Argeo AS

Share Issue/Capital Change • Feb 22, 2023

Argeo: New share capital registered

Argeo: New share capital registered

Asker, 22 February 2023: Reference is made to the stock exchange announcements published by Argeo AS (the "Company" or "Argeo") (Euronext Growth: ARGEO) on 8 and 9 February 2023 announcing (i) the final results of the subsequent offering of a total of 3,124,368 shares in the Company (the "Subsequent Offering") and (ii) the exercise of 139,337 warrants by primary insider Trond F. Crantz, respectively.

The share capital increase related to the Subsequent Offering and the exercise of warrants has today been registered with the Norwegian Register of Business Enterprises. The new share capital of the Company is NOK 7 614 450,5, divided into 76 144 505 shares, each with a 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 | www.argeo.no

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 Euronext Growth Oslo under the ticker code: "ARGEO".