Status and way forward - Aker Solutions

On track to meet 2015 targetsRevenueNOK billionEBITDANOK billion50403020105432114 %1210864202010 2012* 201502010 2012* 20150*2012: Last four quarters= CAGR = EBITDA margin© 2012 Aker Solutions Slide 5 5 Dec 2012 Capital markets dayPreferred partnerBusiness area performanceRevenueNOK billion12EBITDANOK million1 200101 000880066004400220000-2002010 2012* *12 months to 30 Sept 2012© 2012 Aker Solutions Slide 6 5 Dec 2012 Capital markets dayPreferred partner

Growth per business area 2010-2012RevenuePercentage growth 2010-2012*ROCE% 2010-2012*Cash flowNOK million 2010-2012*OMASUBUMBWISENGMMOPRSDRTOMAUMBWISPRSSUBMLSDRTENGOMASUBDRTUMBMLSPRSWISENGMLSMMO100%2010 2012* *12 months to 30 Sept 2012100%MMO-500 500 1 500© 2012 Aker Solutions Slide 7 5 Dec 2012 Capital markets dayPreferred partnerOperational synergiesCat BÅsgardSnorre ADRTENGOMASUBWISENGSUBDRTMMOFront End Spectrum© 2012 Aker Solutions Slide 8 5 Dec 2012 Capital markets dayPreferred partner

Growth in regionsN AmericaDeep-waterpicking up.5%Shareof empl7%Share ofrevenuesBrazilBooming market,local content req.7%Shareof empl6%Share ofrevenuesEurope &AfricaDeepwater fields.16%Shareof empl17%Share ofrevenuesNorwayWorld’s largestoffshore market53%Shareof emplMENAThe largest oilreserves.~ 1%Shareof empl46%Share ofrevenues~1%Share ofrevenuesAsia PacificGas demand driveour markets.18%Shareof empl22%Share ofrevenues© 2012 Aker Solutions Slide 9 5 Dec 2012 Capital markets dayPreferred partnerFour group prioritiesCustomer relationsIntroduced regional structureKey account managementTargeted top customersPerformance qualityand HSEReduced quality cost by +50%Strengthened risk management30% reduction in TRI frequencyTechnology135 development projects20+ common technologythemesNew licences, patentsPeople and teams2 600 recruited this yearStrengthened leadership teamTraining and retention© 2012 Aker Solutions Slide 10 5 Dec 2012 Capital markets dayPreferred partner

Record high order backlogOrder backlogNOK billion60504030201002010 2011 2012 YTDSkandi Aker Vessel-basedintervention services in AngolaMMO Offshore services for BSPin BruneiEdvard Grieg Detail engineeringof topsideJurong Drilling packages for 6drillships in BrazilCat B Well intervention servicesand drilling on NCSÅsgard & Ormen Lange Subseagas compression© 2012 Aker Solutions Slide 11 5 Dec 2012 Capital markets dayPreferred partnerOrder backlog per business areaOrder backlogNOK billionOrder backlog by execution dateNOK million1614260001222500108610500420SUB UMB DRT PRS MLS MMO WIS OMA ENGQ4 12 2013 Later2010 2012* *12 months to 30 Sept 2012© 2012 Aker Solutions Slide 12 5 Dec 2012 Capital markets dayPreferred partner

E&P spending – growth strengthensGlobal E&P CAPEX spend• Rebounded in 2011, expected tobe 644bn USD in 2013, up from604bn USD in 2012• Exploration at the forefront ofspending growth• Growth for next 5 years 10-15%Source: Barclays Capital Equity Research, Global E&P Spending Update, 4 December 2012Offshore global E&P purchasing spend (OPEX & CAPEX)600 000OpexMillion USD500 000400 000300 000200 000Modification & brownfield CapexDevelopment & well CapexExploration Capex• Long term continuous growth• 10 % CAGR100 00002005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017Source: Rystad DCube, 14 Nov 2012; Selection: offshore purchases, USD million, nominal numbers© 2012 Aker Solutions Slide 13 5 Dec 2012 Capital markets dayPreferred partnerMarket outlook by region25 bn USDExpected total E&P spending 2013-2017 per countrySource: Rystad DCube, 14 Nov 2012; Selection: offshore purchases, USD million for the years 2013-2017, sf5© 2012 Aker Solutions Slide 14 5 Dec 2012 Capital markets dayPreferred partner

Majors dominate offshore spendingPetrobrasStatoilShellChevronGlobal offshore spend 2013 - 2017ExxonMobilBPTotalPemexEniSaudi Aramco600 000 Million USDAbu Dhabi NOC500 000Woodside400 000ConocoPhillips300 000CNOOC200 000Inpex100 000ONGC (India)0Noble Energy2005 2007 2009 2011 2013 2015 2017PetronasAnadarkoApacheMillion USD0 20 000 40 000 60 000 80 000 100 000 120 000 140 000 160 000 180 000 200 000© 2012 Aker Solutions Slide 15 5 Dec 2012 Capital markets dayPreferred partnerIndustry challengesCapacityQualityCompetition© 2012 Aker Solutions Slide 16 5 Dec 2012 Capital markets dayPreferred partner

Growth and portfolio management© 2012 Aker Solutions Slide 17 5 Dec 2012 Capital markets dayPreferred partnerEBITDA margin to gradually increase to 15%EBITDA marginPercentageImprovedefficiencyQuality costreductionBetter pricingpowerPortfolio miximprovement15%2012 2017© 2012 Aker Solutions Slide 18 5 Dec 2012 Capital markets dayPreferred partner

Actions to improve profitabilityImprove efficiencyInnovation processesGlobal sourcingLean manufacturingRemove internal barriersReduce cost ofqualityTender process disciplineProject managementexcellence (PEM)Upfront technologyqualificationPortfolio miximprovementsMore balanced portfolioFocus resources andmanagement on corecapabilitiesPricing powerMarket share growth withstronger regional presenceExecution as differentiator(best people)© 2012 Aker Solutions Slide 19 5 Dec 2012 Capital markets dayPreferred partnerKey areas of focus for growthCustomer relationsRegional model roll-out:Norway, Europe & AfricaFront End House: Conceptand feasibility studiesPerformance, qualityand HSEEnterprise Risk ManagementFrom Re-active to PreventiveHSETechnologyArcticIOR & EORFluid handlingAsset integrity managementPeople and teamsSecure people growth,capacity and competencePreferred employer in theindustryPerformance-driven culture© 2012 Aker Solutions Slide 20 5 Dec 2012 Capital markets dayPreferred partner

ConclusionContinuedgrowth■ On track to reach 5-year target to double in size from 2010 to 2015■ Expect continued growth beyond 2015■ Potential to double revenues and increase EBITDA margin to 15 per cent in 2017■ Prioritise resources■ Improve efficiency, customer relations and pricing■ Be the preferred employer in the industry© 2012 Aker Solutions Slide 21 5 Dec 2012 Capital markets dayPreferred partner