EMGS: Mandatory notification of trade

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, HONG KONG, SINGAPORE OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.

PRIMARY INSIDER NOTIFICATION:

Reference is made to the stock exchange notifications published by Electromagnetic Geoservices ASA ("EMGS" or the "Company") pertaining to the Comprehensive Refinancing, including the stock exchange notifications published on 16 April 2018 and 19 April 2018.

On 2 May 2018, the primary insiders of the Company listed below made the purchases of Rights Issue Subscription Rights and subscriptions in the Rights Issue:

(1) Christian Vermeijden, CEO, purchased 40,000 Rights Issue Subscription Rights at an average price of NOK 0.15 each. Immediately thereafter, Vermeijden subscribed for 40,000 new shares in the Rights Issue at the Rights Issue subscription price of NOK 2.45.

Prior to the Rights Issue subscription and the allocation, issuance and delivery of the new shares subscribed for, Vermeijden holds zero (0) shares and 325,000 options (whereof 75,000 synthetic options) in the Company.

(2) Hege Veiseth, CFO, subscribed (including oversubscription) for 13,000 new shares in the Rights Issue at the Rights Issue subscription price of NOK 2.45.

Prior to the Rights Issue subscription and the allocation, issuance and delivery of the new shares subscribed for, Veiseth holds 1,642 shares and 1,875 options in the Company.

(3) Øyvind Greaker Bjørndal, CLC, purchased 11,000 Rights Issue Subscription Rights at an average price of NOK 0.15 each. Immediately thereafter, Bjørndal subscribed for 11,000 new shares in the Rights Issue at the Rights Issue subscription price of NOK 2.45.

Prior to the Rights Issue subscription and the allocation, issuance and delivery of the new shares subscribed for, Bjørndal holds zero (0) shares and options in the Company.

(4) Dag Helland-Hansen, Global Exploration Advisor, purchased 40,000 Rights Issue Subscription Rights at an average price of NOK 0.2193 each. Immediately thereafter, Helland-Hansen subscribed for 40,000 new shares in the Rights Issue at the Rights Issue subscription price of NOK 2.45.

Prior to the Rights Issue subscription and the allocation, issuance and delivery of the new shares subscribed for, Helland-Hansen holds zero (0) shares and options in the Company.

(5) Johan Kr. Mikkelsen, member of the board of directors of the Company, purchased 23,280 Rights Issue Subscription Rights at an average price of NOK 0.15 each. Immediately thereafter, Mikkelsen subscribed (including oversubscription) for 30,000 new shares in the Rights Issue at the Rights Issue subscription price of NOK 2.45.

Prior to the Rights Issue subscription and the allocation, issuance and delivery of the new shares subscribed for, Mikkelsen holds zero (0) shares and options in the Company.

An updated overview of the total holding of shares and bonds will be published following the completion of the Rights Issue and the Bond Issue.

This information is subject of the disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.