Magnora ASA

Board/Management Information • May 24, 2016

SEVAN MARINE ASA: Revised Proposal from the Nomination Committee.

SEVAN MARINE ASA: Revised Proposal from the Nomination Committee.

Reference is made to the Stock Exchange notice of 23

May 2016 regarding Revised composition of the Board of

Directors.

Please find attached the Revised Proposal from the

Nomination Committee and the Curriculum Vitae.

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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