Glossary of Terms

Term	Definition
ACC	Aker Carbon Capture
ACH	Aker Clean Hydrogen
AIM	Asset Integrity Management
AKSO	Aker Solutions' ticker at the Oslo Stock Exchange
ANSI	American National Standards Institute
AOA	Angolan Kwanza (Currency)
AOW	Aker Offshore Wind
APAC	Asia Pacific
API	American Petroleum Institute
AVP	Approved Vendor List
BIC	Business Integrity and Compliance
BOD	Board of Directors
BRL	Brazilian Real (Currency)
CAPEX	Capital Expenditure
CCO	Chief Compliance Officer
CCUS	Carbon Capture, Utilization and Storage
CDP	Carbon Disclosure Project
CEO	Chief Executive Officer
CERT	Corporate Emergency Response Team
CHARM	Chemical Hazard Assessment and Risk Management
CO2	Carbon Dioxide
CO2e	Carbon Dioxide Equivalent
COSO	Committee of Sponsoring Organizations of the Treadway Commission
CPI	Corruptions Perception Index
CRC	Corporate Risk Committee
CRN	Country Risk Notification
CSR	Corporate Social Responsibility
D&I	Diversity and Inclusion
DE&I	Diversity, Equality and Inclusion
EAC	Energy Attribute Certificate
EAP	Employee Assistance Program
EBIT	Earnings Before Interest and Taxes
EBITDA	Earnings Before Interest, Taxes, Depreciation and Amortization
EIA	Environmental Impact Assessment
EMEA	Europe, Middle East and Africa
EMM	Electrification, Maintenance and Modifications
EMS	Enterprise Management System
EMT	Executive Management Team
EOR	Enhanced Oil Recovery
EPCI	Engineering, Procurement, Construction and Installation
EPS	Earnings Per Share
ERC	Enterprise Risk Committee
ERM	Enterprise Risk Management
ERT	Emergency Response Team
ESG	Environmental, Social and Governance
ESP	Employee Share Purchase Program
EU	European Union
EUR	Euro (Currency)
EVP	Executive Vice President
FA	Frame Agreement
FEED	Front-End Engineering and Design
FPSO	Floating Production, Storage and Offloading Vessel
GBP	Great British Pound (Currency)
GBS	Gravity-Based Structure
GHG	Greenhouse Gas
GO	Guarantee of Origin
GRI	Global Reporting Initiative
GSOC	Global Security Operations Center
GWC	Global Works Council
HAZID	Hazard Identification Study
HAZOP	Hazard and Operability Study
HSSE	Health, Safety, Security and Environment
HVDC	High-Voltage, Direct Current
IBA	Important Bird Area
ICFR	Internal Controls over Financial Reporting
IDD	Integrity Due Diligence
IEA	International Energy Agency
IFRS	International Financial Reporting Standards
ILO	International Labor Organization
IOGP	International Association of Oil and Gas Producers
IOR	Increased Oil Recovery
IPIECA	International Petroleum Industry Environmental Conservation Association
IR	Investor Relations
I-REC	International Renewable Energy Certificate
ISO	International Standards Organization
IT	Information Technology
ITB	Invitation to Bid
ITT	Invitation to Tender
IWOCS	Intervention and Workover Control System
JIP	Joint Industry Program
JSA	Job Safety Analysis
JV	Joint Venture
KAM	Key Account Manager
KPI	Key Performance Indicator
KVA	Kilovolt-Ampere
LARS	Launch and Recovery System
LCA	Lifecycle Assessment
LCI	Life Cycle Information
LDs	Liquidated Damages
LINCCS	Linking Carbon Capture and Storage
LMS	Learning Management System
LNG	Liquefied Natural Gas
LOI	Letter of Intent
LTI	Lost Time Incident
LTIF	Lost Time Incident Frequency
MBOE	Million Barrels of Oil Equivalent
MIPS	Method Integrated Project System
MSP	Major Subsea Projects
MVA	Megavolt-Ampere
MWH	Megawatt hours
NCGB	Norwegian Corporate Governance Board
NCS	Norwegian Continental Shelf
NGO	Non-Governmental Organization
NIST	National Institute of Standards and Technology
NOC	National Oil Companies
NOIA	National Ocean Industries Association
NOK	Norwegian Krone (Currency)
OCI	Other Comprehensive Income
OPEX	Operating Expenses
P&O	People and Organization
P&T	Performance and Transformation
PEM	Project Execution Model
PPA	Power Purchase Agreement
PPE	Personal Protective Equipment
Q&CI	Quality and Continuous Improvement
QVL	Qualified Vendor List
R&D	Research and Development
REC	Renewable Energy Certificate
SBT	Science-based Target
SBTi	Science Based Targets initiative
SDG	Sustainable Development Goals
SIF	Serious Incident Frequency
SLS	Subsea Lifecyle Services
SVP	Senior Vice President
TCFD	Task Force on Climate-Related Financial Disclosures
TCO	Total Cost of Ownership
TES	Tender and Execution Safeguarding
TLP	Tension-Leg Platform
TRG	The Resource Group
TRIF	Total Recordable Incident Frequency
TRL	Technology Readiness Level
UK	United Kingdom
UN	United Nations
UNSPSC	United Nations Standard Products and Services Code
U.S.	United States
USD	United States Dollar (Currency)
WACC	Weighted Average Cost of Capital
WEC	Working Environment Committee
WTW	Wheel to Wheel