Minutes of Kvaerner ASA’s Annual General Meeting 2020

24 March 2020 - The ordinary Annual General Meeting of Kværner ASA was held on Tuesday, 24 March 2020 at Snarøyveien 20, 1360 Fornebu, Norway.

All proposals on the agenda were adopted; cf. the notice of the Annual General Meeting that was published at Oslo Børs on 3 March 2019. Regarding item 4 on the agenda, the resolution was adopted on the basis of a proposal from a shareholder in accordance with the recommendation of the Board of Directors and the company’s administration as communicated in a stock exchange release on 19 March 2020. In the voting results on page 5-7, agenda item 4 shows the votes cast for and against the approval of the annual accounts, whereas row agenda item 4.2 shows the votes cast for and against the initially proposed dividend.

Minutes for Annual General Meeting 2020 is attached to this release and are published on www.kvaerner.com.

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For further information, please contact:

Investor relations:
Idar Eikrem, EVP & CFO, Kvaerner, +Mob: +47 950 28 363, email: ir@kvaerner.com

Media:
Torbjørn Andersen, Head of Communications & IR, Kvaerner, Mob: +47 928 85 542, email: torbjorn.andersen@kvaerner.com

About Kvaerner:
Kvaerner is a project execution specialist and a trusted advisor for our customers. We provide engineering, procurement and construction (EPC) services and deliver advanced offshore platforms, onshore plants, floating production units (i.e. FPSOs) and renewable energy solutions.

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 costumers 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 2019, Kvaerner's Field Development segment had consolidated annual revenues of NOK 9.4 billion and the company reported an order backlog at 31 December 2019 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 (http://www.kvaerner.com).

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This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.