Fjord Defence Group ASA

Board/Management Information • Nov 9, 2021

Wayne Thomson has been appointed Strategic Advisor in the carbon capture area for Carbon Transition ASA

Wayne Thomson has been appointed Strategic Advisor in the carbon capture area for Carbon Transition ASA

Oslo, 9 November 2021

Carbon Transition (the “Company”) is pleased to announce the appointment of Wayne Thomson as Strategic Advisor in the carbon capture area for the Company. Mr. Thomson’s career spans more than 45 years internationally with focus on the oil and gas industry and more recently the carbon capture technology area.

Most recently and up until 2021, Mr. Thomson was Chairman of Svante Inc., the Canadian carbon capture technology company. Mr. Thomson was Chairman in a key period of Svante Inc's development and growth stage between 2015 and 2021, and also held the position as Executive Chairman for a period.

«We are very pleased to have secured Wayne Thomson as a strategic advisor for Carbon Transition. His vast international industrial and corporate development experience, will be a very valuable asset for Carbon Transition to utilise going forward. His most recent experience from being Chairman for Svante Inc., the carbon capture technology company, is very attractive for Carbon Transition in our focus on investments in the carbon capture and reduction area going forward,» says Gisle Grønlie, Chairman of the Board for Carbon Transition.

“I am looking forward to my involvement with Carbon Transition. There are very attractive investment opportunities available in technology during this very necessary carbon transition period. We must meet our energy needs at reasonable cost while reducing our carbon footprint,”

stated Wayne Thomson.

Mr. Thomson also has been on the board of directors in companies like Cenovus, Encana,and Maha Energy (Chairman), to name some of his directorships.

Mr. Thomson also served as President of Petrocorp Exploration Limited (Fletcher Challenge) in New Zealand, Vice President Production of AEC Oil and Gas, as well as the Chief Reservoir Engineer of Maersk Oil and Gas in Denmark to name some of his work experiences.

For further information, please contact:

Gisle Grønlie, Chairman of the Board

gisle.gronlie@magnoraasa.com

+47 917 51 194

Nils Haugestad, CFO

nils.haugestad@carbn.no

+47 977 04 439

About Carbon Transition ASA

Carbon Transition ASA ("CARBN") is an investment company listed on Euronext Expand. CARBN has a strategy to invest in companies and technologies which contribute to significant reductions of carbon emissions. The company may also invest more broadly in the "energy transition" space. CARBN has a legacy seismic business operating under the name Axxis Geo Solutions, with both an ocean-bottom seismic contract business and a multi-client data library.

More information on www.axxisgeo.com

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