Kværner ASA: The Board of Directors' proposal to Kværner ASA's Extraordinary General Meeting

16 August 2013 - At a meeting on 15 August 2013, the Board of Directors resolved to propose that a semi-annual dividend of NOK 0.58 per share is approved by the Extraordinary General Meeting.

An Extraordinary General Meeting (EGM) is scheduled for Wednesday 10 October 2013 at 09:00 a.m. CET. The notice of EGM will be published and sent to all shareholders at least 21 days prior to the scheduled date of the EGM. Subject to the decision of the EGM, the dividend payment will take place on or about 24 October 2013 to shareholders of record as per the date of the EGM. The share would then be traded exclusive dividend from and including 11 October 2013.

ENDS

For further information, please contact:

Investor relations:
Ingrid Aarsnes, SVP Investor Relations, Kvaerner, Tel: +47 67 59 50 46, Mob: +47 950 38 364

Media:
Odd Naustdal, VP Communication, Kvaerner, Tel: +47 53 41 81 03, Mob: +47 905 76 079

About Kvaerner:
With more than 3 000 HSSE-focused and experienced employees, Kvaerner is a specialised provider of engineering, procurement and construction (EPC) services for offshore platforms and onshore plants. Kværner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor that plans and realises some of the world's most demanding projects as a preferred partner for upstream and downstream oil and gas operators, industrial companies and other engineering and fabrication contractors.

In 2012, the Kvaerner group had consolidated annual revenues of close to NOK 11 billion and the company had an order backlog of almost NOK 30 billion on 30 June 2013. Kvaerner was publicly listed with the ticker "KVAER" at the Oslo Stock Exchange on 8 July 2011. For further information, please visit www.kvaerner.com.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.