Fjord Defence Group ASA

Share Issue/Capital Change • Nov 16, 2021

Carbon Transition ASA – new share capital registered

Carbon Transition ASA – new share capital registered

Oslo, 16 November 2021

Reference is made to the stock exchange announcement by Carbon Transition ASA (the "Company") on 5 November 2021 regarding the approval of a private placement of new shares in the Company, tranche 2.

The share capital increase with respect to tranche 2 in the private placement has now been registered in the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret). The Company's new share capital is NOK 239,760,117 divided into 239,760,117 shares, each with a nominal value of NOK 1.00.

Contacts

Nils Haugestad, CFO

Nils.Haugestad@axxisgeo.com

+47 977 04 439

About Carbon Transition ASA

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.