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2016-02-26

Polarcus Limited: Polarcus secures six month backlog extension

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to
announce that the Company has received multiple awards which together extend
the fleet backlog by six vessel months. The projects will be carried out by
multiple Polarcus vessels and commence in Q1 and Q2 2016.

Commenting on this latest awards, Duncan Eley, COO Polarcus, said:"Two of the
awards are extensions of current projects. Such extensions reflect
the excellent performance of our vessels and are beneficial to Polarcus as
the fleet utilization can be optimized by increasing backlog without
additional transit, which is a very positive factor in the current
challenging market."

Contacts

Tom Henrik Sundby, CFO
+971 50 708 6480
tom.sundby@polarcus.com

Hans-Peter Burlid, VP Finance&Investor Relations
+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)

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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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