Reference is made to the stock exchange announcement made by Sevan Marine ASA (the “Company”) on 24 May 2018 regarding the annual general meeting for 2018 (the “AGM”).

The Norwegian Register of Business Enterprises (the “NRBE”) has today announced in the public gazette the AGM’s resolution on the reduction of the Company’s share capital (from NOK 210,427,996 to NOK 183,598,427). Accordingly, the six weeks creditor notice period has today commenced and will expire on 16 July 2018. The distribution of NOK 26,303,499.50 (NOK 0.5 per share) will be made to the Company’s shareholders as of the date the board files for completion of the share capital reduction with the NRBE after the expiration of the creditor notice period on 16 July 2018.

For further details on the share capital reduction, please see item 15 of the minutes of the AGM, attached to the Company’s announcement made on 24 May 2018.

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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@magnoraasa.com
+47 415 08 186

This stock exchange announcement is made pursuant to section 5-2 of the Norwegian Securities Trading Act.