Fjord Defence Group ASA

Capital/Financing Update • Apr 21, 2021

Axxis Geo Solutions ASA - Summons to bondholders' written resolution

Axxis Geo Solutions ASA - Summons to bondholders' written resolution

Lysaker, 21 April 2021

Reference is made to the announcement dated 7 April 2021, which amongst others disclosed the final proposal for the company reconstruction pursuant to the court protected reconstruction process (the "Reconstruction Plan").

Axxis Geo Solutions ASA has today requested Nordic Trustee AS to summon for a bondholders' written resolution under the Axxis Geo Solutions ASA 8.00% senior secured USD 35,000,000 bonds 2020/2022 (ISIN NO 001 0887383) to, among others, approve the Reconstruction Plan and the redemption of all outstanding bonds, see the attached summons with request for a bondholders’ written resolution.

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.