Polarcus Limited is a pure play marine geophysical company that provides 3D seismic services globally. It has a fleet of 8 modern, high-end 3D seismic vessels. Polarcus has an experienced management team, with the average experience being over 25 years. In 2012, Polarcus had approximately 12% of the global marine seismic market share. It aims to be the preferred provider of seismic solutions from pole-to-pole through geophysical excellence and efficient operations with a focus on safety and minimal environmental impact.

1. Polarcus Limited
Kiev, March 19, 2013
www.polarcus.com 1

2. Who we are
• Pure play marine geophysical company
– Major provider of marine 3D seismic services globally
– Full service offering via partnership with GX Technology
– Multi-client projects library offering
– ~12% market share in 2012
• Pioneering environmental agenda
– Environmentally sophisticated vessel design
– Specialized Arctic and ESSAs offering Polarcus Asima in operation offshore west Greenland
• Highly experienced team
– Average experience of management team >25 yrs.
– >500 professionals and global presence
Polarcus
launched
2008
2008 2009 2010 2011 2012
www.polarcus.com 2

3. Polarcus – a seismic major
• Major provider of marine 3D seismic services globally
• Specialized Arctic offering with incorporated technologies
• 500+ highly experienced seismic and maritime employees
• Offices in Dubai, London, Houston, Singapore, Rio and
Moscow
• Listed on Oslo Børs (OAX:PLCS); Market Cap USD~500 M
POLARCUS AMANI
• ~12% market share in 2012
Polarcus
launched
2008
2008 2009 2010 2011 2012
www.polarcus.com 3

4. Experienced management
Rolf Rønningen
CEO
Tom Henrik Sundby Peter Zickerman
CFO EVP & Head of
Strategic Investments
Christopher Griffin Paul Hanna
VP EHS&Q Senior VP HR
Eirin Inderberg Magnus Oberg
General Counsel VP IT
Christian Fenwick Trygve Reksten Phil Fontana Duncan Eley
Senior VP Senior VP Chief Geophysicist Senior VP
Corp. Marketing & Sales & Marketing Marine Acquisition
Multi-Client
Sales & Marketing Vessel Operations
Corporate Asia Pacific
Communications Geophysical Seismic Technical
QC Support
Sales & Marketing
Multi-Client Projects Americas
Geophysical Maritime Support
Sales & Marketing Marketing
Europe & Africa Crewing
www.polarcus.com 4

5. Global market coverage
Polarcus London Office Polarcus Moscow Office
Rick Donoghue Alexander Grevtsev
VP Marketing Europe-Africa VP Marketing Russia & CIS
Polarcus Houston Office
Richard Price
VP Marketing Americas
Polarcus HQ (U.A.E.)
Trygve Reksten
Polarcus Singapore Office
Senior VP Cameron Astill
Sales & Marketing
VP Marketing Asia-Pacific
Jai Pandya
Regional Sales Manager
Dave Bruce
Regional Sales Manager
Specialist markets
Additional local representation
Petter Steen-Hansen
through agents and/or marketing
Sales Manager
partnerships
www.polarcus.com 5

6. Polarcus Global market coverage
Moscow
London
Kiev
Houston Dubai HQ
Singapore
Polarcus HQ
Rio de Janeiro
Polarcus offices
Polarcus agents and/or
marketing partnerships
Polarcus representation
Polarcus – Nadra Group
under consideration
www.polarcus.com 6

7. Vision, core values & goal
Our Vision
“To be a pioneer in an industry where the frontiers of seismic exploration are
responsibly expanded without harm to our world”.
Our Core values
Responsibility for our actions, for each other, and for the
environment and the world around
Innovation in business and in operations
Excellence in delivery for shareholders and clients alike
Our 2015 Goal
“By 2015 be the preferred provider of high-end, towed marine seismic
solutions from Pole-to-Pole through geophysical excellence and highly
efficient operations with uncompromised safety and minimal environmental
footprint, thus creating long term stakeholder value.”
www.polarcus.com 7

