kongelf - Chief Operating Officer Per Harald Kongelf was appointed EVP of the Energy Development & Services business area in October 2010. Mr Kongelf has 25 years’ experience in the oil and gas industry. Mr Kongelf was previously EVP of the Products & Technologies business area and president of Aker Solutions’ process systems business unit. Before that Mr Kongelf worked as an investment manager in the Statkraft Group and in Aker Solutions. Mr Kongelf holds an MSc from the Norwegian University of Science and Technology. As of 8 March 2012, he holds no shares in the company and has no stock options. Mr Kongelf is a Norwegian citizen.

Sissel Lindland - Chief HR Officer Sissel A. Lindland returned to Aker Solutions in 2008 after having served as SVP Human Resources and acting Chief of Staff in Aker Yards ASA and STX Europe since 2006. With a background in human resources, organisational and business development, Ms Lindland has held various advisory and management position within the Aker group since 1984. In 2002-2006 Ms Lindland was President of Aker Business Services. As of 8 March 2012, she holds 758 shares in the company, and has no stock options. Ms Lindland is a Norwegian citizen.

Mark Riding - Chief Strategic Marketing Mark Riding was appointed EVP of corporate strategic marketing in February 2011. Mr Riding will co-ordinate contact and relationship with key customers, country strategies and corporate M&A opportunities. Mr Riding is an oil and gas industry professional with over 28 years experience in varied senior roles and overseas assignments. In his most recent position, Mr Riding was responsible for deepwater corporate strategic planning, sales, and technology development worldwide at Schlumberger headquarters in Paris. Mr Riding holds a BSc (Hons – first class) in mining engineering from the University of Birmingham, UK. As of 8 March 2012, he holds no shares in the company and has no stock options. Mr Riding is a British citizen.

Regional

Luis Araujo - Regional manager - Brazil Luis Araujo was appointed regional manager for Aker Solutions in Brazil in November 2011. Mr. Araujo lives in Rio de Janeiro and has over 28 years of experience in the industry, most recently as chief executive officer for Wellstream, a pipeline products company with a wide range of pipe solutions. He has also had leading positions with ABB, Coflexip, Vetco and FMC Technologies. He holds a Bachelor degree in Mechanical Engineering from Brazil and an MBA from Edinburgh University, UK. As of 8 March 2012, he holds no shares in the company and has no stock options. Mr Araujo is a Brazilian citizen.

Erik Wiik - Regional manager - North America Erik Wiik was appointed regional manager for Aker Solutions in North America in November 2011. Mr. Wiik lives in Houston and has worked in the oil and gas industry for 22 years, the last 11 years in the United States. He comes from the position as President of Aker Solutions’ Subsea business in North America. He has previously been in charge of corporate initiatives within project risk management, served as business unit president of well services and held managerial roles within construction, engineering and procurement. He is an engineering graduate of Texas A&M University.

Audit committee Aker Solutions has an audit committee comprising three of the directors. The audit committee comprises Nicoletta Giadrossi (Chairperson), Lone Fønss Schrøder and Atle Teigland.

Reward committee The reward committee has three members elected by and among the Board of Directors. The reward committee are Øyvind Eriksen (Chairman), Mikael Lilius and Kjell Inge Røkke.

The reward committee ensures that the Company’s reward policy serves the interest of the shareholders and that the Company has internally consistent and externally competitive remuneration of executives.

Nomination committee The nomination committee shall have at least three members. Its composition must reflect the interests of shareholders, and the members must be independent.

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Registration Document The nomination committee has the following members:  Leif-Arne Langøy (chairman)  Gerhard Heiberg  Kjeld Rimberg  Mette Wikborg

The nomination committee recommends candidates for election to the Board of Directors and nomitation committee. The nomination committee also makes recommendations as to remuneration of Board members.

The largest shareholder of Aker Solutions is Aker Kværner Holding AS (40.27 per cent). Aker Kværner Holding AS is controlled by Aker ASA (70 per cent) which in turn is controlled by Kjell Inge Røkke and his family through TRG Holding AS and The Resource Group AS. All entities which Kjell Inge Røkke controls are considered related parties to Aker Solutions (Aker entities). Other than the above mentioned there are no conflicts of interests between any duties to the issuing entity of the persons referred to above and their private interests or other duties.

All the members of the board, leadership and committees can be reached at Snarøyveien 20, 1364 Fornebu, Norway.

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Registration Document

10. Major shareholders

The 20 largest shareholders in Aker Solutions ASA per 15.10.2012:

