Akastor ASA (OSE: AKAST) and Mitsui & Co., Ltd, ("Mitsui") have today signed an
agreement for the transfer of all of Mitsui's interests in AKOFS Offshore AS
("AKOFS Offshore") to Akastor. Agreed purchase price, after certain adjustments,
is USD 22.5 million, of which USD 15 million is payable at closing and remaining
USD 7.5 million is payable in two equal tranches in June and December 2025. The
agreement is entered into on an "as is" basis and includes all of Mitsui's
interests in AKOFS Offshore, which includes both equity and shareholder loans.
As part of the transaction, Akastor also assumes Mitsui's exposure under the
guarantee structure related to the financing of "AKOFS Santos".

Following completion of the transaction, Akastor will hold 75% of the shares in
AKOFS Offshore while the remaining 25% will remain owned by Mitsui O.S.K. Lines,
Ltd. ("MOL"). As part of the transaction, Akastor and MOL as remaining
shareholders will negotiate and enter into a new shareholders agreement, on
substantially similar terms but suitably adjusted to reflect the changed
ownership.

Karl Erik Kjelstad, CEO of Akastor, comments