Reference is made to the stock exchange announcement made by Kværner ASA on July 17, 2020 regarding, among other things, the contemplated merger with Aker Solutions ASA as further set out in the merger plan dated July 17, 2020 (the “merger”). The merger contemplates that Aker Solution will absorb all the assets, rights and obligations of Kvaerner and that Kvaerner is dissolved. Completion of the merger is conditional upon, inter alia, the approval by the general meetings in each of Aker Solutions and Kvaerner.

Kvaerner hereby calls for an Extraordinary General Meeting to be held on September 25, 2020 at 13:00 CET, where the approval of the merger is on the agenda. The meeting will be held at Kvaerner offices at Snarøyveien 20, 1366 Lysaker, Norway. However, due to the COVID-19 situation, shareholders are encouraged not attend physically, but instead vote electronically prior to the meeting or issue a proxy to the Chairman.

About Aker Solutions

Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of the future. Aker Solutions employs approximately 15,000 people in more than 20 countries.

About Kvaerner

Kvaerner is a project execution specialist and a trusted advisor for our customers. We provide engineering, procurement and construction (EPC) services and deliver advanced offshore and onshore installations around the world.

We have offices in seven countries and approximately 2 800 employees. Health, Safety, Security and Environment (HSSE) has the highest priority in our work, and we aim to deliver technology and solutions in a safe and sustainable way. Our passion, experience and expertise realise values for customers and societies. Kværner ASA, through its subsidiaries and affiliates (“Kvaerner”), is an international contractor and preferred partner for operators and contractors within oil and gas, renewable energy and in the field of engineering and fabrication.