Fjord Defence Group ASA

Report Publication Announcement • May 7, 2024

Aquila Holdings announces Q1 2024

Aquila Holdings announces Q1 2024

Oslo, 7 May 2024

EVENTS DURING THE QUARTER

• Multi-client revenues USD 2.3 million

o Late sales USD 1.1 million

o Utsira reprocessing USD 1.2 million

• Fair value of multi-client library USD 29.5 million

• Fair value of investment portfolio USD 5.7 million

• Available liquid funds of USD 8.7 million*

• Cash earnings (loss) for the quarter USD 0.3 million**

• Net asset value NOK 1.77 per share

* Bank deposits, net trade receivable and marketable securities

** Revenue, cost of sales, SG&A

A corresponding investor presentation will be held today at 08:30 CET (Norwegian time) in the office premises at Askekroken 11, 0277 Oslo. The presentation is open to the public.

A pre-recorded presentation of the results featuring Interim CEO and CFO, Nils Haugestad, is available at www.aquilaholdings.no.

The first quarter 2024 report and presentation will be available at Aquila Holdings ASA (www.aquilaholdings.no) and Oslo Stock Exchange (www.newsweb.com).

For further information, please contact:

Nils Haugestad

Interim CEO & CFO

nils.haugestad@aquilaholdings.no

+47 977 04 439

About Aquila Holdings

Aquila Holdings ASA ("AQUIL") is a Norwegian seismic multi-client and investment company listed on Euronext Expand. Aquila Holdings specializes in 3D ocean bottom node seismic multi-client data for near-field exploration. The company holds two key seismic multi-client assets, one in Norway and one in Egypt. Aquila Holdings also has an investment arm, with focus on investments in listed companies as well as companies expected to be listed.

More information on www.aquilaholdings.no

This information is made public in accordance with the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.