Argeo AS

Share Issue/Capital Change • Mar 21, 2024

Argeo AS: New share capital registered

Argeo AS: New share capital registered

Asker, 21 March 2024: Reference is made to the stock exchange notice published by Argeo AS (the "Company" or "Argeo") (Euronext Growth: ARGEO) on 19 March 2024 announcing the successfully placed private placement of 18,181,818 new shares in the Company, raising gross proceeds of NOK 50 million (the "Private Placement").

The board of directors resolved on 19 March 2024 to issue the shares allocated in the Private Placement pursuant to an authorisation granted to the board by the general meeting in the Company held on 15 March 2024.

The share capital increase related to the Private Placement has today been registered with the Norwegian Register of Business Enterprises. The new share capital of the Company is NOK 21,108,174.2 divided into 211,081,742 shares, each with nominal value of NOK 0.10.

Disclosure regulation

This information is subject to a duty of disclosure pursuant to the Company's continuing obligations as a company listed on Euronext Growth Oslo.

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 utilising 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 Euronext Growth Oslo under the ticker: ARGEO.

Please visit www.argeo.no for more information.