Aker Carbon Capture ASA Calls for Extraordinary General Meeting

Aker Carbon Capture ASA (referred to as "ACC") has officially announced an extraordinary general meeting scheduled for October 29, 2025. This meeting is convened in response to a request made by shareholder Andreas Møller, representing A. Møller Invest AS and other shareholders holding over 5% of the company's shares. The primary objective of this meeting is to deliberate on several contentious proposals put forth by Møller, including the potential cancellation of the company's resolution to liquidate and delist, along with the initiation of a corporate investigation concerning the company's past sale of a 20% ownership stake in its subsidiary, SLB Capturi AS.

Background on the Proposal

On October 1, 2025, ACC publicized the shareholder demands that culminated in this extraordinary meeting. The board firmly believes that there is no justifiable basis for the proposed investigation into the exit transaction from May 9, 2025, where ACC sold its 20% stake in SLB Capturi AS to Aker Capital's subsidiary, Aker Carbon Capture HoldCo AS. They assert that the exit transaction was executed following a comprehensive strategic review, which determined that exiting the stake was in the best interest of shareholders, providing immediate financial returns.

The board highlighted that nearly all shares represented by Møller were acquired post-announcement of the Exit Transaction. According to the board, pursuing an unwarranted investigation could misuse company resources and delay returns to shareholders. They also pointed out that shareholders with concerns could have sought more information directly from the company instead of calling for a corporate investigation.

Rationale Behind the Exit Transaction

The Exit Transaction was a culmination of a strategic review where ACC identified limitations on its operating capabilities following its agreement with SLB, which included selling 80% of its business. The review concluded that liquidating remaining assets and distributing cash to shareholders was the most viable course of action. The decision to sell its ownership interest was made in the context of weak market conditions, a deteriorating clean tech environment, and competitive restrictions stemming from the SLB transaction.

The assessment conducted by SEB Corporate Finance, an independent advisor, revealed that the sale price was favorable, effectively securing a significant premium compared to historical trading prices. Their valuation methodologies confirmed that the sale price matched analyst expectations and market benchmarks at the time.

Implications of Not Moving Forward with the Proposal

ACC firmly stands by its previous decision regarding the exit transaction and believes that no investigation is warranted based on the available evidence and rationale. The company has reiterated its focus on ensuring shareholders receive a fair return without the hindrance of unnecessary investigations. The upcoming extraordinary general meeting is designed to provide shareholders a platform for discussion but does not alter the company's commitment to expedite the liquidation process without incurring additional costs.

Meeting Logistics

The extraordinary general meeting will take place virtually, accessible through appropriate digital tools where shareholders can participate live, vote, and ask questions. Shareholders interested in attending the meeting must ensure their registration is completed by October 27, 2025, at 4 p.m. CET. This includes shareholders holding shares via custodians.

All materials pertinent to the extraordinary meeting will be available through ACC's official channels and should be reviewed by interested shareholders ahead of the event. In addition, it's important to note that a separate extraordinary general meeting has already been scheduled for October 17, 2025, to address different matters.

In conclusion, Aker Carbon Capture ASA's positioning reflects a strategic focus on maintaining operational integrity while ensuring shareholder interests are prioritized during a period of necessary transitions within the company.