Argeo AS

Share Issue/Capital Change • Apr 25, 2022

Argeo AS: Share capital increase upon exercise of warrants registered

Argeo AS: Share capital increase upon exercise of warrants registered

Asker, 25 April 2022

Reference is made to the stock exchange announcement on 8 April 2022 from Argeo AS (the "Company") concerning the issuance of shares pursuant to the exercise of 139,337 warrants (Nw. frittstående tegningsretter) by primary insider Trond F. Crantz, the Company's CEO.

The share capital increase pertaining to the exercise of warrants has now been registered with the Norwegian Register of Business Enterprises, and the Company's share capital has increased with NOK 13,933.70. The Company's new registered share capital is NOK 4,258,080 divided on 42,580,800 shares, each with a nominal value of NOK 0.10 per share.

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 a 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 Infrastructure, Offshore Wind, Oil & Gas and Deep-Sea Minerals. Argeo was established in 2017 and has offices in Asker and Tromsø, Norway. 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".