Eidesvik Offshore — M&A Activity 2021

Jan 11, 2021

EIOF – Exercise of PUT-option for shares in Shearwater GeoServices Holding AS

EIOF – Exercise of PUT-option for shares in Shearwater GeoServices Holding AS

Reference is made to Eidesvik Offshore ASA’s ("Eidesvik") stock exchange announcement January 8, 2020 regarding completion of the sale of the seismic joint venture Global Seismic Shipping AS.

Effective January 11, 2021, Eidesvik has notified CGG SA (“CGG”) that it has decided to exercise the PUT-option for its shares in Shearwater GeoServices Holding AS (“Shearwater”) effectively selling all its shares in Shearwater to CGG for a total consideration of USD 30 million in cash. Closing of the transaction is expected by February 1, 2021.

Bømlo, January 11, 2021

Contacts:

Jan Fredrik Meling, CEO, phone no: +47 91 67 51 19

Tore Byberg, CFO, phone no: +47 47 50 90 12

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.