Argeo AS

Report Publication Announcement • May 9, 2023

Argeo AS – Annual Report 2022

Argeo AS – Annual Report 2022

Asker, 09 May 2023

Please find attached Argeo’s Annual Report for 2022.

The preliminary report for 2022 was presented on 16th March 2023 and included a recognition of deferred taxes in the balance sheet amounting to NOK 28.4 million. Recognition of a majority of this amount will be deferred until the Company becomes profitable. Consequently, net result for 2022 has been adjusted from minus 52.2 million to minus 76.3 million. The change has no cash effect.

For further information: Trond Figenschou Crantz, CEO, trond.crantz@argeo.no , +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 (“AUVs”) will significantly increase efficiency and imaging quality in addition to contribute 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.