Kværner ASA: Acquisition of own shares

4 May 2018 - Kværner ASA has today in connection with the company's incentive programme for employees purchased 170 000 own shares in the open market at an average price of NOK 17.03 per share. Following the transaction, Kværner ASA holds a total of 2 442 040 own shares.

ENDS

For further information, please contact:

Ingrid Aarsnes, VP Communications & IR, Kvaerner, Mob: +47 950 38 364, email: ir@kvaerner.com

About Kvaerner:

Kvaerner is a leading provider of engineering, procurement and construction (EPC) services, and delivers offshore installations and onshore around the world. Kværner 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 2017, Kvaerner's Field Development segment had consolidated annual revenues of NOK 7.6 billion and the company reported an order backlog at 31 March 2018 of NOK 11.1 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com.