With reference to the stock exchange notice on 12 August 2021, Aker Offshore
Wind and Mainstream Renewable Power ("Mainstream") have closed the transaction
which will see them take an initial 50 percent ownership stake in Progression
Energy's 800 MW floating offshore wind project in Japan. The project is a well
-formed early-stage development opportunity, and the site has been identified as
ideal for floating wind.

With the successful closing of the transaction, the parties will now
collectively continue to mature the project. As a consortium, the three
companies bring together highly complementary capabilities and experience. Aker
Offshore Wind, as a part of the Aker group of companies, is able to leverage
decades of offshore and floating expertise, whilst Mainstream brings a global
leadership position in offshore wind development. Progression Energy has a
successful track record in recognizing markets with strong fundamentals early
and positioning itself for success. Progression Energy has a team established in
Japan with experience in engaging stakeholders such as fishing unions and
securing permits for its multiple projects.

"We are pleased to join the floating wind ambition in Japan. As an early pioneer
in floating wind power, Japan is now positioned to benefit from our access to
Principle Power's field-proven WindFloat® floating offshore technology and our
ability to accelerate its deployment at scale with the local partners through
industrialization," said Philippe Kavafyan, Chief Executive Officer of Aker
Offshore Wind.

"We are delighted to partner with Aker Offshore Wind and Progression Energy to
expand our growing offshore wind footprint in the APAC region, where we believe
we will significantly contribute to the growth of the emerging Japanese offshore
wind sector. This will support the wider decarbonization of the economy and
positively contribute to the country accelerating its net zero ambitions," said
Mary Quaney, Chief Executive Officer of Mainstream.

"In 2015, Progression Energy recognized that floating offshore wind would become
a major segment of the offshore wind industry. Since that time, Progression
Energy has originated floating projects in four markets globally. Japan has set
a goal of zero emissions by 2050 with a strong focus on offshore wind. We are
excited to bring Aker Offshore Wind and Mainstream Renewable Power on board and
believe the three companies, working in partnership, bring a unique set of
strengths that will be vital in helping us advance our project to FID," said
Chris Swartley, Chief Executive Officer of Progression Energy.

Japan aims to expand offshore wind energy capacity to 10 GW by 2030 and 30-45 GW
by 2040, according to the Ministry of Economy, Trade and Industry (METI).
Project areas for offshore floating wind will be put to auction for interested
companies to submit their proposals.

For further information, please contact:

Maria Lanza Knudsen, media contact, +47 48 44 24 26,
maria.knudsen@akeroffshorewind.com

Christian Yggeseth, investor contact, +47 915 10 000,
christian.yggeseth@akerhorizons.com

About Aker Offshore Wind

Aker Offshore Wind Aker Offshore Wind is an offshore wind developer focused on
assets in deep waters and specialized on floating energy systems. With global
operations, the current portfolio consists of development projects and prospects
located in Asia, North America and Europe. Aker Offshore Wind effectively
deploys cost effective technologies from decades of offshore energy development.
The company is majority-owned by Aker Horizons, an investment company dedicated

to creating value and reducing emissions from renewable energy and
decarbonization technologies. Aker Offshore Wind [AOW-ME] is listed on Euronext
Growth in Oslo, Norway.

www.akeroffshorewind.com

About Mainstream Renewable Power

Mainstream Renewable Power is a leading pure-play renewable energy company with
a global footprint. The company is focused on expanding its high-quality
pipeline of more than 16.2 Gigawatts (GW) of wind and solar assets across Latin
America, Africa, Asia Pacific as well as the global offshore wind sector. In
2021, Aker Horizons acquired a 75 percent equity stake in the company, enabling
Mainstream to accelerate its global expansion.

Mainstream has raised more than EUR3.0bn in project finance to date and employs
more than 340 staff across five continents.

www.mainstreamrp.com

About Progression Energy

Progression Energy is a floating offshore wind developer with approximately 4GWs
of project assets across four markets. Progression's development approach is
predicated on its early entry into markets that demonstrate a strong geo
-economic need for large-scale floating wind projects, and a relationship-based
development approach that initiates relationships with communities and
stakeholders well before project development begins, and cultivates these
relationships throughout project development, construction and operations.

www.progression-energy.com