Shearwater awarded multi-year OBN contract offshore South America

Bergen, 28 September 2026: Shearwater Geoservices AS ("Shearwater") has been awarded a significant three-year ocean bottom node (OBN) seismic acquisition contract with a major oil and gas company, offshore South America.

The contract will be carried out by the SW Tasman utilising Shearwater's Pearl node technology, with the SW Gallien providing source operations during the acquisition campaign. This strategic contract spans three years and includes firm scopes in the first and the third years of the award period. In addition, the agreement includes a framework for potential award of additional projects during the contract period.

Operations are expected to commence in the fourth quarter of 2026, and to continue through 2027 with both vessels operating. The subsequent scope is expected to commence in late 2028 and continue for approximately ten months.

"This award marks a milestone for Shearwater's OBN platform consisting of our internally developed Pearl technology and our one-of-a-kind Tasman vessel design. We are proud to have secured this position in South America and look forward to continuing our contribution into the successful development of one of the world's most important offshore basins" said Irene Waage Basili, CEO of Shearwater.

For further information, please contact: Kristian Rådal, Head of Investor Relations, phone: +47 99 23 61 58

About Shearwater: Shearwater is a global marine geoscience and technology business that specialises in collecting data offshore. The organisation uses state-of-the art seismic vessels and equipment to explore beneath the seabed and processes the data using market-leading proprietary software. These insights help clients understand the Earth and make informed decisions about accelerating responsible use of its resources. Shearwater's headquarters is in Bergen, Norway, with more facilities all around the globe. The company employs around 1,000 people.

This information is information that Shearwater GeoServices is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-09-28 08:45 CEST.

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