Company presentation and selected Q4 2024 operational data

25 Feb 2025 08:30 CET

Bergen, 25 February 2025: Shearwater Geoservices AS ("Shearwater") is today
presenting at SpareBank 1 Markets 2025 Energy Conference.
Please see the attached presentation, which includes the following preliminary
operational data for the fourth quarter of 2024 and early 2025:

* Q4 average active fleet of 9.9 vessels, with 50% utilisation on the active
fleet

* Year-end contract backlog of USD 337 million, relatively flat development to
USD 333 million in February 2025

Shearwater will publish the fourth quarter 2024 report on 28 February 2025.


For further information:
Kristian Rådal, Investor Relations Manager, phone: +47 99 23 61 58

About Shearwater:
Shearwater is a global marine geoscience and technology business that
specialises in collecting data offshore. The organisation uses state-of-the
art seismic vessels and equipment to explore the seabed and processes the data
using market-leading proprietary software. These insights help clients
understand the Earth and make informed decisions about accelerating
responsible use of its resources. Shearwater's headquarters is in Bergen,
Norway, with more facilities all around the globe. The company employs around
1280 people.

More information:
Access the news on Oslo Bors NewsWeb site

639599_Shearwater SB1M Feb 2025.pdf