Argeo AS

Share Issue/Capital Change • Feb 9, 2023

Argeo: Exercise of warrants and transactions by primary insiders and their close associates

Argeo: Exercise of warrants and transactions by primary insiders and their close associates

Asker, 9 February 2023: Trond F. Crantz, CEO of Argeo AS (the "Company" or "Argeo") (Euronext Growth: ARGEO), has today exercised 139,338 warrants, each giving the right to one share in the Company. Through the exercise, the Company's share capital will increase by NOK 13,933.8 through the issue of 139,338 new shares of par value NOK 0.10. The warrants are exercised at a strike price of NOK 0.282 per share.

Following registration of the share capital increase with the Norwegian Register of Business Enterprises, the Company's share capital will be NOK 7,302,013.8, divided into 73,020,138 shares.

For further details, please see the attached form.

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 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".