Fjord Defence Group ASA

Capital/Financing Update • Sep 5, 2019

Financing of market growth opportunities

Financing of market growth opportunities

Lysaker, 5 September 2019:

The pure-play ocean bottom node seismic company Axxis Geo Solutions ASA (OSE:AGS) is currently experiencing a growing interest for its Ocean Bottom Node (OBN) services and has retained ABG Sundal Collier ASA, Fearnley Securities AS and Sparebanken1 Markets AS to investigate the possibility to strengthen its financial capabilities to meet the growing demand.

With its asset light model, core competence and proprietary technology, AGS has the necessary competitive edge to pursue the market opportunities. A strong track record combined with long-term partnerships also make AGS well positioned in the current OBN market.

As AGS intends to grasp attractive opportunities in the market while also gaining the financial optionality for the addition of a second crew to meet longer term demand, AGS will in close cooperation with its advisors explore possible financing opportunities open to the company over the course of the next weeks.

Contacts

Lee Parker, CEO

Lee.Parker@axxisgeo.com

Svein Knudsen, CFO

Svein.Knudsen@axxisgeo.com

+47 906 94 170

About AGS

Axxis Geo Solutions (AGS) is a pure-play ocean bottom node seismic company uniquely positioned to pursue both contract and multi-client seismic. AGS 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.

AGS is listed on Oslo Axess and traded under the ticker AGS.

More information on www.axxisgeo.com