EMGS reports first quarter 2025 results

13 May 2025 20:00 CEST

Electromagnetic Geoservices ASA's ("EMGS" or the "Company") financial report and
market presentation for the first quarter of 2025 are attached.

Summary:

* The Company recorded revenues of USD 10.0 million, up from USD 0.2 million in
the first quarter of 2024 and up from USD 9.7 million in the fourth quarter of
2024.

* Adjusted EBITDA (including capitalised multi-client expenses and vessel and
office lease expenses) of USD 2.0 million, up from negative USD 3.8 million in
the first quarter of 2024.

* Free cash decreased with USD 3.1 million during the quarter, to USD 6.0
million.

* During the quarter, the Atlantic Guardian completed the first of two
proprietary acquisitions in India and commenced mobilisation for the second
proprietary acquisition.

* Subsequent to the end of the quarter, on 6 May 2025, EMGS announced the
establishment of a new business platform within offshore subsea construction
through the acquisition of the OSCV Siem Day.

A pre-recorded presentation will be available over the internet from 20:00
(local time Norway) today. To access the presentation, please go to the
Company's homepage (www.emgs.com (http://www.emgs.com)) and follow the link.

Contact
Anders Eimstad, Chief Financial Officer, +47 94 82 58 36

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.


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

646218_EMGS Q1 2025 Presentation.pdf
646218_EMGS Q1 2025 Report.pdf