Argeo AS

Share Issue/Capital Change • Nov 6, 2023

Argeo: New share capital registered

Argeo: New share capital registered

Asker, 6 November 2023: Reference is made to the stock exchange notices published by Argeo AS (the "Company" or "Argeo") (Euronext Growth: ARGEO) on 19 October 2023 announcing the successfully placed private placement of 78,125,000 new shares in the Company, raising gross proceeds of NOK 250 million (the "Private Placement") and on 3 November 2023 regarding the completion of an extraordinary general meeting in the Company (the "EGM").

The Private Placement consisted of one tranche of 18,002,309 new shares ("Tranche 1") and a second tranche of 60,122,691 new shares ("Tranche 2"). The board of directors resolved on 19 October 2023 to issue the shares allocated in Tranche 1 pursuant to an authorization granted to the board by the general meeting in the Company held on 15 June 2023, while the issuance of the shares allocated in Tranche 2 was subject to approval by the EGM.

On 3 November 2023, it was resolved in the EGM to approve the share capital increase pertaining to Tranche 2 of the Private Placement, which has now been registered with the Norwegian Register of Business Enterprises. The new share capital of the Company is NOK 17,251,620.40 divided into 172,516,204 shares, each with nominal value of NOK 0.10.

Disclosure regulation

This information is subject to a duty of disclosure pursuant to the Company's continuing obligations as a company listed on Euronext Growth Oslo.

For more information, please contact:

Trond Figenschou Crantz, CEO Argeo AS

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, Houston, 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 Euronext Growth Oslo under the ticker: ARGEO.

Please visit www.argeo.no for more information.