8. Our commitment to EHS&Q
• Strong EHS&Q culture
– Top management leadership and commitment
– Foundation on Polarcus Corporate values
− Focus on risk management approach
• A pioneering environmental agenda - EXPLORE GREEN™
− New build vessels incorporating sophisticated green technologies
− Passive Acoustic Monitoring (PAM) installed on all Polarcus vessels
• Industry affiliations
− Core member of IAGC since July 2008
− Polarcus CEO serving on the IAGC Board of Directors
• Modern EHS&Q Management System
− Compliant with OGP 432 and international maritime standards
− Fully integrated seismic and maritime: „One Team‟ culture
− Certified by DNV to the following international standards;
• ISO 9001 - 2008 : Quality Management
• ISO 14001 – 2004 : Environmental Management
• OHSAS 18001 – 2007 : Occupational Health & Safety
www.polarcus.com 8

9. The Polarcus Fleet
www.polarcus.com 9

10. RIGHTSIZE, RIGHTDESIGN, RIGHTPLAN
Fleet Key Features
• All new and uniform fleet
• 8 high-end 3D seismic vessels
POLARCUS NADIA &
POLARCUS NAILA
POLARCUS SAMUR &
Vyacheslav Tikhonov
• Reduced noise and vibrations
12 Streamer 3D vessel 8 Streamer 3D vessel
• Ice class 1A/1A* (except Nadia & Naila ICE C)
• Improved transit performance
POLARCUS ASIMA & POLARCUS AMANI &
POLARCUS ALIMA POLARCUS ADIRA
12 Streamer 3D vessel 12-14 Streamer 3D vessel
www.polarcus.com 10

11. Vessel features
POLARCUS NADIA POLARCUS ASIMA POLARCUS AMANI** POLARCUS SAMUR
POLARCUS NAILA POLARCUS ALIMA POLARCUS ADIRA** POLARCUS SELMA
Type: ULSTEIN SX124 design Type: ULSTEIN SX134 design Type: ULSTEIN SX133 design
12 x 8,400m 14 x 7,200m** 8 x 6,300m
10 x 10,050m 12 x 8,400m 6 x 8,400m
8 x 12,000m 10 x 10,050m 4 x 12,000m
8 x 12,000m
Key features of vessel class Key features of vessel class Key features of vessel class
NEW BUILD: reliability, performance NEW BUILD: reliability, performance NEW BUILD: reliability, performance
DOUBLE HULL: safety & environment DOUBLE HULL: safety & environment DOUBLE HULL: safety & environment
ULSTEIN X-BOW ®: efficiency & stability ULSTEIN X-BOW ®: efficiency & stability ULSTEIN X-BOW ®: efficiency & stability
CLEAN DESIGN: low emissions CLEAN DESIGN: low emissions CLEAN DESIGN: low emissions
PROPULSION: 14 knot max speed, PROPULSION: 15 / 16 knot max speed, PROPULSION: 17 knot max speed
DP2 redundancy DP2 redundancy DP2 redundancy
ICE-1A / ICE-1A*: ARCTIC-READY ICE-1A: ARCTIC-READY
WINTERIZED BASIC: integral de-icing WINTERIZED BASIC: integral de-icing
BWM-T: no invasive species BWM-T: no invasive species
Operational Q4 2009 / Q1 2010 Operational Q3 2010 / Q1 2011 Operational Q1 2011 / Q3 2011
Q1 2012 / Q2 2012
www.polarcus.com 11

12. Awards through RIGHTDESIGN
DYNPOS-AUTR
Systems redundancy CLEAN DESIGN IMO Green Passport
with DP2 High specification
Triple – E™ exhaust catalysts
Environmental &
Energy Efficiency
Sentinel® solid streamers
ULSTEIN X-BOW ®
Improved efficiency and
reduced emissions Fuel: MGO with low
sulfur content
Double hull – no oil contact
with outer skin
Bilge water cleaning system to
reduce contaminants to <5ppm
Multiple main engines and independent
propellers in case of failure
ICE-1A or 1A* Class1
BWM-T 2
Safe Arctic operations
1 POLARCUS Removal of invasive species from ballast water
2 POLARCUS ASIMA, ALIMA, SAMUR, SELMA, AMANI & ADIRA
ASIMA, ALIMA, SAMUR, SELMA,
AMANI & ADIRA
www.polarcus.com 12

