Argeo AS

Share Issue/Capital Change • Jun 30, 2023

Argeo: New share capital registered

Argeo: New share capital registered

Asker, 30 June 2023: Reference is made to the stock exchange announcement published by Argeo AS (the "Company" or "Argeo") (Euronext Growth: ARGEO) on 29 June 2023, regarding a successful completion of a private placement (the "Private Placement") of 15,576,168 new shares in the Company (the "Offer Shares") at a price per share of NOK 2.75, raising gross proceeds of approximately NOK 43 million.

The share capital increase related to issuance of Offer Shares in the Private Placement has today been registered with the Norwegian Register of Business Enterprises. The new share capital of the Company is NOK 9,172,067.30 divided into 91,720,673 shares, each with nominal value of NOK 0.1.

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.

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 The Euronext Growth in Oslo under the ticker: ARGEO. Please visit www.argeo.no for more information.