Spectrum ASA: Q1 2017 Financial Update Oslo, N

Oslo, Norway, 4 ^th April 2017. Based on preliminary figures for Q1 2017, Management expects to report Net Revenues of approximately USD 25 million for the quarter (USD 18 million in Q1 2016). Spectrum expects to report a cash balance of USD 17 million and secured Net Interest Bearing Debt of approximately USD 18 million as of 31 ^th March 2017. Spectrum will report 1 ^st quarter 2017 financial results 27 ^th of April 2017.

For further information please contact:

Henning Olset, CFO Mobile: +47 92 26 69 48 E-mail: henning.olset@spectrumgeo.com

Rune Eng, CEO Mobile: +47 91 57 08 45 E-mail: rune.eng@spectrumgeo.com This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.