Magnora ASA

AGM Information • Jun 12, 2018

SEVAN MARINE ASA - Notice of Extraordinary General Meeting

SEVAN MARINE ASA - Notice of Extraordinary General Meeting

Reference is made to the stock exchange announcement made by Sevan Marine ASA (the "Company") on 8 June 2018 with regards to that Sevan Marine has entered into an agreement to divest a substantial part of its business to SembCorp Marine.

The Board of Directors of Sevan Marine ASA has convened an Extraordinary General Meeting in Sevan Marine ASA on Friday 6 July 2018, at 10:00 a.m. (CET) at the Company's offices at Lysaker Torg 12, 1366 Lysaker, Norway.

Attached as appendices to this announcement are:

- Notice of the Extraordinary General Meeting

- The Board's proposal for the resolutions to be passed

- Notice of attendance and proxy form

- Shareholders' rights, including how shareholders may participate and vote at the general meeting

- Press release from 08 June 2018 regarding transaction with Sembcorp Marine

- Presentation of the transaction with Sembcorp Marine Integrated Yard Pte. Ltd.

- Fairness opinion by KWC

- Statement from the auditor regarding proposed capital reduction

The documents are also available at the web site of Sevan Marine ASA; www.sevanmarine.com.

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Sevan Marine is a technology, design and engineering company. The company is developing, designing and delivering cost effective offshore solutions based on its unique cylindrical hull design and the HiLoad LNG offloading and regas technologies. Sevan Marine ASA is listed on Oslo Børs with ticker SEVAN. For more information, please refer to www.sevanmarine.com.

For more information please contact:

Reese McNeel, CEO, Sevan Marine ASA

reese.mcneel@sevanmarine.com

+47 415 08 186

The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs - Continuing Obligations.