Acquisition of own shares

18 May 2016 - Kværner ASA has today in connection with the company's incentive programme for employees purchased 181 000 own shares in the open market at an average price of NOK 7.55 per share. Following the transaction, Kværner ASA holds a total of 2 636 341 own shares.

ENDS

For further information, please contact:

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

Media:
Torbjørn Andersen, Head of 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. Kværner 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 2 800 HSSE-focused and experienced employees are recognized for delivering some of the world's most amazing and demanding projects.

In 2015, the Kvaerner group had consolidated annual revenues of NOK 12 billion and the company reported an order backlog at 31 March 2016 of NOK 12.1 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.