Reference is made to Akastor ASA's (OSE: AKAST) press release 3 June 2024
concerning its 50% owned affiliate HMH Holding B.V. ("HMH") and the confidential
first draft registration statement on Form S-1 (the "Registration Statement")
that was submitted with the U.S. Securities and Exchange Commission ("SEC")
relating to a proposed initial public offering of HMH Holding Inc.'s shares. As
part of the customary SEC review process, HMH has submitted an updated draft
Registration Statement which is publicly filed with the SEC, which means that
the content of the draft Registration Statement now is publicly available on
SEC's online database (EDGAR). However, the Registration Statement is not yet
final or effective and is subject to updates and changes.

HMH Holding Inc. intends to list its Class A common stock on The Nasdaq Global
Select Market under the symbol "HMHW". The offering is subject to market and
other conditions, and there can be no assurance as to whether or when the
offering may be completed. The number of shares to be offered and the price
range for the offering have not yet been determined.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

Oyvind.paaske@akastor.com

This information is subject to the disclosure requirements pursuant to Section 5
-12 the Norwegian Securities Trading Act.

A registration statement relating to these securities has been filed with the
SEC but has not yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration statement becomes
effective. This press release is being made pursuant to, and in accordance with,
Rule 134 under the Securities Act of 1933, as amended (the "Securities Act"),
and shall not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction. Any offers, solicitations or offers to buy, or any sales of
securities will be made in accordance with the registration requirements of the
Securities Act.

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About HMH

HMH is a premier drilling solutions provider, which was formed as an independent
company in October 2021 through the merger of Baker Hughes' (NYSE: BKR) Subsea
Drilling Systems business and Akastor ASA's wholly owned subsidiary, MHWirth AS.

HMH is a leading provider of highly engineered, mission-critical equipment
solutions, providing customers with a comprehensive portfolio of drilling
equipment, services and systems utilized in oil and gas drilling operations,
both offshore and onshore. HMH's global reach, technical expertise and
innovative product offerings, coupled with its integrated operations from
manufacturing to aftermarket services, allow HMH to provide customers with first
class technology, engineering and project management services through the entire
asset lifecycle of the equipment it provides. In addition, HMH is growing its
portfolio of products and services to adjacent industries, such as mining. The
complexity and criticality of HMH's installed equipment drive customers to
choose HMH for their aftermarket support, particularly in the offshore
environment, which is subject to extensive regulation.

For further information, please visit homepage: https://hmhw.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.