Fjord Defence Group ASA

DISCLOSURE OF TRANSACTIONS BY PDMRS AND PCAS

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	AS Saturn
2	Reason for the notification
a)	Position/status	Close associate of Jon Asbjørn Bø (CEO)
b)	Initial notification or amendment	Initial notification
3	monitor	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
a)	Name	Fjord Defence Group ASA
b)	LEI code	5967007LIEEXZXKC2G83
4		Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument	— Shares — ISIN NO 0013647693
	Identification code
b)	Type of transaction	Redelivery of borrowed shares
c)	Price(s) and volume(s)	(i) Price(s)	(ii) Volume(s)
		NOK 0.00	1,799,780
d)	Aggregated information
	— Aggregated volume	– 1,799,780 shares
	— Price	– NOK 0.00
e)	Date of the transaction	2025-12-29
f)	Place of the transaction	XOFF – Outside of trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	AS Saturn
2	Reason for the notification
a)	Position/status	Close associate of Jon Asbjørn Bø (CEO)
b)	Initial notification or amendment	Initial notification
3	monitor	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
a)	Name	Fjord Defence Group ASA
b)	LEI code	5967007LIEEXZXKC2G83
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument	— Shares
	Identification code	— ISIN NO 0013709089
b)	Type of transaction	Redelivery of borrowed shares
c)	Price(s) and volume(s)	(i) Price(s)	(ii) Volume(s)
		NOK 0.00	1,095,043

d)	Aggregated information
	— Aggregated volume	– 1,095,043 shares

	— Price	– NOK 0.00

e)	Date of the transaction	2025-12-29
f)	Place of the transaction	XOFF – Outside of trading venue