Fjord Defence Group ASA

Transaction in Own Shares • Sep 27, 2022

Carbon Transition repurchase of own shares

Carbon Transition repurchase of own shares

Oslo, 27 September 2022

Carbon Transition has today purchased a total of 5,263,157 of its own common shares on Euronext Expand Oslo at an average price of NOK 0.95 per share.

The shares were purchased in accordance with the approval granted at the Annual General Meeting, 25 May 2022. After this transaction, Carbon Transition holds 5,263,157 of its common shares, representing 2.2% of the number of issued shares. The shares purchased will be held as Treasury Stock.

For further information, please contact:

Nils Haugestad, Interim CEO and CFO

nils.haugestad@carbn.no

+47 977 04 439

About Carbon Transition

Carbon Transition ASA ("CARBN") is an investment company listed on Euronext Expand. CARBN has a strategy to invest in companies and technologies which contribute to significant reductions of carbon emissions. The company may also invest more broadly in other industries in listed companies as well as companies expected to be listed in the near term. CARBN has a legacy seismic business operating under the name Axxis Geo Solutions, with a multi-client data library.

More information on www.carbn.no

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.