Fjord Defence Group ASA

Capital/Financing Update • Dec 1, 2020

Axxis Geo Solutions ASA - Summons to bondholders' written resolution

Axxis Geo Solutions ASA - Summons to bondholders' written resolution

Lysaker, 1 December 2020

Reference is made to the announcement dated 30 November 2020, which amongst others disclosed the need for a waiver in relation to the Axxis Geo Solutions ASA 8.00% senior secured USD 35,000,000 bonds 2020/2022 (ISIN NO 001 0887383) (the "Bond Issue").

Axxis Geo Solutions ASA has today requested Nordic Trustee AS to summon for a bondholders' written resolution to grant certain waivers and amendments, see the attached summons with request for a bondholders’ written resolution.

Contacts

Ronny Bøhn, CEO

Ronny.Bohn@axxisgeo.com

+47 905 58 517

Nils Haugestad, CFO

Nils.Haugestad@axxisgeo.com

+47 977 04 439

About AGS Axxis Geo Solutions (AGS) is a pure-play ocean bottom node seismic company uniquely positioned to pursue both contract and multi-client seismic. AGS specializes on delivering tailored seismic solutions and flexible project management and execution to oil and gas companies world-wide. Its operations are based on a scalable asset-light setup through chartering of vessels and nodes to complete seismic surveys. AGS is listed on Oslo Axess and traded under the ticker AXXIS. More information on www.axxisgeo.com