Aker Solutions Asa · OSL:AKSO
Aker Solutions Asa — Q3 2026 Earnings Presentation
37 slides from Aker Solutions Asa's earnings presentation, October 2026
Slide 1: 3Q 2026
3Q 2026 Paal Eikeseth, President & CEO Idar Eikrem, CFO
Slide 2: Introduction & Operational Update
Introduction & Operational Update Paal Eikeseth, President and CEO
Slide 3: 3Q 2026 | Deliver and Transform
3Q 2026| Deliver and Transform Revenue Excluding special items EBITDA Excluding special items Financials 20 1.6 12% 17.0 16.7 1.4 10% ▪ Continued solid performance following peak activity levels in 2025 15 13.4 13.1 13.5 1.2 1.0 9% 8% 9% 9% 10% 8% ▪ Robust financial position with net cash position o
Slide 4: 3Q 2026 | Project Portfolio Highlights
3Q 2026 | Project Portfolio Highlights Aker BP Projects Offshore Wind HVDC Hydropower Subsea Tie-Backs Carbon Capture & Storage Small Modular Reactors Third-Quarter Presentation 4
Slide 5: 3Q 2026 | Long-Term Frame Agreements in Life Cycle
3Q 2026 | Long-Term Frame Agreements in Life Cycle Selected Life Cycle Frame Agreements Selected Frame First 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035-> Agreements awarded <20001 <2000 <2039 2016 <2038 <2000 2012 2005 2015 <2000 Awarded 3Q 2026 2019 Fixed period Option period Tendering
Slide 6: 3Q 2026 | Tendering activity
3Q 2026| Tendering activity Tender Value Development NOK BILLION 90 60 Europe 30 25 NOK BILLION 0 Americas 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 2Q 26 3Q 26 2.3 NOK BILLION Asia/Australia Africa 43 1.4 NOK BILLION NOK BILLION Figures excluding SLB OneSubsea tenders Third-Quarter Presentation 6
Slide 7: SLB OneSubsea on track to meet its order intake targets
3Q 2026| SLB OneSubsea on track to meet its order intake targets Positioning the company for growth from 2027 onwards Europe Equinor Wisting Global Subsea Equipment Spending Equinor Snøhvit gas compression 29% North and South America (excl. Brazil) Equinor Tie-back projects Equinor Bay du Nord Equin
Slide 8: Financial Performance
Financial Performance Idar Eikrem, CFO
Slide 9: 3Q 2026 | Key Figures
3Q 2026| Key Figures NOK million 3Q 2026 3Q 2025 2Q 2026 2025 Revenue and other income Revenue ex. special items 13,464 13,464 16,983 16,983 13,074 13,074 63,202 63,207 Financials and Highlights Net profit from SLB OneSubsea 281 295 174 749 Revenue ex. special items and Net profit from SLB OneSubsea
Slide 10: 3Q 2026 | Renewables and Field Development
3Q 2026| Renewables and Field Development Revenue Excluding special items EBITDA Excluding special items 14 1,200 10% Financials and Highlights 12 1,000 9% 8% 10 800 8% 8% 8% ▪ Revenue of NOK 9.2 billion in the quarter 8% 6% 8 600 ▪ Revenue development in line with expectations 6 4% 400 4 2% 2 200 ▪
Slide 11: 3Q 2026 | Life Cycle
3Q 2026| Life Cycle Revenue Excluding special items EBITDA Excluding special items 4.0 300 10% Financials and Highlights 3.5 250 8% 3.0 200 7% 8% 7% 8% ▪ Revenue of NOK 3.6 billion in the quarter 2.5 7% 6% 2.0 150 ▪ Lower activity in electrification portfolio compared to same period last year 1.5 4%
Slide 12: 3Q 2026 | SLB OneSubsea
3Q 2026| SLB OneSubsea Figures in US dollars showing SLB OneSubsea on 100% basis, US GAAP reporting Revenue Excluding special items EBITDA Excluding special items Net Profit Before PPA1 200 160 Financials and Highlights 1.2 20% 18% 18% 18% 140 17% 1.0 17% 120 ▪ Revenue of USD 1.1 billion in the quar
Slide 13: 3Q 2026 | Cash Generation
