EMGS - Board of directors approves audited financial statements and annual report for 2024

24 Apr 2025 22:15 CEST

The board of directors of Electromagnetic Geoservices ASA ("EMGS" or the
"Company") has today approved EMGS' 2024 annual financial statements and annual
report. There are no material changes to the financial statements compared to
the preliminary and unaudited full year results presented by the Company on 10
February 2025.

EMGS' annual report for 2024 is enclosed to this stock exchange notification.

Based on ongoing dialogue, it is the Company's understanding that bondholders in
the Company's outstanding convertible bond issue, whom in aggregate represent a
sufficient majority to approve an extension of the maturity of the bond loan,
intend to vote in favour of such an extension at a bondholders' meeting to be
summoned for that purpose.

The annual report will be published in European Single Electronic Format (ESEF)
on or about Tuesday 29 April 2025.

Contact
Anders Eimstad, Chief Financial Officer, +47 948 25 836


This information is published in accordance with the Norwegian Securities
Trading Act § 5-12.


About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM)
technology to support oil and gas companies in their search for offshore
hydrocarbons. EMGS supports each stage in the workflow, from survey design and
data acquisition to processing and interpretation. The Company's services enable
the integration of EM data with seismic and other geophysical and geological
information to give explorationists a clearer and more complete understanding of
the subsurface. This improves exploration efficiency and reduces risks and the
finding costs per barrel. CSEM technology can also be used to detect the
presence of marine mineral deposits (primarily Seabed Massive Sulphides) and
EMGS believes that the technology can also be used to estimate the mineral
content of such deposits. The Company is undertaking early-stage initiatives to
position itself in this future market.

More information:
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644368_2024 EMGS Annual Report.pdf