Investigation Launched

29 June 2015

Sevan Marine ASA (the "Company") has recently become aware of articles in the Brazilian press which refer to a former manager and agent of Sevan Marine being named in connection with the Brazilian authorities' investigation into corrupt activities involving Petrobras and Operation Car Wash ("Lava Jato").

Based on the specific content of the Brazilian press articles, including that Sevan is named, the Company has engaged the law firm Selmer to conduct an investigation. Sevan Marine ASA has offered full co-operation and has been in contact with the relevant authorities on this matter.

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.

Sevan Marine ASA press release