Kvaerner sells 750 591 shares to employees

5. December 2017– Today, Nordea Markets has on behalf of Kværner ASA sold 750 591 shares in relation with the company's share purchase programme for employees. Following the transaction, Kværner ASA holds a total of 2 157 040 own shares. The price was based on the average volume weighted share price on Oslo stock exchange over the five days period from 27 November to 1 December 2017 giving a price per share of NOK 15.3919.

More than 2 300 employees in Norway were invited to participate in Kvaerner's fourth 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 NOK 1 500 in addition to a price reduction of 25 percent on the share price. The shares purchased by the employees through the programme are subject to a three year lock-up period from the date of delivery.

Attached is an overview of the primary insiders' share purchases in connection with the programme.

ENDS

For further information, please contact:

Investor Relations:
Ingrid Aarsnes, VP Investor Relations & Communications, Kvaerner, +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. 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 2 600 HSSE-focused and experienced employees are recognised for delivering some of the world's most amazing and demanding projects.

In 2016, Kvaerner's Field Development segment had consolidated annual revenues of more than NOK 10 billion and the company reported an order backlog at 30 September 2017 of NOK 8.2 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com.