13. Technical specifications
Maritime equipment:
• Diesel electric generation: Wärtsilä
• Switch board: ABB / Wärtsilä
• Main propulsion: Schottel / Berg
• Bridge equipment: Furuno
• Dynpos-AUTR: Kongsberg
Seismic equipment:
• Acquisition system: Sercel Seal
• Streamer: Sercel Sentinel® solid
• Source supply: LMF
• Source: Bolt 1500-LL / 1900-
LLXT
Polarcus vessels are equipped with leading maritime and seismic
• Source Controller Seamap GunLink 4000
technology for high end 3D / 4D operations in a broad range of • Handling System: ODIM
operating environments.
• Navigation Control System ION ORCA
• Acoustics: ION DigiRANGE II™
• Birds: ION DigiBIRD™
• Lateral streamer control: ION DigiFIN™
www.polarcus.com 13

14. RIGHTPLAN delivers outstanding quality
• Planning starts with the geological objectives
Outstanding seismic data quality time
• RightPlan provides the geophysical solution and again, endorsed by our clients.
Now with a broadband solution offering.
• Operational excellence executes on the plan
Conventional data Broadband data
Combining Polarcus RightPlan acquisition with GXT WiBand™ processing
www.polarcus.com 14

15. Smart geophysical technology choices
Versatile 3D Point Source Design Low Noise Solid Streamers
+
High Bandwidth + High Signal to Noise
=
High Quality Seismic Data
www.polarcus.com 15

16. Maximizing weather up-time
Streamer noise characteristics
170
• Noise performance of a streamer
160 determines signal-to-noise during
IMPROVING SIGNAL TO NOISE
INCREASING STREAMER NOISE
rough weather conditions.
150
• Low streamer noise means high
signal-to-noise for the seismic data.
140
• Low signal-to-noise is a prime
dB re 1 uPa/(m/sec2)
130 reason for weather shut-downs.
• Solid streamers produce the lowest
120
noise of all seismic streamer
designs.
110
• All Polarcus vessels are equipped
100
with solid Sentinel streamers
Log10 of Frequency (Hz)
1 10 100
Data courtesy of Sercel
Solid Streamer Gel Streamer Fluid Streamer
www.polarcus.com 16

17. Full towed marine seismic capabilities
Wide-azimuth 3D
“WAZ”
Multi-azimuth 3D
“MAZ”
Classic 3D & 4D
First Pass™ 3D
Full Azimuth
Circle Shooting
HD3D & HD4D
Polarcus is high-end 3D/4D capable, including complex wide-azimuth, multi-azimuth and full-azimuth acquisition
www.polarcus.com 17

18. Business overview
www.polarcus.com 18

19. Operational Update
– Eight vessels currently in operation from Pole-to-Pole*
– > 100,000 sq.km high-end data acquired in < 3 years
– > 60 projects across full spectrum of environmental conditions
– First Arctic projects completed efficiently and without significant EHSQ incident
North Western Europe
12% West Africa
24%
East Africa
22%
Mediterranean & Black Sea
North South America
10% 28%
Asia Pacific
2%
1%
Arctic
*includes Vyacheslav Tikhonov (Polarcus Selma) on charter to Sovcomflot
www.polarcus.com 19

20. 100,000 sq.km of high end projects
First High Base- High 4D Multi- Multi- Arctic Wide /
Pass  Density line 4D density Monitor vessel vessel Operations Multi
3D 4D 3D 4D Azimuth
Monitor
Vessel +
Equipment         
Personnel +
Procedures         
Acquisition
Portfolio         
Broadband Solutions
www.polarcus.com 20

21. 60+ projects awarded from Pole-to-Pole
Current location
Awarded surveys
Polarcus Naila
Barbados Hayreddin
Polarcus Asima V. Tykhonov
Polarcus Adira
Polarcus Nadia
Polarcus Amani
Polarcus Alima
www.polarcus.com 21

22. RIGHTSIZE, RIGHTDESIGN, RIGHTPLAN
• 8 high-end 3D seismic vessel fleet
• Successful execution in true Arctic environment
• State of the art technology with complete broadband solution
• Specialized Arctic and low environmental impact offerings
• Multi-Client projects data library
www.polarcus.com 22

23. Polarcus – Nadra Group in Ukraine
www.polarcus.com 23