Subsequent Offering – Prospectus         09.03.14

Aker Philadelphia Shipyard ASA (the "Company") will carry out a subsequent offering (the "Subsequent Offering") of up to 337,000 new shares (the "Offer Shares") towards those shareholders of the Company registered with the VPS as of January 21, 2014 that did not participate in the private placement of 2,250,000 new shares directed towards certain institutional investors in January 2014.

The subscription period for the Subsequent Offering will commence at 09:00 a.m. CET on March 10, 2014 and expire at 16:30 p.m. CET on March 18, 2014.

The subscription price is NOK 165 per Offer Share.

For further information about the Subsequent Offering, please see the prospectus dated March 7, 2014 (the "Prospectus"), the press release dated March 10, 2014, or contact the Company's financial advisor:

Aker Philadelphia Shipyard press release