Argeo AS

Capital/Financing Update • Mar 12, 2024

Argeo AS: Argeo has signed a USD 39 million contract with an international energy company

Argeo AS: Argeo has signed a USD 39 million contract with an international energy company

Asker, 12.03.2024 Reference is made to stock exchange announcement from Argeo AS ("Argeo" or the "Company") published on 16 January 2024 “Conditional Letter of Award”. Argeo is now pleased to announce having signed a USD 39 million contract with an international energy company for work offshore Africa.

The work will be carried out by Argeo Venture with commencement described in earlier announcement and occupy the vessel for the remainder of 2024. More details will be provided at a later date.

"This contract affirms our capability to provide top-tier deep-water services and highlights our strong presence within the industry” stated Argeo CEO, Trond Figenschou Crantz.

For more information, please contact:

Trond Figenschou Crantz, CEO

Email: trond.crantz@argeo.no

Phone: +47 976 37 273

About Argeo

Argeo is an Offshore Service company with a mission to transform the ocean surveying and inspection industry by utilizing autonomous surface and underwater robotics solutions. Equipped with unique sensors and advanced digital imaging technology, the Autonomous Underwater Vehicles (AUV’s) will significantly increase efficiency and imaging quality in addition to contributing to significant reduction in CO2 emissions from operations for the global industry in which the Company operates.

The Company’s highly accurate digital models and digital twin solutions are based on geophysical, hydrographic, and geological methods from shallow waters to the deepest oceans for the market segments Oil & Gas, Renewables, Marine Minerals and Offshore Installations. Argeo was established in 2017 and has offices in Asker (Oslo), Tromsø, Stockholm, Houston, and Singapore. Since its incorporation, Argeo has carried out complex projects for some of Norway’s largest companies in the field.

The company is listed on The Euronext Growth in Oslo under the ticker: ARGEO. Please visit www.argeo.no for more information.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Odd Erik Rudshaug, CFO at Argeo AS on the time and date provided.