Kværner ASA to Reform the Company’s Dividend Policy

The Board of Directors has according to the amended dividend policy proposed to distribute a dividend of NOK 0.53 in second half of 2012. This will be the starting level for the semi-annual dividend with an ambition to increase the dividend by ten percent on an annual basis.

An Extraordinary General Meeting (EGM) is scheduled for 9 October 2012 at 09:00 CET. The notice of EGM will be published and sent to all shareholders at least 21 days prior to the scheduled date for EGM. Subject to the decision of the Extraordinary General Meeting, the dividend payment will take place on or about 24 October 2012 to shareholders of record as per the date of the Extraordinary General Meeting. The share would then be traded exclusive dividend from and including 10 October 2012.

Going forward the Board of Directors’ intention is to announce the proposed semi-annual dividends in connection with the reporting of fourth quarter results and second quarter results respectively.

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