Argeo AS

Share Issue/Capital Change • Oct 20, 2023

Argeo: Ex subsequent offering today

Argeo: Ex subsequent offering today

NOT FOR DISTRIBUTION, RELEASE OR REPUBLICATION, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, RELEASE OR REPUBLICATION WOULD BE UNLAWFUL

Asker, 20 October 2023. Reference is made to the stock exchange announcement published by Argeo AS ("Argeo" or the "Company") on 19 October 2023 announcing the completion of a private placement of new shares in the Company, raising gross proceeds of NOK 250 million (the "Private Placement") and a contemplated subsequent offering of up to 18,750,000 new shares directed towards eligible shareholders, raising gross proceeds of NOK 60 million (the "Subsequent Offering").

The shares in Argeo will be traded exclusive the right to participate in the Subsequent Offering (if resolved) as from today, 20 October 2023.

Disclosure regulations

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

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.