UPDATE ON REVISED FINANCIAL CALENDAR FOR 2017

The Board of Directors of EMAS Offshore Limited (“EOL” or the “Company”) wishes to announce that the release of FY2016 audited annual financial report is delayed pending review and finalisation which is expected to be completed within the next few days. In this regard, there will not be an announcement to be made today as previously announced on 30 November 2017.

In addition, the dates of release of 1HFY2017 and 2HFY2017 unaudited financial reports as well as the FY2017 audited financial report will be updated in due course, following the release of the FY2016 audited annual financial report and further clarity in light of the ongoing restructuring efforts of the Company and certain of its subsidiaries and would accordingly require more time to prepare.

This announcement is subject to disclosure in accordance with section 5-12 of the Norwegian Securities Trading Act and section 4.6 of the Continuing Obligations.

By Order of the Board

Lee Kian Soo

Director

6 December 2017

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