Magnora ASA

SEVAN MARINE ASA: Notice of Annual General Meeting

The Board of Directors of Sevan Marine ASA has convened the

Annual General Meeting in Sevan Marine ASA on Wednesday 24

May 2017, at 10:00 a.m. (CET) at the Company's offices in

Verkstedveien 3, 0277 Oslo, Norway.

Attached as appendices to this announcement are (in

Norwegian and translation into English):

- Notice of the Annual General Meeting

- Attendance slip and proxy form

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

- Proposal from the Nomination Committee

- Statement from the Board of Directors regarding

determination of salary and other benefits for Senior

Management

- Information to the shareholders regarding the Annual

General Meeting

The documents are also available at the web site of Sevan

Marine ASA; www.sevanmarine.com.

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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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