Correction – Mandatory notification of trade Primary Insiders – Kværner ASA

14 January 2020

Idar Eikrem, EVP & CFO in Kværner ASA purchased through a private company on Friday 20 December 2019, 40 000 shares in Kværner ASA at a price of NOK 10.75. Following the transaction, Idar Eikrem holds 181 329 shares in Kværner ASA, this including shareholding owned through a private company.

In the release 20 December 2019 Idar Eikrem’s total shareholding, including shares owned through a private company was sad to be 180 329, the correct shareholding after the purchase is 181 329 shares.

END

For further information, please contact:

Investor inquiries: Idar Eikrem, EVP & CFO, Kvaerner, Mob: +47 950 28 363, email: ir@kvaerner.com (mailto:ir@kvaerner.com) About Kvaerner: Kvaerner is a project execution specialist and a trusted advisor for our clients. We provide engineering, procurement and construction (EPC) services and deliver advanced offshore and onshore installations around the world. We have offices in seven countries and approximately 2 800 employees. Health, Safety, Security and Environment (HSSE) has the highest priority in our work, and we aim to deliver technology and solutions in a safe and sustainable way. Our passion, experience and expertise realise values for clients and societies. Kværner ASA, through its subsidiaries and affiliates (“Kvaerner”), is an international contractor and preferred partner for operators and contractors within oil and gas, renewable energy and in the field of engineering and fabrication. In 2018, Kvaerner’s Field Development segment had consolidated annual revenues of NOK 7.3 billion and the company reported an order backlog at 30 September 2019 of NOK 8.3 billion. Kvaerner is publicly listed with the ticker “KVAER” at the Oslo Stock Exchange.

For further information, please visit www.kvaerner.com (http://www.kvaerner.com).

To subscribe or unsubscribe to our press releases, please see our web page: https://www.kvaerner.com/investors/news-and-stock-exchange- announcements/subscribe-to-releases/

Related Articles

Kvaerner awarded large platform recycling job

30 June 2020

Kvaerner has been awarded by Allseas a contract to dismantle and recycle three large topsides, three jackets and four bridges from the Valhall and Hod fields, with a combined weight of 33 000 tonnes, as well as options for another 5 000 tonnes.

Invitation to presentation of results for Second quarter and half year results 2020

22 June 2020

Kværner ASA will publish its Second quarter and half year results 2020 at the Oslo Stock Exchange on Thursday 9 July 2020 at 07:00 CET.

Kværner ASA: Mandatory notification of trade

15 June 2020

15 June 2020 – Shares awarded to employees under the variable pay programme 2017. Kværner ASA has awarded 8 109 shares to employees at a price of NOK 6.92 per share under the variable pay programme 2017. The share price was calculated 30 April 2018 as set out in the Statement of executive remuneration approved […]