Kvaerner sells 52 275 shares to managers

18 December 2015 - Today, Nordea Markets has on behalf of Kværner ASA sold 52 275 shares in relation with the company's share purchase programme for managers. Following the transaction, Kværner ASA holds a total of 2 028 341 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 13 December to 17 December 2015 giving a price per share of NOK 7.6521.

Kvaerner offered selected managers to buy shares for a maximum amount of 25 percent of their annual base salary. A price reduction of 25 percent of the share price will apply in exchange for the purchased shares being subject to a three-year lock-up period. The managers are responsible for the financing and upfront cash settlement of these purchases.

51 managers were invited to participate in Kvaerner's third share purchase programme where they were offered to buy shares for up to 25 percent of their annual base salary.
Attached is an overview of the primary insiders' acquisition in connection with the programme.

ENDS

For further information, please contact:

Investor Relations:
Eiliv Gjesdal, EVP & CFO, Kvaerner, Tel: +47 229 45 603 , email: ir@kvaerner.com

Media:
Odd Naustdal, VP Communications, Kvaerner, Tel: +47 53 41 81 03, Mob: +47 905 76 079
email: odd.naustdal@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.