3Q 2026| Cash Generation Change in Cash and Cash Equivalents NOK MILLION Financials and Highlights 5,769 ▪ Cash flow from operations of NOK 1.6 billion ▪ Including improvement of working capital of NOK 677 million 2,052 4,331 328 677 67 137 251 49 ▪ CAPEX investments of NOK 67 million 2,026 ▪ Mainly
Slide 14: Outlook & Summary
Outlook & Summary Paal Eikeseth, President and CEO
Slide 15: 3Q 2026 | Reshaping Aker Solutions
3Q 2026 | Reshaping Aker Solutions Short-Term Medium-/Long-Term • Safeguarding delivery of the project portfolio • Building a more competitive and scalable business • Reducing cost base to match lower activity levels • Targeting profitable growth across selected markets • Aligning capacity with futu
Slide 16: Summary Outlook
Summary Outlook ▪ Continued solid financial performance following peak activity ▪ Revenue1 in 2026 expected to be between NOK 53 and 55 levels in 2025 billion ▪ Several milestones met on the project portfolio, including the ▪ 2026 EBITDA margin1 is expected to be between sail-away of Aker BP’s Valha
Slide 17: We solve global energy challenges for future generations
Lk — | We solve global energy challenges gy for future generations &@ 4 ea EE ea
Slide 18: Additional Information
ES Aker Solutions Additional Information
Slide 19: 3Q 2026 | Order Intake and Backlog
3Q 2026| Order Intake and Backlog Order Backlog by Execution Year NOK BILLION Order Backlog by Type % 35 33.3 30 24.0 25 20 26.4 10.2 15 12.0 10 3.4 12.9 5 8.4 5.8 0 4Q 26 2027 2028 -> Renewables and Field Development Life Cycle Other Alliance 1 Reimbursable 2 Lump Sum 3 Renewables and Transitional
Slide 20: Timing of Selected Large Projects in the Portfolio, by Segment
Timing of Selected Large Projects in the Portfolio, by Segment Renewables and Field Development Life Cycle Delivery year/ Delivery year/ Project Customer Award year Project Customer Award year completion (est.) completion (est.) Hugin A (incl. offshore scope) Aker BP 2022 2027 Aker BP EMM/ Modificat
Slide 21: Renewables and Transitional Energy Solutions
Renewables and Transitional Energy Solutions NOK million Revenue 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 3Q 2026 Total revenue (ex. special items) 13,181 15,708 53,193 14,393 15,157 16,983 16,674 63,207 13,425 13,074 13,464 Renewables and Transitional Energy S
Slide 22: Alternative Performance Measures
Alternative Performance Measures Basis for Preparation This presentation provides financial highlights for the quarter for Aker Solutions, a Norwegian limited company listed on the Oslo Stock Exchange. The same measurement principles as presented in the Annual Report 2025 have been used when prepari
Slide 23: Alternative Performance Measures
Alternative Performance Measures Profit Measures Renewables and Field Development Life Cycle Other/ Eliminations Aker Solutions NOK million 3Q 2026 3Q 2025 3Q 2026 3Q 2025 3Q 2026 3Q 2025 3Q 2026 3Q 2025 Revenue and other income 9,191 12,517 3,614 3,796 658 670 13,464 16,983 EBITDA and EBIT terms ar
Slide 24: Alternative Performance Measures
Alternative Performance Measures Financing Measures Alternative financing measures are presented as they are indicators of the company’s ability to obtain financing and service its debts. Net Current Operating Assets (NCOA) or Working Capital is a measure of the current Liquidity buffer (available l
Slide 25: Alternative Performance Measures
Alternative Performance Measures Order Intake Measures Order intake, order backlog and book-to-bill ratios are presented as alternative performance measures, as they are indicators of the company’s revenues and operations in the future. Order intake includes new agreed customer contracts in the peri
