Kvaerner sells 1 494 234 shares to employees

30 November 2015 - Today, Nordea Markets has on behalf of Kværner ASA sold 1 509 028 shares in relation with the company's share purchase programme for employees. Following the transaction, Kværner ASA holds a total of 2 080 616 own shares. The price was based on the average volume weighted share price on the Oslo Børs (the stock exchange in Oslo) over the five days period from 23 November to 27 November 2015 giving a price per share of NOK 8.1121.

2 507 employees in Norway were invited to participate in Kvaerner's third share purchase programme where they were offered to buy shares for up to NOK 60 000 each. Out of these, 12 percent signed up for an average purchase amount of NOK 40 000.

The participants in the employee share purchase programme were offered a discount of NOK 1 500 in addition to a price reduction of 25 percent on the share price. The shares purchased by the employees through the programme are subject to a three year lock-up period from the date of delivery.

Attached is an overview of the primary insiders' acquisitions in connection with the programmes.

ENDS

For further information, please contact:

Investor Relations:
Ingrid Aarsnes, SVP Investor Relations & Communications, Kvaerner, Tel: +47 67 59 50 46,
Mob: +47 950 38 364, email: ir@kvaerner.com

Media:
Torbjørn Andersen, VP Communications, Kvaerner, Mob: +47 928 85 542,
email: torbjorn.andersen@kvaerner.com

About Kvaerner:
Kvaerner is a leading provider of engineering, procurement and construction (EPC) services, and delivers offshore installations and onshore plants for upstream oil and gas production around the world. Kvaerner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor and preferred partner for oil and gas operators and other engineering and fabrication contractors. Kvaerner and its approximately 2 900 HSSE-focused and experienced employees are recognised for delivering some of the world's most amazing and demanding projects.

In 2014, the Kvaerner group had consolidated annual revenues of approximately NOK 14 billion and the company reported an order backlog at 30 September 2015 of NOK 16.2 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com.

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