Fjord Defence Group ASA

Capital/Financing Update • Jun 17, 2021

Redemption of bond loan

Redemption of bond loan

Lysaker, 17 June 2021

Reference is made to the stock exchange announcement of Axxis Geo Solutions ASA (the "Company") dated 27 April 2021 regarding the bondholders' adoption of the proposed resolution to approve the reconstruction plan and the redemption of all outstanding bonds under the Company's 8.00% senior secured USD 35,000,000 bonds 2020/2022 (ISIN NO 001 0887383). The Company has now completed the redemption of the bond loan through a combination of cash payments and issuance of new shares.

Contacts

Ronny Bøhn, CEO

Ronny.Bohn@axxisgeo.com

+47 905 58 517

Nils Haugestad, CFO

Nils.Haugestad@axxisgeo.com

+47 977 04 439

About AGS

Axxis Geo Solutions (Axxis) is a pure-play ocean bottom node seismic company uniquely positioned to pursue both contract and multi-client seismic. Axxis specializes on delivering tailored seismic solutions and flexible project management and execution to oil and gas companies world-wide. Its operations are based on a scalable asset-light setup through chartering of vessels and nodes to complete seismic surveys.

Axxis is listed on EURONEXT EXPAND OSLO and traded under the ticker Axxis.

More information on www.axxisgeo.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.