Electromagnetic Geoservices ASA

EMGS: Mandatory notification of trade

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR

INDIRECTLY, TO U.S. NEWS WIRE SERVICES, IN OR INTO THE UNITED STATES, AUSTRALIA,

CANADA, JAPAN, HONG KONG, SINGAPORE OR ANY OTHER JURISDICTION IN WHICH THE

DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE

AN OFFER TO BUY, SELL OR SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.

PRIMARY INSIDER NOTIFICATION:

Reference is made to the stock exchange notifications published by

Electromagnetic Geoservices ASA ("EMGS" or the "Company") pertaining to the

Comprehensive Refinancing, including the stock exchange notifications published

on 16 April 2018 and 19 April 2018.

On 23 April 2018, Laburnum AS ("Laburnum"), an entity controlled by Eystein

Eriksrud, Chairman of the board of directors of the Company and a primary

insider, made the following subscriptions:

1. A subscription (including oversubscription) for 150,000 new shares in the

Rights Issue at the Rights Issue subscription price of NOK 2.45 per new share.

Following this subscription, Laburnum holds zero (0) Rights Issue Subscription

Rights.

2. A subscription for 200 convertible bonds in the Bond Issue, at the Bond Issue

subscription price of USD 100 per bond (corresponding to an aggregate

subscription in the Bond Issue of USD 20,000).

Prior to the Rights Issue subscription and the allocation, issuance and delivery

of the new shares subscribed for, Laburnum holds 178,013 of the issued and

outstanding shares in EMGS.

An updated overview of the total holding of shares and bonds will be published

following the completion of the Rights Issue and the Bond Issue.

This information is subject of the disclosure requirements pursuant to section

4-2 of the Norwegian Securities Trading Act.

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