Fjord Defence Group ASA

Major Shareholding Notification • Sep 9, 2021

Declaration of Holdings – Carbon Transition ASA (ISIN: NO0010778095)

Declaration of Holdings – Carbon Transition ASA (ISIN: NO0010778095)

Tigerstaden AS hereby notifies you according to the Securities Trading Act that Pirol AS, a company controlled by Tigerstaden AS, has on Tuesday 7. September 2021 sold 250.000 shares in Carbon Transition ASA. Tigerstaden AS’ consolidated holdings in Carbon Transition ASA was thereby reduced from 10.750.000 shares (equivalent to 5,05% of the shares and votes in issue) to 10.500.000 shares (equivalent to 4,93 % of the shares and votes in issue).

The disclosure obligation was triggered by a crossing below the 5 % threshold of total number of voting rights and shares in issue in Carbon Transition ASA.

Tigerstaden AS has on 9. September 2021 purchased 250.000 shares in Carbon Transition ASA. Tigerstaden AS’ holdings in Carbon Transition ASA was thereby increased from 10.500.000 shares (equivalent to 4,93 % of the shares and votes in issue) to 10.750.000 shares (equivalent to 5,05 % of the shares and votes in issue).

The disclosure obligation was triggered by a crossing above the 5 % threshold of total number of voting rights and shares in issue in Carbon Transition ASA.

Tigerstaden AS’ position is held by one legal entity as shown below:

Legal entity Number of shares Percentage of shares / votes outstanding

Tigerstaden AS 10.750.000 5,05 %