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2016-05-13

Polarcus Limited: Grant of employee share options

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces that the
Board of Directors on 12 May 2016 granted 14,175,000 share options to certain
employees according to the Company's 2016 share option plan of which the main
terms were approved in the Company's 2016 Annual General Meeting on 12 May
2016.

The awarded share options (the "Options") have an exercise price of NOK 0.81
being the volume weighted average price for which the Polarcus shares (the
"Shares") have been traded at Oslo Stock Exchange in the period of 30 trading
days prior to 12 May 2016.

The Options are exercisable in three equal tranches (two years, three years
and four years after grant), and expire seven years after grant.

The exercise of the Options is conditional upon the 30 days' volume weighted
average price of the Share exceeding the exercise price by at least 30% at
one time during the exercise period.

The share options awarded to the primary insiders and their new holdings are
included on the attached.

Contacts

Rod Starr, CEO
+971 4 436 0800
rod.starr@polarcus.com

Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com

About Polarcus

Polarcus (OSE: PLCS) is an innovative marine geophysical company with a
pioneering environmental agenda, delivering high-end towed streamer data
acquisition and imaging services from Pole to Pole. Polarcus operates a fleet
of high performance 3D seismic vessels incorporating leading-edge maritime
technologies for improved safety and efficiency. Polarcus offers contract
seismic surveys and multi-client projects with advanced onboard processing
solutions and employs nearly 500 professionals worldwide. The Company's
principal office is in Dubai, United Arab Emirates. For more information,
visitwww.polarcus.com

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

Insider share options
http://hugin.info/151377/R/2012544/745626.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Polarcus Limited via Globenewswire

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