Electromagnetic Geoservices ASA

Capital/Financing Update • May 22, 2018

EMGS: Result of voluntary bond buy-back offer

EMGS: Result of voluntary bond buy-back offer

Reference is made to the stock exchange notification published by

Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 14 May 2018

announcing the voluntary buy-back of bonds (the "Bond Buy-Back") under bond

issue described as FRN Electromagnetic Geoservices ASA Senior Unsecured Callable

Bond Issue 2013/2016, with ISIN NO 001 0682537 (the "Existing Bond Issue").

The offer period under the Bond Buy-Back expired today, 22 May 2018.

Under the Bond Buy-Back, the Company received offers for, and has repurchased

for immediate discharge, bonds with a total aggregate nominal value of NOK

112,004,425. The repurchased bonds were repurchased at the Bond Buy-Back offer

price of 103% of the par value of each bond, plus accrued but unpaid interest up

until, but not including, the settlement date under the Bond Buy-Back.

The remaining bonds under the Existing Bond Issue will, in accordance with the

Company's call option notice of 20 April 2018, be settled in full on 7 June

For further information, please contact:

Hege Veiseth, CFO, +47 99 21 67 43

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

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This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.