Argeo AS

Earnings Release • Nov 10, 2021

Argeo AS: Business progress and commercial expansion according to plan

Argeo AS: Business progress and commercial expansion according to plan

November 10, 2021: - Argeo is progressing well. We are on track with our operations, technical development and our commercial expansion is proceeding according to plan, says Trond Crantz, CEO of Argeo.

Growing interest on all business areas

- Our commercial team is experiencing global interest for our robotic solutions across all Argeo’s business areas with strong leads for both our Hugin and SeaRaptor AUV’s in the quarter, Trond continues. As communicated earlier this year, the delivery and testing of the ordered SeaRaptor AUV’s are on schedule for delivery in Q4-2021.

Building a strong organisation

In Q3 the company onboarded crucial new resources within operations, sales and marketing and technical development, including 3 AUV crews. - Establishing a new company require successful recruitment of both young talent and experienced personnel willing and able to deliver high quality services globally, says Crantz. It is therefore very pleasing to see that Argeo proves to be an attractive employer with most of our onboarding in place for 2022.

Presentation and webcast

Argeo will host a presentation and a webcast to discuss the company's Q3 results on Wednesday, 10th November 2021, at 10:00 CEST. There will be a Q&A session following the presentation.

The presentation will be hosted by:

Trond Figenschou Crantz, CEO

Odd Erik Rudshaug, CFO

To access the webcast please register on the following link: https://attendee.gotowebinar.com/register/7161997060647778829

For further information, please contact:

Trond F. Crantz, CEO

Mobile: + 47 976 37 273

About Argeo AS:

Argeo is a 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, these autonomous underwater vehicles (“AUV’s”) will significantly increase efficiency and imaging quality in addition to contribute to substantially reduce CO2 emissions from operations for this global industry. The company’s highly accurate digital models and digital twin solutions are based on geophysical, hydrographic, and geological methods from shallow water to the deepest oceans for market segments in Infrastructure, Offshore Wind, Oil & Gas and Deep-Sea Minerals. Argeo was established in 2017 and has offices in Asker and Tromsø, Norway. Since the start-up, Argeo have carried out complex projects for some of Norway’s largest companies in the field. www.argeo.no

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