Reference is made to press release dated 4 March 2025 in respect of Akastor
ASA's (OSE: AKAST) subsidiary DDW Offshore AS ("DDW Offshore") and the agreement
to sell "Skandi Peregrino", which was conditional on charterer's consent. Since
the charterer has not accepted to novate the relevant contract on the vessel,
the agreement to sell the vessel has today been cancelled.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

oyvind.paaske@akastor.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
release was published by Adina Gherghel, Office Manager, Akastor ASA, on 16 May
2025 at 19:30 CET.

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About DDW Offshore:

DDW Offshore owns three modern Anchor Handling Tug Supply (AHTS) vessels (Skandi
Atlantic, Skandi Emerald and Skandi Peregrino) with capability to operate and
support clients on a world-wide basis. The vessels are specially designed to
perform anchor-handling, towing, and supply services at offshore oil and gas
fields.

For further information, please visit homepage: www.ddwoffshore.com

Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.