Kværner ASA: Mandatory notification of trade

16 September 2013 - Kværner ASA awarded a total of 64 261 own shares as bonus shares to qualifying employees as part of Aker Solutions' 2011 share purchase programme III. The share price of NOK 10.09 equals the volume-weighted average share price of Kværner ASA shares on the Oslo Stock Exchange Friday 13 September 2013. 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 2011 under Aker Solutions ASA.
Enclosed is the overview of bonus shares awarded to primary insiders.

ENDS

For further information, please contact:

Investor relations: Ingrid Aarsnes, SVP Investor Relations, Kvaerner, Tel: +47 67 59 50 46, Mob: +47 950 38 364

About Kvaerner:
With more than 3 000 HSSE-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 2012, the Kvaerner group had consolidated annual revenues of close to NOK 11 billion and the company had an order backlog of almost NOK 30 billion on 30 June 2013. 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.