Magnora ASA

Major Shareholding Notification • Jun 29, 2018

Disclosure of large shareholdings - proxies received in connection with EGM

Disclosure of large shareholdings - proxies received in connection with EGM

Mr. Fredrik D. Sneve has of today received proxies without voting instructions for 15 289 474 shares at the extraordinary general meeting of Sevan Marine ASA on 6 July 2018 (the "EGM"), representing approx. 29,06% of the total number of shares and votes in the company.

In addition, Mr. Fredrik D. Sneve is Managing Director of the companies F2 Funds AS and Financial Funds AS which jointly holds 2 272 958 shares in Sevan Marine ASA, representing approx. 4,3% of the total number of shares and votes in the company. Accordingly, Mr. Fredrik D. Sneve controls or through proxies has discretion to vote for 17 562 432 shares at the EGM, representing approx. 33,4% of the total number of shares and votes in Sevan Marine ASA. The proxies are only valid for the EGM and will lapse immediately thereafter.

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