Argeo AS

Share Issue/Capital Change • Apr 20, 2022

Argeo AS: Share capital increase registered

Argeo AS: Share capital increase registered

Asker, 20 April 2022

Reference is made to the stock exchange announcement on 8 April 2022 from Argeo AS (the "Company") concerning the successful completion of a private placement of 15,000,000 new shares (the "Private Placement").

The share capital increase pertaining to the issuance of the new shares in the Private Placement has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 4,244,146.30 divided on 42,441,463 shares, each with a nominal value of NOK 0.10 per share.

For more information, please contact:

Trond Figenschou Crantz, CEO Argeo AS

Email: trond.crantz@argeo.no

Phone: +47 976 37 273

About Argeo | www.argeo.no

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, the Autonomous Underwater Vehicles (“AUVs”) will significantly increase efficiency and imaging quality in addition to contribute 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 Infrastructure, Offshore Wind, Oil & Gas and Deep-Sea Minerals. Argeo was established in 2017 and has offices in Asker and Tromsø, Norway. Since its incorporation, Argeo has carried out complex projects for some of Norway’s largest companies in the field.

The Company is listed on Euronext Growth Oslo under the ticker code: "ARGEO".