Argeo AS

Share Issue/Capital Change • Mar 7, 2025

Argeo ASA – Disclosure of large shareholding

Argeo ASA – Disclosure of large shareholding

Asker, 7 March 2025: Reference is made to the stock exchange announcement published by Argeo ASA ("Argeo" or the "Company") on 12 February 2025 regarding the successful private placement of new shares in the Company (the "Private Placement") and stock exchange announcement on 6 March 2025 regarding the completion of the extraordinary general meeting.

Kistefos AS ("Kistefos") holds 8,901,057 shares in the Company, representing approx. 16,69% of the issued share capital and votes prior to completion of tranche 2 in the Private Placement. Following registration of the share capital increase pertaining to tranche 2, Kistefos will hold 12,657,720 shares in the Company, representing approx. 20.04% of the issued share capital and votes in the Company.

Kistefos AS has today lent 6,118,337 of its 8,901,057 shares held in the Company today to Pareto Securities AS and SpareBank 1 Markets AS (the "Managers") under a share lending agreement in connection with the Private Placement to facilitate for DVP settlement of trance 2. The remaining 2,782,720 shares (not including the shares to be issued and delivered to Kistefos as part of tranche 2), represent 5.22% of the shares and votes in the Company (not reflecting the share capital increase pertaining to tranche 2). Consequently, Kistefos' shareholding in the Company resulting from the share lending has fallen below the 15 and 10% threshold pursuant to Section 4-2 (1) of the Norwegian Securities Trading Act.

This information is subject to the disclosure requirements pursuant to Section 4-2 and 5-12 of the Norwegian Securities Trading Act and Euronext Oslo Rule Book II.

For more information, please contact:

Trond Figenschou Crantz, CEO

Email: trond.crantz@argeo.no

Phone: +47 976 37 273

About Argeo ASA

Argeo is a comprehensive subsea service provider, operating across three major sectors: Oil & Gas, Marine Minerals, and Renewables. The Company offers a unique package that integrates robust vessels, state-of-the-art autonomous underwater vehicles (AUVs), advanced sensors, digital imaging technology, and an intuitive digital platform designed to collect and visualize complex data. 

With their own vessels and high-performance AUVs, Argeo delivers fast and flexible full-lifecycle services, including survey, inspection, maintenance, and repair, aimed at improving efficiency and reducing the carbon footprint for global, industry-leading clients. Founded in 2020, Argeo has established offices in Asker (Oslo), Edinburgh, Houston, and Rio de Janeiro. The Company is listed on Euronext Oslo Børs under the ticker: ARGEO.

Please visit www.argeo.no for more information.

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