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Kværner ASA: Merger with Aker Solutions ASA to be completed

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. 10 November 2020 - Reference is made to the previous stock exchange announcements made by Kværner ASA (“Kvaerner”) regarding the contemplated merger with Aker Solutions ASA (“Aker Solutions”) as further set out in the merger plan dated 17 July 2020 (

KVÆRNER ASA: UPDATE ON THE CONTEMPLATED MERGER WITH AKER SOLUTIONS ASA

CORRETION: Specification in approval date for merger.   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. 9 November 2020 – Reference is made to the previous stock exchange announcements made by Kværner ASA (“Kvaerner”) regarding the contemplated merger with Aker Solutions ASA (“Aker

KVÆRNER ASA: UPDATE ON THE CONTEMPLATED MERGER WITH AKER SOLUTIONS ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. 9 November 2020 – Reference is made to the previous stock exchange announcements made by Kværner ASA (“Kvaerner”) regarding the contemplated merger with Aker Solutions ASA (“Aker Solutions”) as further set out in the merger plan dated 17 July 2020 (

Correction in revenues for the Third quarter results 2020: Strong results, increased order backlog

28 October 2020 – In an international market with corona-related volatilities, Kvaerner increased EBITDA -results, order intake and backlog during the third quarter, compared to the same period last year. Simultaneously, the company strengthened its financial platform. A positive cashflow increased the cash and bank deposits to NOK 2 029 million at the end of the quarter.In the last quarter, Kvaerner’s total revenues, including jointly controlled entities (Field Development segment) were NOK 1 836 million, compared to NOK 2 571million  in the third quarter 2019. With a corresponding

Third quarter results 2020: Strong results, increased order backlog

28 October 2020 – In an international market with corona-related volatilities, Kvaerner increased EBITDA -results, order intake and backlog during the third quarter, compared to the same period last year. Simultaneously, the company strengthened its financial platform. A positive cashflow increased the cash and bank deposits to NOK 2 029 million at the end of the quarter.In the last quarter, Kvaerner’s total revenues, including jointly controlled entities (Field Development segment) were NOK 1 836, compared to NOK 2 571 in the third quarter 2019. With a corresponding quarterly EBITDA result

Invitation to presentation of results for third quarter 2020

Important notice – In line with the new guidelines from the Directorate of Health and the Institute of Public Health regarding the Covid-19 situation the Q3 presentation will presented as a webcast only.27 October 2020 – Kværner ASA’s results for the third quarter 2020, will be published through the Oslo Stock Exchange on Wednesday 28 October 2020 at 07:00 CET. Following that, a live presentation will be held at 09:00 CET the same morning, which is made available through a webcast and a dial-in conference call only. The presentation will be concluded with a Q&A session. The webcast

Invitation to presentation of results for third quarter 2020

14 October 2020 – Kværner ASA’s results for the third quarter 2020, will be published through the Oslo Stock Exchange on Wednesday 28 October 2020 at 07:00 CET.A presentation will be held at Akerkvartalet, Oksenøyveien 10 at 09:00 CET the same morning. To attend the presentation, please register by emailing ir@kvaerner.com The presentation will be broadcast live on www.kvaerner.com and https://channel.royalcast.com/webcast/hegnarmedia/20201028_4/ at 09:00 CET. The complete 3rd quarter results 2020 presentation will be available at www.kvaerner.com and www.newsweb.no. ENDS

Minutes of Kværner ASA’s Extraordinary General Meeting 25 September 2020

25 September 2020 - The Extraordinary General Meeting of Kværner ASA was held today, 25 September 2020 at Snarøyveien 20, 1360 Fornebu, Norway. All proposals on the agenda were adopted, including approval of the merger plan dated 17 July 2020 regarding the contemplated merger with Aker Solutions ASA (the “Merger”). Please refer to previous stock exchange notices published by Kværner ASA and the Exempted Document dated 4 September 2020 for more information regarding the Merger. Minutes for Extraordinary General Meeting 2020 is attached to this release and are published on www.kvaerner.

Minutes of Kværner ASA’s Extraordinary General Meeting 25 September 2020

25 September 2020 - The Extraordinary General Meeting of Kværner ASA was held today, 25 September 2020 at Snarøyveien 20, 1360 Fornebu, Norway. All proposals on the agenda were adopted, including approval of the merger plan dated 17 July 2020 regarding the contemplated merger with Aker Solutions ASA (the “Merger”). Please refer to previous stock exchange notices published by Kværner ASA and the Exempted Document dated 4 September 2020 for more information regarding the Merger. Minutes for Extraordinary General Meeting 2020 is attached to this release and are published on www.kvaerner.com.

