Argeo AS

Earnings Release • Jul 3, 2024

Argeo AS: Half-year operational update

Argeo AS: Half-year operational update

Asker, 03.07.2024 Please find attached half-year operational update from Argeo. Highlights are outlined below.

Argeo Searcher

• Vessel Inspection: Completed intermediate planned vessel inspection in Durban

• Docking & Transit: Vessel docked out on June 26 and started transit to Trinidad & Tobago 27 June

• Crew Change: Planned crew change in Cape Town 2 July

• Arrival: Estimated arrival in Trinidad & Tobago medio-July

• Project Milestone: The Searcher will complete the Calypso project end-August

Argeo Venture

• Current Project: TotalEnergies, Namibia Venus project

• Performance: Very good

• Production Status: Ahead of schedule

• Completion Target: Maintaining earlier completion target end-of-2024

Hugin 6000/Ocean Guardian

• Mobilization & commencement: Completed mobilization for RWE and commencing production

• Project: Canopy Floating offshore wind project

• Current Phase: First phase of site investigations

• Duration: 40 days firm + 30 optional days

• Optional Days: Good likelihood of optional days taken

For more information, please contact:

Trond Figenschou Crantz, CEO

Email: trond.crantz@argeo.no

Phone: +47 976 37 273

About Argeo

Argeo is an Offshore Service company with a mission to transform the ocean surveying and inspection industry by utilizing autonomous surface and underwater robotics solutions. Equipped with unique sensors and advanced digital imaging technology, the Autonomous Underwater Vehicles (AUV’s) will significantly increase efficiency and imaging quality in addition to contributing to significant reduction in CO2 emissions from operations for the global industry in which the Company operates.

The Company’s highly accurate digital models and digital twin solutions are based on geophysical, hydrographic, and geological methods from shallow waters to the deepest oceans for the market segments Oil & Gas, Renewables, Marine Minerals and Offshore Installations. Argeo was established in 2017 and has offices in Asker (Oslo), Tromsø, Stockholm, Edinburgh, Houston, Rio de Janeiro, and Singapore. Since its incorporation, Argeo has carried out complex projects for some of Norway’s largest companies in the field.

The company is listed on The Euronext Growth in Oslo under the ticker: ARGEO.

Please visit www.argeo.no for more information.