Polarcus Limited : - Bondholder summons, Notice of Record Date and Completion Date

Polarcus Limited (in provisional liquidation) (the 'Issuer') refers to the notice of a Bondholders' Written Resolution dated 31 March 2021 in relation to the abovementioned bond issue (the 'Bondholder Summons').

Terms used and not otherwise defined in this announcement shall have the meanings given to them in the Bondholder Summons.

The Issuer hereby notifies the A Bondholders that the Record Date for the purposes of the Restructuring will be 28 April 2021.

The Issuer hereby notifies the A Bondholders that the Completion Date of the Restructuring will be 30 April 2021.

The A Bondholders are reminded that in order to receive their entitlement of HoldCo Shares on the Completion Date they must complete the steps set out in Section 3.6(ii) of the Bondholder Summons by no later than 18:00 (Oslo time) on 29 April 2021.

Any Bondholders requiring further information in relation to this announcement or the Restructuring should refer to the Bondholder Summons.

Contact:

Hans-Peter Burlid

Tel: [phone]

Email: [e-mail]

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