Polarcus secures additional backlog in Australia &

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to announce that the Company has finalized a contract for 3D marine seismic acquisition in Australia. The program will deliver a high quality broadband data-set utilizing one of the Company's highly efficient Polarcus X-bow vessels operating under the Polarcus Explore Green environmental agenda.

The project is due to commence in Q3 2017 and will run for approximately two months.

In addition, the Company has secured a 30-day extension to the West African campaign initially announced on 09 January 2017.

Commenting on the recent news flow from the Company, Duncan Eley, COO, stated: " The multiple awards announced recently are testament to our strong reputation with clients globally and our ability to secure key projects in the contract market, which is our previously stated strategy. These recent announcements provide clear visibility of our fleet through end Q3 and into Q4"

Contacts

Duncan Eley, COO +971 4 43 60 800 duncan.eley@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, visit  www.polarcus.com

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.