Milestones

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces that the Company has received two Letters of Intent from two undisclosed clients for two additional marine seismic projects offshore South America.

The projects, one 3D using Polarcus' RightBAND^TM technique for broadband data acquisition and one 4D monitoring survey, will commence in Q1 and Q2 2017 respectively. The projects are expected to have a combined duration of five vessel months.

"We are pleased to see continued success in building backlog in the South American region with two of our low environmental impact vessels," commented Richard Price, Senior Vice President, North & South America. "Since the vessels entered the region in early 2016, multiple awards such as these have enabled long-term efficient regional campaigns. We are pleased to be able to continue setting the performance standards for our industry clients in the region through the first half of 2017."