Investor Number of Shares % of total % of Top 20 Country 1 AKER KVÆRNER HOLDING AS 110 333 615 40,27 59,18 NOR 2 FOLKETRYGDFONDET 13 047 184 4,76 7 NOR 3 BANK OF NEW YORK MELLON 6 202 927 2,26 3,33 USA 4 JPMORGAN CHASE BANK 6 047 933 2,21 3,24 GBR 5 CLEARSTREAM BANKING S.A. 5 204 672 1,9 2,79 LUX 6 STATE STREET BANK AND TRUST CO. 4 413 757 1,61 2,37 USA 7 STATE STREET BANK AND TRUST CO. 4 310 983 1,57 2,31 USA 8 JPMORGAN CHASE BANK 3 972 048 1,45 2,13 GBR 9 STATE STREET BANK & TRUST CO. 3 918 616 1,43 2,1 USA 10 DANSKE BANK 3 600 876 1,31 1,93 DNK 11 AKER SOLUTIONS ASA 3 492 926 1,27 1,87 NOR 12 SKANDINAVISKA ENSKILDA BANKEN 2 954 088 1,08 1,58 SWE 13 RBC INVESTOR SERVICES BANK 2 850 737 1,04 1,53 LUX 14 CITIBANK NA LONDON BRANCH 2 673 346 0,98 1,43 KWT 15 JPMORGAN CHASE BANK 2 522 583 0,92 1,35 GBR 16 FIDELITY FUNDS-EUROP. GROWTH/SICAV 2 334 524 0,85 1,25 LUX 17 STATE STREET BANK AND TRUST CO 2 307 683 0,84 1,24 USA 18 GOLDMAN SACHS & CO - EQUITY 2 160 358 0,79 1,16 USA 19 STATOIL PENSJON 2 090 389 0,76 1,12 NOR 20 STATE STREET BANK & TRUST CO. 2 003 128 0,73 1,07 USA

The Company's share capital is NOK 454 840 000 divided into 274 000 000 shares with each share having a par value of NOK 1,66. Aker Solutions has one single class of shares only, and each share carries one vote. The shares are registered in book-entry form with VPS under ISIN NO 001 021568.4 and are listed at Oslo Børs under the ticker AKSO.

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Registration Document

11. Financial information concerning the issuer's assets and liabilities, financial position and profits and losses

The financial information for the Group has been prepared in accordance with International Financial Reporting Standards, IFRS and the annual financial statements for Aker Solutions ASA have been prepared in accordance with Norwegian legislation and Norwegian GAAP.

The financial information is incorporated by reference to as follow:

Financial reports 2011 2010 Q2 2012 Q2 2011 Aker Solutions ASA - Parent Income statement Page 67 Page 67 Balance sheet Page 67 Page 67 Cash flow statement Page 68 Page 68 Notes Page 68-76 Page 68-74

Aker Solutions ASA - Group Income statement Page 17 Page 19 Page 11 Page 8 Balance sheet Page 19 Page 21 Page 12 Page 9 Cash flow statement Page 19 Page 21 Page 12 Page 9 Notes Page 22-66 Page 24-66 Page 14-16 Page 11-12 Accounting principles Page 22-27 Page 24-28 Page 14 Page 11 Auditors report Page 77 Page 75 http://www.akersolutions.com/en/Global-menu/Investors/Financial-reports/ http://www.akersolutions.com/en/Global-menu/Investors/Annual-reports/

The historical financial information for 2011 and 2010 has been audited. The historical financial information for the interim reports has not been audited.

Given the scope of the Group’s worldwide operations, group companies are inevitably involved in legal disputes in the course of their activities. Provisions have been made to cover the expected outcome of the disputes in so far as negative outcomes are likely and reliable estimates can be made. However, the final outcome of these cases will always be subject to uncertainties, and may exceed estimated provisions.

There are no governmental, legal or arbitration proceedings (including any such proceedings which are pending or threatened of which the Issuer is aware), during a period covering at least the previous 12 months which may have, or have had in the recent past, significant effects on the Issuer and/or Group's financial position or profitability.

On 6 June 2012, Aker Solutions has completed a new senior unsecured open bond issue of MNOK 1,500 with maturity date in June 2017. The net proceeds of the new bond issue shall be employed for general corporate purposes. Other than this there is no significant change in the financial or trading position of the Group which has occurred since the end of the last financial period for which either audited financial information or interim financial information have been published.

There has been no material adverse change in the prospects of the Issuer since the date of its last published audited financial statements.

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Registration Document

12. Documents on display

For the life of the Registration Document the following documents (or copies thereof), where applicable, may be inspected:

(a) the memorandum and articles of association of the issuer; (b) all reports, letters, and other documents, historical financial information, valuations and statements prepared by any expert at the issuer's request any part of which is included or referred to in the registration document; (c) the historical financial information of the issuer or, in the case of a group, the historical financial information of the issuer and its subsidiary undertakings for each of the two financial years preceding the publication of the registration document.

The documents may be inspected at www.sakersolutions.com or at the Issuer head office.

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13. Cross reference list:

In section 11 in the Registration Document the financial information is incorporated by reference to as follow:

Financial reports 2011 2010 Q2 2012 Q2 2011 Aker Solutions ASA - Parent Income statement Page 67 Page 67 Balance sheet Page 67 Page 67 Cash flow statement Page 68 Page 68 Notes Page 68-76 Page 68-74

Information concerning 2011 is incorporated by reference from Aker Solutions ASA – Annual Report 2011. Information concerning 2010 is incorporated by reference from Aker Solutions ASA – Annual Report 2010. Information concerning Q2 2012 is incorporated by reference from Aker Solutions ASA – Second Quarter 2012. Information concerning Q2 2011 is incorporated by reference from Aker Solutions ASA - Second Quarter 2011.

The financial reports are available at: http://www.akersolutions.com/en/Global-menu/Investors/Financial-reports/

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