Electromagnetic Geoservices ASA

EMGS - Board of directors approves audited financial statements and annual report for 2024

The board of directors of Electromagnetic Geoservices ASA ("EMGS" or the

"Company") has today approved EMGS' 2024 annual financial statements and annual

report. There are no material changes to the financial statements compared to

the preliminary and unaudited full year results presented by the Company on 10

February 2025.

EMGS' annual report for 2024 is enclosed to this stock exchange notification.

Based on ongoing dialogue, it is the Company's understanding that bondholders in

the Company's outstanding convertible bond issue, whom in aggregate represent a

sufficient majority to approve an extension of the maturity of the bond loan,

intend to vote in favour of such an extension at a bondholders' meeting to be

summoned for that purpose.

The annual report will be published in European Single Electronic Format (ESEF)

on or about Tuesday 29 April 2025.

Contact

Anders Eimstad, Chief Financial Officer, +47 948 25 836

This information is published in accordance with the Norwegian Securities

Trading Act § 5-12.

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. CSEM technology can also be used to detect the

presence of marine mineral deposits (primarily Seabed Massive Sulphides) and

EMGS believes that the technology can also be used to estimate the mineral

content of such deposits. The Company is undertaking early-stage initiatives to

position itself in this future market.

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