Argeo AS

Related Party Transaction • Oct 19, 2023

Argeo AS: Notification of transactions by primary insiders and their close associates

Argeo AS: Notification of transactions by primary insiders and their close associates

Asker, 19 October 2023. Reference is made to the stock exchange release from Argeo AS ("Argeo" or the "Company") (Euronext Growth: ARGEO) published on 19 October 2023 regarding the successful completion of a private placement of 78,125,000 new shares in the Company, at a subscription price of NOK 3.20, raising NOK 250 million in gross proceeds (the "Private Placement").

Argeo has received the following notifications of transactions from persons discharging managerial responsibilities and their close associates following the Private Placement:

• Redback AS, a company closely related to chair of the board, Jan P. Grimnes, was allocated a total of 625,000 shares.

• Kistefos AS, a company closely related to board member, Lars Petter Ottem Utseth, was allocated a total of 16,250,000 shares.

The notifications concerning the above transactions in the Private Placement are attached hereto.

Disclosure regulation.

This information is subject to the disclosure requirements pursuant to the Company's continuing obligations as a company listed on Euronext Growth Oslo and the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 19 number 3.

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.