Stock Exchange Notice
Date: 21 February 2019

GC Rieber Shipping: Shearwater GeoServices and TGS partner for major Brazil survey

GC Rieber Shipping ASA's 20% owned geoservices company Shearwater GeoServices ("Shearwater") is pleased to announce the award of a major exploration survey in Brazil by TGS. The project will be executed by the Amazon Warrior using proprietary Q technology starting in Q1 2019.

"Shearwater and TGS have a long-established relationship and we are very pleased to develop this partnership further. Shearwater's Amazon Warrior is equipped with industry leading single sensor Qmarine technology and will provide TGS and their clients with a powerful and effective platform for the survey, ideally suited to environmental conditions offshore Brazil", said Irene Waage Basili, the CEO of Shearwater GeoServices.

"TGS is pleased to continue the good cooperation with Shearwater. The use of their Qmarine technology, combined with TGS processing, will ensure the highest quality of data being delivered to our customers," states Kristian Johansen, CEO of TGS.

The 11,200 km2 survey is expected to last approximately 8 months including transits.

The Amazon Warrior has a unique vessel design created, in its entirety, for the purpose of high-capacity seismic acquisition. The vessel is one of two Amazon class vessels in Shearwater's fleet, designed from scratch to deliver a safe, efficient, and stable performance during all seismic operations. The vessel is equipped for world-wide operations ranging from harsh artic environments, to South Atlantic conditions where the stable vessel design enables low noise data to be acquired through an extended operational window.

For further information:
Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184
Irene Waage Basili, CEO, Shearwater GeoServices, phone: +47 900 98 688

About GC Rieber Shipping:
GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management and project development within the segments subsea, ice/support and marine seismic.

The group has a specialized competence in offshore operations in harsh environments as well as design, development and maritime operation of offshore vessels. GC Rieber Shipping currently operates 11 and has direct and indirect ownership in 23 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments.

The company has its headquarter and a ship management office in Bergen, and an additional ship management company in Yuzhno-Sakhalinsk (Russia). The Company is listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-shipping.com.

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