Issuance of restricted stock units and performance stock units

June 9, 2021

(Oslo, 9 June 2021) Reference is made to Board of Directors and Compensation and Talent Committee’s approval of compensation for the CEO and CFO.

Under this authorization, the CEO and CFO have been granted Stock Unit awards totaling 200,000 units as part of their compensation. This is comprised of 70,000 Performance Stock Units (PSUs) and 130,000 Restricted Stock Units (RSUs).

Carel Hooijkaas, CEO, is awarded 115,000 RSUs and 35,000 PSUs. Mark Ivin, CFO, is awarded 15,000 RSUs and 35,000 PSUs. These awards will vest as follows; the first vesting is upon grant of award, comprising 40% of the total award. The second vesting date is June 8 2022, comprising 40% of the total award, and the final vesting will take place on June 8 2023 for the remaining 20% of the total award.

For further information, please contact:

Mark Ivin, CFO
Tel: +47 948 88 606
Email: mark.ivin@magseisfairfield.com

Andre 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.

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