Slide 26: Special Items
Special Items NOK million Special items 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 3Q 2026 Restructuring 1 5 9 1 2 14 194 211 31 7 13 Non-qualifying hedges -3 1 -3 5 2 3 -1 9 5 - -5 Other special items 6 24 58 4 -3 1 35 37 3 2 2 Special items EBITDA 4 30 63 10 2
Slide 27: Income Statement
Income Statement NOK million Income statement consolidated 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 3Q 2026 Revenue 12,940 15,543 52,411 14,199 14,969 16,689 16,595 62,452 13,281 12,900 13,183 Net profit from SLB OneSubsea 244 166 789 190 185 295 80 749 143 174
Slide 28: Cash Flow
Cash Flow NOK million Cash flow 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 3Q 2026 EBITDA 1,204 1,191 4,568 1,203 1,257 1,472 1,095 5,027 1,112 1,190 1,283 Change in cash flow from operating activities -1,723 -7 -1,461 -364 -856 -1,045 -148 -2,413 1,574 -1,401 35
Slide 29: Balance Sheet – Assets
Balance Sheet – Assets NOK million Assets 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Property, plant and equipment 4,043 4,053 3,925 3,842 3,720 3,626 3,431 3,261 3,044 Intangible assets including Goodwill 3,514 3,487 3,459 3,430 3,428 3,438 3,425 3,414 3,415 Right-of-us
Slide 30: Balance Sheet – Liabilities and Equity
Balance Sheet – Liabilities and Equity NOK million Liabilities and equity 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 Total equity attributable to the parent 20,070 11,270 11,286 9,678 10,540 11,388 12,232 8,769 9,272 Non-controlling interests -141 -144 -143 -144 -147 -14
Slide 31: Split per Segment
Split per Segment NOK million Revenue and other income 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 3Q 2026 Renewables and Field Development 9,217 11,469 38,090 10,401 10,757 12,517 12,429 46,105 9,601 8,991 9,191 Life Cycle 3,453 3,776 13,249 3,518 3,898 3,796 3,7
Slide 32: Split per Segment
Split per Segment NOK million NCOA 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 NCOA -7,655 -7,848 -7,576 -7,057 -6,509 -6,503 -8,299 -7,101 -7,778 Order intake 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 3Q 2026 Renewables and Field Dev
Slide 33: Split per Segment – Excluding Special Items
Split per Segment – Excluding Special Items NOK million EBITDA (ex. special items) 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 3Q 2026 Renewables and Field Development 774 820 3,097 870 829 1,008 1,005 3,712 721 846 775 Life Cycle 244 277 920 234 275 275 293 1,076
Slide 34: Order Backlog by Market
Order Backlog by Market NOK billion, % Order backlog by Market 3Q 2026 3Q 2025 Norway 76% 69% Europe 19% 26% Americas 4% 1% Asia Pacific 1% 3% Africa 1% 1% Total 100% 100% Total backlog (NOK billion) 69.3 61.7 Third-Quarter Presentation 34
Slide 35: SLB OneSubsea (US GAAP)
SLB OneSubsea (US GAAP) USD million Income statement 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 3Q 2026 Revenue 1,002 947 3,897 934 939 946 1,007 3,825 857 990 1,063 EBITDA ex. special items1 184 164 710 191 195 174 180 740 144 170 197 EBITDA ex. special items ma
Slide 36: E Aker
E Aker Solutions
Slide 37: Copyright and Disclaimer
Copyright and Disclaimer Copyright Copyright of all published material including photographs, drawings and images in this document remains vested in Aker Solutions and third party contributors as appropriate. Accordingly, neither the whole nor any part of this document shall be reproduced in any for