Electromagnetic Geoservices ASA

Major Shareholding Notification • Dec 9, 2015

EMGS - Disclosure of large shareholding

EMGS - Disclosure of large shareholding

Perestroika AS, has gained the option to cross the 10% disclosure threshold

after purchasing 14,926,843 subscription rights in Electromagnetic Geoservices

ASA (EMGS) at an average price of NOK 0.01 per subscription right.

Perestroika AS holds 18,889,449 million shares, representing 9.46% of the

registered share capital, which led to the receipt of 105,148,594.00 rights to

subscribe for new shares in the ongoing Rights Issue in EMGS. These rights has

been exercised.

The additional purchase of 14,926,843 million subscription rights triggered the

disclosure obligation. After the transaction, Perestroika holds shares and

rights to acquire shares which, if the rights are exercised, will equal 10.59%

of the share capital after completion of the Rights Issue.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1972299]