Argeo AS

Investor Presentation • Aug 18, 2021

Digitalization of the ocean space

Robotics and digital solutions for the Deep-Sea Mineral market

Argeo team present here today

Trond Figenschou Crantz CEO / Founder

• 20+ years of leadership experience from Schlumberger and PGS
• Extensive technical, operational and commercial experience
• B.Sc. In Robotics and MBA

Thorbjørn Rekdal, PhD CTO

• 20+ years of leadership experience from PGS
• Head of PGS Research and Commercialization
• Chair of PGS Technology Council
• Commercialized several large technology projects
• PhD in Geophysics and M.Sc. in Applied Mathematics

Odd Erik Rudshaug CFO

• 35+ years experience from shipping and oil & gas
• Co-founder & CFO for RXT, experience from PGS and EMGS
• M.Sc. Business & Economics

Anna Lim, PhD Discipline Leader

• 10 years of research experience from international projects and Oil&Gas industry
• Expert-coordinator of Deep-Sea Mining pilot at NTNU
• 3 successful Ultradeep-water Exploration Campaigns including simultaneous multi-AUV and multi-ROV surveys
• PhD in Geophysics from NTNU

Argeo's mission

Transforming the ocean surveying and inspection industry

..by utilizing autonomous underwater and surface vehicles & unique sensor and imaging technology

..to significantly increase efficiency and quality

..and to substantially reduce the CO2 footprint for the industry

Unique imaging and modelling technology

"Faster, better, greener and at a lower cost"

Robotics and Digital solutions for the ocean space

• Data acquisition, imaging and underground modelling for large infrastructure projects
• High accuracy imaging reducing project risk and construction costs

• Wind farm design of foundations, substations etc.
• Investigation of routes for power cable
• Inspection of existing infrastructure

• Offshore field design, location of platform and subsea infrastructure
• Investigation of routes for pipelines
• Detection og damage and erosion on existing installations

• Exploration for Deep-Sea Minerals (DSM)
• Wide use of sensors and in-house technology for mineral deposits characterization, a system under development by Argeo Robotics

Technology and methods in use for the Deep-Sea Mineral "industry" today

Robotics for every offshore service requirements

Exploring and mapping the deep oceans

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A closer look at our SeaRaptor 6000

Autonomous Underwater Vehicle (AUV)

Vehicle dimensions specifics Length: 6.8 meters Weight: 1.6 tons Design: Modular Operations: 40" container

Main payload sensors

Acquiring 2.5 km2 per hr at 3-4 cm resolution, thats 60 km2 3D per day

CathX Hunter UHD Camera and laser system

Kraken minSAS sonar system

Teledyne Multibeam

Teledyne Sub-Bottom Profiler

A cluster of Environmental sensor systems

Multiple LED strobe lights

Magnetometer

In-house technology for mineral deposits characterization - Argeo Robotics

The Art of SAS

Kraken minSAS 120

-18.166730410221938 117.46582031250001
Speed:	4km
Altitude:	4m

Coloured Image

Small area sealife detection (hair level)

CathX 3D Laser and MBES

A look into the near future of Argeo operations

The Mohns (Annas) Treasure scenario

Distance from Tromsø = 510 km Roundtrip = 1020 km

onshore Mission Controlled Operation

Mohns Ridge full length is ~ 500 km

Very Long Range AUV's:

Transit capacity: 52% (1020 km) Remaining survey capacity: 980 line km 3D Survey duration 6.5 days ~ 400 KM2

No surface vessel needed, fully remote operation from Argeo Mission Control Senter

Very Long Range AUV's

Resident IMR robots

Strategic asset rollout plan taking advantage of new technology

		Key AUV specifications					Extended payload
Manufacturer/Brand	Available	Depth rating (m)	USV capable	Tracking	Endurance (Hr)	SAS	SBP	CTD	MAG	CAM/LASER	ADCP
	2020	1000			24
	Q4 2021	6000			50
	Q1 2022	6000			50
	Q1 2022 ASV/USV	Surface			720
	Q1 2022 Eelume	500			18
	Q2 2022	6000			50
	Q3 2022	6000			50
Next Gen.	2023	6000			15d

DSM value chain where are we in the project lifecycle

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DEEP REMOTE DIVERSE UNDEREXPLORED Scale is important

Deep-Sea | Seabed | Seafloor | Marine Minerals

~250 m x 250 m ~0.15 m x 0.10 m ~ 500 m x 0.25 m

Page 15

Global Exploration Licenses and Norwegian EEZ

Ferro-manganese nodules (N), Co-rich ferromanganese crusts (C) and Seafloor massive sulfides (S). Source: Petersen et al. (2016)

Value Chain for Deep-Sea Minerals

Page 17 - data at any given time and space throughout a project lifetime

Deep-Sea Minerals Project Lifecycle example

	2021	2022	2023	2024	2025	…
Initial Screening
Env. Imp. Assess
Exploration		International	Norway
Drilling & Appraisal
Mining Installation
Extraction
Decommission
Monitoring
R&D activities
Argeo's Digital Twin Solution – From Exploration to Decommission

*data in any given time and space throughout a project lifetime

DSM exploration imaging through Ultra-Deep Waters

Page 19

Autonomous Underwater Vehicles are THE tools to resolve the deposits

Is there a silver bullet?

Data Integration and Multi-Physical Approach

• - typical seafloor High-Resolution Multibeam Sonar
  • Side-Scan Sonar; MinSAS/HiSAS
  • Sub-Bottom Profiler
  • Magnetometer
  • Laser & Camera; Hyperspectral imagers
  • IIoT sensors
  • in-house technology for mineral deposits characterization developed by Argeo Robotics

A digital "time-machine" of information from complex data

Argeo's "Digital Twin" – Lifecycle data management and AI driven analysis

• Support every project from initial exploration to decommissioning
• SaaS project based business model
• No limit to data types and view points
• Allows customer to assess results in 4D (Time-Laps)

Argeos contribution to the emerging DSM market