Kværner ASA : Mandatory notification of trade

15 November 2012

Kværner ASA awarded a total of 12 006 own shares as bonus shares to qualifying employees as part of Aker Solutions’ 2010 share purchase programme. The share price of NOK 15.59 equals the volume-weighted average share price of Kværner ASA shares on the Oslo Stock Exchange Friday 14 September 2012 as this was an adjustment to the award made 18 September 2012. Following the transaction, Kværner ASA holds no own shares.

The bonus share award is free of charge; however the value of the bonus shares, based on the above share price, is taxable as personal income for each recipient. For more information regarding the 2010 share purchase programme for employees, please see the stock exchange release of 20 January 2010 under Aker Solutions ASA.
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: Mariken Holter, SVP Corporate Communications, Kvaerner, Tel: +47 67 52 74 35, Mob: +47 917 87 358.

About Kvaerner:With more than 3 200 HSE-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 2011, the Kvaerner group had aggregated annual revenues of more than NOK 13 billion and the company had an order backlog at 30 September 2012 of more than NOK 21 billion. 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.