Magnora ASA

SEVAN MARINE ASA: Minutes from Annual General Meeting

Sevan Marine ASA has today on May 24, 2017, held its Annual

General Meeting. All the proposals from the Board of

Directors to the General Meeting were approved. Attached to

this announcement are the minutes of the Annual General

Meeting in Norwegian and translation into English.

THE BOARD OF DIRECTORS

The shareholder-elected members to the Board of Directors,

elected by the General Meeting for a period of one year, are:

Erling Øverland (Chairman, re-elected)

Peter Lytzen (Director, re-elected)

Ingvild Sæther (Director, re-elected)

Kathryn M. Baker (Director, re-elected)

Torstein Sanness (Director, new)

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Sevan Marine ASA is specializing in design, engineering and

project execution of floating units for offshore

applications, based on its cylindrical floater technology.

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

+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.

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