Announcement of final exchange ratio in relation to the contemplated merger with Aker Solutions ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. 18 September 2020 – Reference is made to the previous stock exchange announcements made by Kværner ASA (“Kvaerner”) regarding the contemplated merger with Aker Solutions ASA (“Aker Solutions”) as further set out in the merger plan dated 17 July 2020

Kvaerner contract to the upgrading of the Kollsnes onshore gas facility

17 September 2020 | Kvaerner has signed an agreement with Wood Norge for deliveries related to the upgrade of Gassco`s  gas treatment and export facility at Kollsnes at the Norwegian west coast. As a subcontract to Wood Norge, Kvaerner will primarily provide construction for new units to increase parts of the plant’s capacity to process gas. Kvaerner’s contract is worth approximately NOK 200 million, with some options for additional scope.Kvaerner’s main scope will be fabrication and installation of a new fourth processing train for processing of the MEG (monoethylene glycol) which arrives

Supplemental information

Supplemental information about Aker Solutions ASA and the combined company in relation to the contemplated mergerReference is made to the previous stock exchange notices made by Kværner ASA (“Kvaerner”) regarding the contemplated merger with Aker Solutions ASA (the “Merger”), including the notice (the “Notice”) of the extraordinary general meeting in Kværner ASA to be held on or about September 25, 2020 (the “EGM”) where approval of the Merger is on the agenda. Upon completion of the Merger, it is contemplated that Aker Solutions ASA (“Aker Solutions”) will absorb all the assets, rights

Publication of Exempted Document in relation to the Contemplated Merger with Aker Solutions ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. 4 September 2020 – Reference is made to the previous stock exchange announcements made by Kværner ASA (“Kvaerner”) regarding the contemplated merger with Aker Solutions ASA (“Aker Solutions”) as further set out in the merger plan dated 17 July 2020 (

Notice of Extraordinary General meeting - merger with Aker Solutions ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. 21 August 2020 - Reference is made to the stock exchange announcement made by Kværner ASA (“Kvaerner”) on July 17, 2020 regarding, among other things, the contemplated merger with Aker Soltuions ASA (“Aker Solutions”) as further set out in the

Contemplated merger between Kværner ASA and Aker Solutions ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. Kværner ASA (“Kvaerner”) and Aker Solutions ASA (“Aker Solutions”) have entered into a merger plan, whereby the two entities will join forces to create a new supplier company with a stronger position as a solid execution partner, enabling sustainable,

Q2 and half-year results 2020 - Outlook for growth

9 July, 2020 – Kvaerner delivers strong results for the second quarter, and the order intake establish a platform for growth in both the short and medium term. The longer-term outlook presents further key prospects in Kvaerner’s key market segments, including growth opportunities in renewable business.The market outlook again presents opportunities for gradual growth. During the second quarter, Norwegian authorities implemented a temporary adjustment to the tax regime as an incentive for oil companies to start projects. Kvaerner expects that the result will be a number of prospects where

Kvaerner improves financial results and outlook

The second quarter has developed positively for key ongoing contracts and frame conditions, compared to the situation in the first quarter when the corona pandemic started. In sum, the effect is significant improvement of financial results and outlook, compared to previous guiding.6 July 2020 - For the first quarter, margin recognition was suspended for some projects, and these effects have been reversed in the second quarter. Kvaerner expects revenues of approximately NOK 1.5 billion and EBITDA-result of about NOK 175 million for the second quarter this year (Field Development segment).

Kvaerner awarded platform recycling job

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. The assignment will at peak provide work for around 100 persons.The Aker BP operated Valhall and Hod fields have since production started in 1982 produced more than one billion barrels of oil equivalents. After the new production and accommodation platform came in 2013, some of the oil installations will be removed. Kvaerner has already started

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. Following that, a live presentation will be held at 09:00 CET the same morning, which is made available through a webcast and a dial-in conference call only. The presentation will be concluded with a Q&A session. The presentation will be web casted live, and available through a dial-in conference call. There will be a Q&A session following the presentation. The replay will be made available on the company’s website www.kvaerner.com.

Kvaerner awarded contract for HOD

9 June 2020 – Today Aker BP has awarded Kvaerner the contract for delivering the topside and steel substructure for the normally unmanned wellhead platform at the Hod field. This is the second project in the wellhead platform alliance, which was established between Aker BP, Kvaerner, ABB and Aker Solutions. The contract is an important part of Kvaerner’s strategy to be the leading supplier of cost efficient, unmanned platforms. The contract has a value of approx. NOK 1 billion for Kvaerner.“After a very demanding spring, we are very pleased that we, together with our alliance partners now

First quarter results 2020: Results negatively influenced by global pandemic

27 April 2020 – Kvaerner has in the first quarter taken several precautionary steps to safeguard employees, suppliers and local societies against the risks of the corona virus development. The financial results are negatively impacted by provisions related to covid-19. For the results in 2020 as a whole, it is too early to estimate the total effects. Kvaerner has demobilised the majority of hired-in personnel working on ongoing projects, office staff is working from home offices and several virus precautions influence daily work at the yards. Still, operations are continuing, and ongoing

First quarter results 2020 will be negatively influenced by global pandemic

24 April 2020 – Kvaerner has in the first quarter taken several precautionary steps to safeguard employees, suppliers and local societies against the risks of the Covid-19 virus development. Kvaerner has demobilised the majority of hired-in personnel working on ongoing projects, office staff is working from home offices and several virus precautions influence daily work at the yards. Still, operations are continuing, and ongoing projects are moving forward at reduced capacity. Until the uncertainty related to availability and extra costs for projects resources is concluded, margin

Correction: Invitation to presentation of results for first quarter 2020

Correction due to date error 20 April 2020 – Kværner ASA’s results for the first quarter 2020, will be published through the Oslo Stock Exchange on Monday 27 April 2020 at 07:00 CET. Following that, a live presentation will be held at 09:00 CET the same morning, which is made available through a webcast and a dial-in conference call only. The presentation will be concluded with a Q&A session. Date: Monday 27 April 2020Time: 09:00 CETLanguage: EnglishFor details on the webcast link, conference call dial-in or replay, please follow this link: https://www.kvaerner.com/investors/

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