Kværner : CORRECTION Kvaerner sells 1 430 429 shares to employees

CORRECTION Kvaerner sells 1 430 429 shares to employees

5 December 2019 - The 26 November 2019 Nordea Markets sold on behalf of Kværner ASA 1 430 429 shares in relation with the company's share purchase programme for employees. Following the transaction, Kværner ASA holds a total of 1 093 77 own shares. The price was based on the average volume weighted share price on Oslo stock exchange over the five days period from 18 November to 22 November 2019 giving a price per share of NOK 12.46 More than 2 450 employees in Norway were invited to participate in Kvaerner's fifth share purchase programme where they were offered to buy shares for up to NOK 60 000 each. The participants in the employee share purchase programme were offered a discount of up to NOK 3 000 in addition to a price reduction of 20 percent on the share price. The shares purchased by the employees through the programme are subject to a two year lock- up period from the date of delivery. In the release 26 November 2019 the overview of the primary insiders shareholdings contained an error. An attachment with new corrected total shareholdings after the share purchase in connection with the programme is attached. ENDS For further information, please contact: Media inquiries: Torbjørn Andersen, Head of IR & Communications, Kvaerner, Mob: [phone], email: [e-mail] (https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.globenews wire.com%2FTracker%3Fdata%3DmWKRMJtJZXd45i3YPxzhVWKovdYcNir6N39zshuZ4Q_zQy_An7DZ Pe_ioLQnK1BzEYX1U_8V2459DvcTPszeLMVoTYjno5S5OUEIuO0SLzlNr2kyxBsKtAXaDb7qgvNM&dat a=02%7C01%7Csimona.stromme%40kvaerner.com%7Cca30589cb43c446a373908d75dc7a8af%7C2 0d4745c70614b6d84dc036d4d008aed%7C1%7C0%7C637080984424132356&sdata=L6ekLmwysvyti CJWSRFN9s1KLuEEoA00%2FaiqUUNlGWg%3D&reserved=0) Investor inquiries: Idar Eikrem, EVP & CFO, Kvaerner, Mob: [phone], email: [e-mail] (https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.globenews wire.com%2FTracker%3Fdata%3D-Dw98vQJmm29am4YIqgliAQC- kLPZR7TDLK9mH9BYuDsLhca0MkVE0B-oPdPgxCPz3VuFDstcI5- c4CN3rSzsQ%3D%3D&data=02%7C01%7Csimona.stromme%40kvaerner.com%7Cca30589cb43c446a 373908d75dc7a8af%7C20d4745c70614b6d84dc036d4d008aed%7C1%7C0%7C637080984424132356 &sdata=cJkCJ875QidTV%2Blp%2ByedgDyDIqpElRso7q5h%2FzXuan4%3D&reserved=0) 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) (http://www.kvaerner.com (https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.globenews wire.com%2FTracker%3Fdata%3D02bA9C7EjW- yZ0D2JmVukSDJA3FEQfenCFoEvKyun47ESuNpzFan3PBafgSNsluSaxS6bP2dzZNhlft5gzR1QQuWOUg sCVg5AZ1cL15S1_k%3D&data=02%7C01%7Csimona.stromme%40kvaerner.com%7Cca30589cb43c4 46a373908d75dc7a8af%7C20d4745c70614b6d84dc036d4d008aed%7C1%7C0%7C637080984424142 312&sdata=GImKFm2SrsnsJuL%2FtEUicJ08WU7N7hvedbxVR7r6UIs%3D&reserved=0)). 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/ (https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.globenews wire.com%2FTracker%3Fdata%3DA0iq6FZm5DE3S0RHBPyS9bdarc_Z643iFoPQq7oR2UhR_D58WQTc EycTA2P9jTityO3m3L84KbftO9nALTjrk5z_ujUw0A3rOrphDOH5L9x9C5COGUIIBzRcZ- lztOr5uBrfSqSV_ofTRI0yS__bhlICtfW9tSEUaO9lv0N6prGVBn1jyEuyDk5Mn3FfX1gfLOMViaUxAh FYglG0lCQh2d_bRFeVATAtJWv1UP0F2RXznl77E60- 1WhLxkjWRysBDbXaSPJlZj8svajwjTDlZbBKOgpF9yiscItyaQhud2k%3D&data=02%7C01%7Csimona .stromme%40kvaerner.com%7C2b595e446fd94d0555a408d75b6c1c0d%7C20d4745c70614b6d84d c036d4d008aed%7C1%7C0%7C637078392191805968&sdata=YDxztC7Yr%2FYAfIexeXghsphTuXGRk H1RPN4s5qTK4f0%3D&reserved=0)