Electromagnetic Geoservices ASA

Capital/Financing Update • Apr 20, 2018

Denne melding til obligasjonseierne er kun utarbeidet på engelsk. For informasjon vennligst kontakt Nordic Trustee AS

To the bondholders in:

ISIN NO 001 0682537

FRN Electromagnetic Geoservices ASA Senior Unsecured Callable Bond Issue 2013/2016

Oslo, 20 April 2018

Exercise of Call Option

Nordic Trustee AS acts as bond trustee (the "Bond Trustee") for the holders of bonds in the abovementioned bond issue with ISIN NO 001 0682537 (the "Bond Issue") issued by Electromagnetic Geoservices ASA (the "Issuer") pursuant to the bond agreement dated 18 June 2013 (as amended under the amendment agreement dated 22 December 2015 (the "Bond Agreement").

The Issuer has in accordance with a letter to the Bond Trustee on 20 April 2018 notified that the Issuer will exercise the Call Option in accordance with clause 10.2 of the Bond Agreement to redeem the entire Bond Issue.

Record Date:	5 June 2018
Settlement Date:	7 June 2018
Call Price:	103 % of par value plus accrued interest

Bondholders requesting further information may contact Nordic Trustee AS.

Yours sincerely

Nordic Trustee AS

down Lars Erik Lærum