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Board of Directors

Erling Øverland (1952)

Chairman

Mr. Øverland holds a Master Degree from the Norwegian School of Economics and Business Administration (NHH) in Bergen. He has extensive and broad experience from the oil and gas industry. He served Statoil for more than 30 years within the areas of finance, accounting, trading, retail and marketing, shipping and business development. Mr. Øverland had several corporate leadership positions in Statoil including five years as CFO and a number of years as EVP for downstream operations. He was acting CEO of Statoil ASA in 2004. Erling Øverland was elected president and chairman of the Confederation of Norwegian Enterprise (NHO) from 2004 – 2008. Erling Øverland has wide board experience and is presently chairman of Næringslivets NOx-Fond. Previous board memberships include PCI Biotech Holding ASA (chairman), Sparebank 1 SR-Bank ASA, University of Stavanger, SINTEF, Hafslund, Norges Varemesse, Sparebank 1 Livsforsikring and head of the Control Committee of Det norske Veritas. Erling Øverland is a Norwegian citizen with residence in Bærum, Norway. He is married and has three children.

Number of shares: 0 Number of share options : 0

Peter Lytzen (1957)

Board member

Mr. Lytzen is a senior executive with more than 30 years international experience within the offshore industry. Before his retirement in 2017 Mr. Lytzen was a member of the Executive Board in Teekay Offshore Partners and member of the Leadership Team in Teekay Corporation, General Partner of the Teekay Group. From 1985 to 2007 Mr. Lytzen worked in the A.P Moller Group where he held several leadership positions, latest as Vice President of Floating Production. Besides his leadership roles has Mr. Lytzen also held several board positions within the shipping and energy sector. Mr Lytzen holds a BsC in Mechanical Engineering from the Danish Technical University in Copenhagen and graduated in 1984.

Number of shares: 0 Number of share options: 0

Kathryn M. Baker (1964)

Board member

Ms. Baker holds an MBA from the Amos Tuck School of Business at Dartmouth College and a Bachelor of Arts in Economics from Wellesley College. Ms. Baker was a senior partner for 15 years in Reiten & Co, a leading Nordic private equity firm with focus on the mid-cap sector. Prior to that, she was a management consultant at McKinsey & Company in Oslo for 6 years and a financial analyst at Morgan Stanley in the late 1980s. Ms. Baker has significant experience in working through a board position to achieve greater shareholder value and build strong companies. She has served on numerous boards covering a broad range of industries (e.g. oil & gas, ITC, shipping, financial services). Currently, Ms Baker serves on the boards of Norges Bank (the Central Bank of Norway) Akastor ASA and DOF ASA, and is Chairman of Navamedic ASA and Catena Media plc. Previous board positions include Moss Maritime AS, BW Gas ASA and Bertel O. Steen Invest AS. Ms. Baker is an American citizen with residence in Oslo, Norway.

Number of shares: 10,000 Number of share options : 0

Ingvild Sæther (1968)

Board member

Ms. Sæther has completed an Executive MBA program in Shipping Management and has attended management courses at the London School of Economics, Wharton School of the University of Pennsylvania and Harvard University. She has more than 25 years of experience in the shipping and offshore industry. Ms. Sæther joined Teekay in 2002 as a result of Teekay’s acquisition of Navion AS from Statoil ASA. Since then, she held various management positions in Teekay’s conventional tanker business until 2007, when she assumed the commercial responsibility for Teekay’s shuttle tanker activities in the North Sea. In 2011, Ms. Sæther was appointed the position of President, Teekay Shuttle and Offshore Services with a responsibility for the global activities within this business area. Today, Ingvild Sæther is President and CEO of Teekay Offshore with the responsibility of Teekay’s global offshore business. Ms. Sæther is a part of the management team in the Teekay Group and is also active in several industry boards and associations. Ms. Sæther is a Norwegian citizen with residence in Stavanger, Norway.

Number of shares: 0 Number of share options : 0

Torstein Sanness (1947)

Board member

Mr. Sanness, a Norwegian Citizen residing in Norway, with extensive experience and technical expertise in the oil and gas industry. Mr. Sanness served as Managing Director of Lundin Petroleum Norway from 2004 to April 2015, whereafter he was elected Chairman of the same company until March 2017 when he moved to the board of International Petroleum Corp., another Lundin Group company. Under his leadership Lundin Norway turned into one of the most successful players on the NCS and added net discovered resources of close to a billion boe to its portfolio. Before joining Lundin Norway Mr. Sanness was Managing Director of Det Norske Oljeselskap AS. From 1975 to 2000, Mr. Sanness was at Saga Petroleum until its sale to Norsk Hydro and Statoil, where he held several executive positions in Norway as well as in the US, including being responsible for Saga’s international operations and entry into Libya, Angola, Namibia and Indonesia. Mr. Sanness is a graduate of the Norwegian Institute of Technology in Trondheim where he obtained a Master of Engineering (geology, geophysics and mining engineering). Mr. Sanness also serves as a board member for TGS, the world’s largest geoscience data company, and for Panoro Energy ASA.

Number of shares: 0 Number of share options: 0

Hans Olav Sele (1977)

Employee representative of the Board

Mr Sele has 17 years’ experience in the ship and offshore industry and is currently employed in Sevan Marine as Deputy Head of Engineering and Technology. He has worked in Sevan Marine since 2010 and he is an employee elected member of the board of directors. Mr. Sele has previously worked in Det Norske Veritas AS (now DNVGL) as a maritime technical consultant from 2001-2007 and later for the division Offshore Classification from 2007 to 2010. Mr. Sele holds a Sivilingeniør (M.Sc) in Marine Technology from Norwegian University of Science and Technology. Mr. Sele is a Norwegian citizen with residence in Oslo, Norway.

Number of shares: 0 Number of share options: 35.621

Nils Morten Lindland (1973)

Employee representative of the Board

Nils Morten Lindland has 20 years’ experience in the ship and offshore industry and is currently employed in Sevan Marine as Discipline Lead, Layout Department. He has worked in Sevan Marine since 2006 and he is an employee elected member of the board of directors. Mr. Lindland has previously worked in Det Norske Veritas AS (now DNVGL) in Technology and Products Department from 1998-2002 and later in DNV Software from 2002 to 2006. Mr. Lindland holds an exam from Sørlandet Tekniske Fagskole. Mr. Lindland is a Norwegian Citizen with residence in Arendal, Norway.

Number of shares: 40  Number of share options : 30.355