Fjord Defence Group ASA

AGM Information • Jul 16, 2021

Carbon Transition ASA – (Axxis Geo Solutions ASA) - Notice to Extraordinary General Meeting on 6 August 2021

Carbon Transition ASA – (Axxis Geo Solutions ASA) - Notice to Extraordinary General Meeting on 6 August 2021

Lysaker, 16 July 2021

Reference is made to the stock exchange announcement by Carbon Transition ASA (in the process of changing the company name from Axxis Geo Solutions ASA) (the "Company") on 7 July 2021 regarding change of strategy and proposal to change the Company’s business name to Carbon Transition ASA.

The Company hereby calls for an extraordinary general meeting to be held on 6 August 2021 at the Company's offices at Strandveien 50, 1366 Lysaker at 10:00 CET, for inter alia resolving the change of business name and a reverse share split.

Due to the extraordinary situation caused by the COVID-19 pandemic, and in light of the travel and meeting recommendations and restrictions currently in place, the Company has found it necessary to urge shareholders to either vote electronically in advance or submit proxy forms prior to the meeting and to not attend the meeting in person. Please find attached the calling notice with appendices, including relevant attendance and proxy forms.

Advance votes may only be executed electronically, through the Company’s website www.axxisgeo.com (use ref.nr and pin code included in the notice) or through VPS Investor Services. In Investor Services chose Corporate Actions - General Meeting, click on ISIN.

Instructions on how to submit proxy forms are included in Appendix A of the notice.

To register your attendance, please register through the Company’s website www.axxisgeo.com or through VPS Investor Services. If you are not able to register this electronically, you may send by e-mail to genf@dnb.no, or by regular Mail to DNB Bank ASA, Registrars Department, P.O.Box 1600 Centrum, 0021 Oslo, Norway.

Furthermore, the Company will arrange for shareholders to be able to call in to the general meeting and as such participate in the meeting. Votes can not be cast over telephone. The call-in details are as follows: +47 21 40 21 36, conference ID: 231 046 35#.

Contacts

Bjørn Gisle Grønlie, Chairman

gisle.gronlie@gmail.com

+ 47 917 51 194

Ronny Bøhn, CEO

Ronny.Bohn@axxisgeo.com

+47 905 58 517

Nils Haugestad, CFO

Nils.Haugestad@axxisgeo.com

+47 977 04 439

About Carbon Transition ASA (in the process of changing the company name from Axxis Geo Solutions ASA)

Carbon Transition ASA ("CT") is an investment company listed on EURONEXT EXPAND OSLO. CT has a focus towards investing in companies and technologies engaged in the "energy transition" area, which contribute to significant reductions of carbon emissions. CT may also invest more broadly in the "energy transition" space. CT has a legacy OBN seismic business operating under the name Axxis Geo Solutions, with both a node-technology seismic contract business, and a multiclient library. This business unit is categorized as an investment, and revenues generated from this business unit may be invested in the “energy transition” area.

More information on www.axxisgeo.com

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