Magnora ASA

AGM Information • May 25, 2016

SEVAN MARINE ASA: Minutes from Annual General Meeting

SEVAN MARINE ASA: Minutes from Annual General Meeting

Sevan Marine ASA has today on May 25, 2016, 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 (Chairperson, new)

Peter Lytzen (Director, re-elected)

Ingvild Sæther (Director, re-elected)

Kjetil Sjursen (Director, reelected)

Kathryn M. Baker (Director, new)

B. Gisle Grønlie (Deputy Director, new)

* * * * * * * *

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.

Sevan Marine ASA is specializing in design,

engineering and project execution of floating units

for offshore applications, based on its patented

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:

Carl Lieungh, CEO, Sevan Marine ASA (Media)

+47 37 40 40 00 office

Reese McNeel, CFO, Sevan Marine ASA (Analysts)

+47 37 40 40 00 office