Argeo AS

Regulatory Filings • Feb 21, 2023

Argeo Searcher conversion and rigging completed

Argeo Searcher conversion and rigging completed

Asker, 21 February 2023: Argeo’s subsea vessel, Argeo Searcher, has completed a rigorous conversion & shakedown program and is now, fully equipped with both SeaRaptor AUV’s, ready to enter commercial AUV operations aligning with expanding backlog of projects.

A versatile and fuel-economic vessel rigged to meet our customer’s needs

The Argeo Searcher has been converted to cater for large scale deep-water work with dual LARS deploy- and recover systems and a complete set-up for two Autonomous Underwater Vehicles (AUVs). In addition to being an effective multipurpose AUV/ROV survey vessel the Argeo Searcher is now rigged for offshore inspection and maintenance operations with allocated space for optional ROV operations. Being equipped with diesel electric propulsion the vessel provides a fuel economic platform for Argeo’s customers projects with reduced carbon footprint.

Further completed upgrades:

• State-of-the art data & operation rooms

• Customized hangar for multi AUV and ROV systems

• Following the conversion, the vessels DP2/FMEA capabilities (Dynamic positioning and Failure Mode and Effects Analysis) and has been verified.

• Excellent cooperation with ship management partner OSM

For more information, please contact:

Trond Figenschou Crantz, CEO Argeo AS

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 (“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.