Fjord Defence Group ASA

Major Shareholding Notification • Jun 14, 2021

Notification of trade and disclosure of shareholding

Notification of trade and disclosure of shareholding

Havila Holding AS, a closely associated company to board member and primary insider Njål Sævik, has on 11 June 2021 sold 9,803,462 shares in Axxis Geo Solutions ASA (the "Company") at an average price of NOK 0,4428 per share. Furthermore, Havila Holding AS has been allotted 4,800,000 shares in the Company in connection with the financial restructuring of the Company (the "Restructuring"), where the share capital increase has not yet been registered.

As a result, Havila Holding AS will hold 5,745,972 shares in the Company upon registration of the Restructuring. Until such registration takes place, this corresponds to 9.8% of the Company's currently registered share capital (including the new shares allotted), and after registration, it will correspond to 0.3 % of the Company's share capital.

Njål Sævik continues to hold 354,888 shares in the Company.

DISCLOSURE REGULATION

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