Fjord Defence Group ASA

Legal Proceedings Report • Jun 4, 2021

Axxis Geo Solutions ASA – Reconstruction proposal legally binding

Axxis Geo Solutions ASA – Reconstruction proposal legally binding

Lysaker, 4 June 2021

Reference is made to the stock exchange release dated 3 May 2021 regarding the decision by the District Court of Ringerike, Asker and Bærum on 30 April 2021 to confirm the reconstruction proposal.

The Company received earlier today a confirmation that no appeals have been made and that the reconstruction proposal became legally binding on 1 June 2021.

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 (Axxis) is a pure-play ocean bottom node seismic company uniquely positioned to pursue both contract and multi-client seismic. Axxis 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.

Axxis is listed on EURONEXT EXPAND OSLO and traded under the ticker Axxis.

More information on www.axxisgeo.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.