Aker Solutions Earnings and Corporate Presentation

General Financing Measures Alternative financing and equity measures are presented as they are indicators of the company's ability to obtain financing and service its debts. Liquidity buffer is a measure of available cash and is calculated by adding together the cash and cash equivalents and the unused credit facility. NOK million Cash and cash equivalents Credit facility (unused) Liquidity buffer 1Q 2019 1Q 2018 1,872 2,607 5,000 6,872 5,000 7,607 Gross Debt and Net Interest-Bearing Debt are measures that show the overall debt situation. Net debt is calculated by netting the value of a company's liabilities and debts with its cash and other similar short-term financial assets. NOK million Non-current borrowings 1Q 2019 1Q 2018 Current borrowings 1,125 495 1,764 2,745 Gross debt 2,889 3,241 Current interest-bearing receivables (30) (131) Non-current interest-bearing receivables Cash and cash equivalents 2) (47) (27) (1,872) (2,607) 1) Net debt 940 475 1) Excluding effects of IFRS 16 2) Net Current Operating Assets (NCOA) or Working Capital is a measure of the current capital necessary to maintain operations. Working capital includes trade receivables, trade payables, accruals, provisions and current tax assets and liabilities. NOK million Inventory Trade and other receivables Current tax assets Trade and other payables Provisions 1Q 2019 320 Non-current interest-bearing receivables are included in Other non-current assets in consolidated balance sheet 1Q 2018 9,694 334 7,251 101 145 (9,235) (8,264) Net debt to EBITDA (leverage ratio) is a key financial measure that is used by management to assess the borrowing capacity of a company. The ratio shows how many years it would take for a company to pay back its debt, if net debt and EBITDA are held constant. The ratio is one of the debt covenants of the company. The ratio is calculated as net debt (total principal debt outstanding less unrestricted cash) divided by EBITDA excluding certain special items (as defined in loan agreements) for the last twelve month period. If a company has more cash than debt, the ratio can be negative. (820) (841) Current tax liabilities (121) (47) NOK million Effects of IFRS 16¹) 1Q 2019 309 Net current operating assets (NCOA) Gross interest bearing debt 2,889 1Q 2018 3,241 248 (1,422) 1) Reclassification of onerous lease provisions and lease accruals for rent-free periods previously reported as part of NCOA. Starting from January 1, 2019 these amounts are reported as part of ROU asset under IFRS 16 Cash and cash equivalents Net debt (1,872) (2,607) 1,017 633 EBITDA last twelve months 1,879 1,589 Restructuring cost and other special items Adjusted EBITDA last twelve months 35 94 1,914 1,684 Net debt to EBITDA (leverage ratio) 0.53 0.38 2019 Aker Solutions May 16, 2019 Slide 37 Aker Solutions

View entire presentation