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Polarcus appoints Chief Operating Officer

04th June 2018

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to announce the appointment of Mr. Lars Oestergaard as Chief Operating Officer for Polarcus effective immediately.

Mr. Oestergaard will lead the Polarcus Geophysical, Operations & Sales teams as well as the EHSQ department. Mr. Oestergaard was previously employed at Maersk Drilling where he held a number of operational and commercial roles, most recently as Chief Commercial Officer.

Mr. Oestergaard has been awarded 350,000 performance share units and 150,000 restricted share units under the Company's 2018 Long Term Incentive Plan. Mr. Oestergaard currently holds no shares in the Company.

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