Magseis Fairfield - Extraordinary general meeting is cancelled

March 22, 2022

(Oslo, 22 March 2022) Reference is made to announcements made by Magseis Fairfield ASA ("Magseis Fairfield" or the "Company") on 18 February, 25 February and 1 March 2022 regarding a request for an extraordinary general meeting (EGM) made by a shareholder group.

The shareholder group and the Company have come to an agreement on how to safeguard Magseis’ interests in the arbitration case that the Company has initiated against Fairfield Industries Inc. Due to this agreement the shareholder group has withdrawn the EGM request, and the EGM scheduled for 22 March 2022 has therefore been cancelled.

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

For further information, please contact:

André Bjørvik, SVP Corporate Communication
Tel: +47 907 42 746
Email: andre.bjorvik@magseisfairfield.com

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Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS) technology and data acquisition projects. The company has a flexible business model with full scale node operations, as well as lease and sale models. The Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined with handling systems and source technology enables market leading deployment speed and highly cost-efficient acquisition of data with exceptional quality.