Mandatory Notification of Trade

Polarcus Limited (“Polarcus” or the “Company”) (OAX: PLCS)

Mr. Carl Gustav Zickerman, a board member and a Primary Insider of Polarcus Limited, has on 29 April 2011 through his wholly owned company Zickerman Holding Ltd, acquired 9,980 shares at a price of NOK 6.80 per share. Following the transaction he owns 37,471,476 shares, corresponding to 9.15% of the outstanding number of shares in the Company.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)