Magnora ASA

AGM Information • May 24, 2018

SEVAN MARINE ASA: Minutes from Annual General Meeting

SEVAN MARINE ASA: Minutes from Annual General Meeting

Sevan Marine ASA has today on May 24, 2018, held its Annual General Meeting.

Attached to this announcement are the minutes of the Annual General Meeting in Norwegian and translation into English. All proposals on the agenda were approved. With respect to the nomination committee's proposal on elections to the board, the general meeting resolved that the following persons are elected as members of the board for the period up to the annual general meeting in 2019:

Erling Øverland (Chairman, re-elected)

Kathryn M. Baker (Director, re-elected)

Torstein Sanness (Director, re-elected)

Astrid Jørgenvåg (Director, new)

Bjørn Sund (Director, new)

Hilde Ådland (Director, new)

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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.