Baker Hughes: Us Drillers Add Rigs For Fourth Time In Five Weeks

Akastor ASA’s (OSE: AKAST) 50% owned affiliate HMH has today successfully completed a USD 200 million senior secured bond issue with a 3-year tenor and a fixed coupon of 7.875% per annum (the “Bonds”). Reference is made to Akastor’s stock exchange notice on 2 December 2025. The net proceeds from the Bonds will be applied towards settlement in full of HMH’s existing USD 200 million senior secured bond issue with ISIN NO0013063495 (“HMHH02”). HMH intends to seek for listing of the Bonds on Euronext ABM.

For further details reference is made to the separate announcement issued by HMH and which is available on HMH’s website: https://hmhw.com/investors/

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

E-mail: oyvind.paaske@akastor.com

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading 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’ Subsea Drilling Systems business and Akastor ASA’s wholly owned subsidiary, MHWirth AS.

HMH combines integrated delivery capabilities, capital, renowned industry expertise and delivers the full range of offshore drilling equipment products and packages at scale. HMH aims to support the industry’s transition toward more energy-efficient solutions, as well as deploying technologies and service solutions to make the sector more competitive through increased drilling efficiency. Moreover, the Company’s service and technology portfolio will be utilized as a springboard for future growth, both within drilling services and when pursuing opportunities towards adjacent industries such as renewables and mining.

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

About Akastor

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.

For further information, please visit homepage: https://akastor.com/