Electromagnetic Geoservices ASA

Share Issue/Capital Change • May 19, 2017

EMGS - Key information relating to the rights issue

EMGS - Key information relating to the rights issue

This announcement is not for release, publication or distribution (directly or

indirectly) in or to the United States, Canada, Australia or Japan. It is not an

offer of securities for sale in or into the United States, Canada, Australia,

the Hong Kong Special Administrative Region of the People's Republic of China,

South Africa or Japan.

This announcement is not an offer of securities for sale in the United States.

The new shares to which this announcement relates have not been and will not be

registered under the United States Securities Act of 1933, as amended (the

"Securities Act"), and may not be offered or sold in the United States absent

registration or an exemption from registration under the Securities Act. There

will not be a public offering of shares in the United States.

Date on which the terms and conditions of the rights issue were announced: 30

March 2017

Last day including rights: 19 June 2017 (expected)

Ex-date: 20 June 2017 (expected)

Record date: 21 June 2017 (expected)

Maximum number of new shares: not yet decided

Subscription price: not yet decided

Will the rights be listed: Yes

Date of approval: 25 April 2017

Contact

Hege Veiseth, CFO, +47 992 16 743

About EMGS

EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM)

technology to support oil and gas companies in their search for offshore

hydrocarbons. EMGS supports each stage in the workflow, from survey design and

data acquisition to processing and interpretation. The Company's services enable

the integration of EM data with seismic and other geophysical and geological

information to give explorationists a clearer and more complete understanding of

the subsurface. This improves exploration efficiency and reduces risks and the

finding costs per barrel.

EMGS operates on a worldwide basis with offices in Trondheim, Oslo, Houston,

Villahermosa, Rio de Janeiro and Kuala Lumpur.

For more information, visit www.emgs.com

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

IMORTANT INFORMATION:

This announcement is not an offer to sell or a solicitation of offers to

purchase or subscribe for securities of Electromagnetic Geoservices ASA

This announcement is not a prospectus for the purposes of Directive 2003/71/EC

(as amended, together with any applicable implementing measures in any Member

State, the "Prospectus Directive"). Copies of this announcement may not be sent

to jurisdictions, or distributed in or sent from jurisdictions, in which this is

barred or prohibited by law. The information contained herein shall not

constitute an offer to sell or the solicitation of an offer to buy, in any

jurisdiction in which such offer or solicitation would be unlawful prior to

registration, exemption from registration or qualification under the securities

laws of any jurisdiction. A decision to invest in securities of Electromagnetic

Geoservices ASA referred to in this announcement should be based exclusively on

the prospectus published by Electromagnetic Geoservices ASA for such purpose.

This announcement and the information contained herein is not for publication or

distribution into the United States of America and should not be distributed or

otherwise transmitted into the United States or publications with a general

circulation in the United States. This announcement does not constitute an offer

or invitation to subscribe for or to purchase any securities in the United

States of America. The new shares referred to herein have not been and will not

be registered under the Securities Act or the laws of any state and may not be

offered or sold in the United States of America absent registration or an

exemption from registration under the U.S. Securities Act of 1933, as amended

(the "Securities Act"). There will be no public offering of the new shares in

the United States of America.

The information contained herein does not constitute an offer of securities to

the public in the United Kingdom. No prospectus offering securities to the

public will be published in the United Kingdom. This announcement is only being

distributed to and is only directed at (i) persons who are outside the United

Kingdom or (ii) to investment professionals falling within article 19(5) of the

Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as

amended, the "Order") or (iii) high net worth entities, and other persons to

whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of

the Order (all such persons together being referred to as "relevant persons").

The new shares are only available to, and any invitation, offer or agreement to

subscribe, purchase or otherwise acquire such Shares will be engaged in only

with, relevant persons. Any person who is not a relevant person should not act

or rely on this announcement or any of its contents.

Any offer of securities to the public that may be deemed to be made pursuant to

this communication in any EEA Member State that has implemented Prospectus

Directive is only addressed to qualified investors in that Member State within

the meaning of the Prospectus Directive.

This publication may contain specific forward-looking statements, e.g.

statements including terms like "believe," "assume," "expect," "forecast,"

"project," "may," "could," "might," "will" or similar expressions. Such forward-

looking statements are subject to known and unknown risks, uncertainties and

other factors which may result in a substantial divergence between the actual

results, financial situation, development or performance of Electromagnetic

Geoservices ASA and those explicitly or implicitly presumed in these statements.

Against the background of these uncertainties, readers should not rely on

forward- looking statements. Electromagnetic Geoservices ASA assumes no

responsibility to up-date forward-looking statements or to adapt them to future

events or developments.