Wednesday 30 September 2020

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) refers to its announcement dated 10 September 2020 regarding the redelivery of Ivan Gubkin (the “I.G.”, previously “Polarcus Amani”).

Sovcomflot completed the redelivery process for the I.G. on 25 September 2020. The vessel has been renamed Polarcus Amani and will remain stacked in Lyngdal, Norway until market conditions support reactivation.

Sovcomflot continues to evaluate seismic acquisition opportunities for the vessel in 2021. Polarcus is assessing opportunities for Polarcus Amani as a source vessel and/or streamer vessel in the international market.