Fjord Defence Group ASA — M&A Activity 2022

Apr 1, 2022

Carbon Transition announces completion of closing conditions related to the divestiture of its seismic node on a rope business

Carbon Transition announces completion of closing conditions related to the divestiture of its seismic node on a rope business

Oslo, 1 April 2022

Further to the announcement on 3 March 2022 (https://newsweb.oslobors.no/message/555462) where Carbon Transition informed of the agreement to sell its seismic node on a rope business to Magseis Fairfield ASA, the company is pleased to report that all closing conditions to the agreement have been satisfied and the transaction has been completed.

For further information, please contact:

Nils Haugestad, Interim CEO & 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 a multi-client seismic data library.

More information on www.carbn.no