Fjord Defence Group ASA

Pre-Annual General Meeting Information • May 19, 2022

Carbon Transition announces amendment to notice to Annual General Meeting

Carbon Transition announces amendment to notice to Annual General Meeting

Oslo, 19 May 2022

The Board of Directors of Carbon Transition ASA hereby provides notice that it proposes an amendment to the notice to the Annual General Meeting. Under item 10 “Board authorization to acquire treasury shares”, point number two, the Board’s proposal is changed to read as follows:

2. The acquisition price shall be minimum NOK 0.50 and maximum NOK 100 per share.

For further information, please contact:

Nils Haugestad, Interim CEO & 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 the "energy transition" space. CARBN has a legacy seismic business operating under the name Axxis Geo Solutions, with both an ocean-bottom seismic contract business and 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.