Argeo AS

Related Party Transaction • Dec 20, 2022

Argeo: Notification of transactions by primary insiders and their close associates

Argeo: Notification of transactions by primary insiders and their close associates

Asker, 20 December 2022: Reference is made to the stock exchange announcement published by Argeo AS (the "Company") (Euronext Growth: ARGEO) on 20 December 2022 regarding the successful completion of a private placement of 30,300,000 new shares in the Company (the "Private Placement").

Argeo has received the following notification of a transaction from persons discharging managerial responsibilities and their close associates following the Private Placement:

• Jan Grimnes (through his company Redback AS) was allocated a total of 2,500,000 shares for a price per share of NOK 1.65.

The notification concerning the above transaction in the Private Placement is attached hereto.

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.