Fjord Defence Group ASA

Regulatory Filings • Jan 17, 2020

Update of the contract in the Middle East

Update of the contract in the Middle East

Lysaker, 17 January 2020

Reference is made to notifications from Axxis Geo Solutions ASA (AGS) dated 30 December 2019 concerning signing of a contract for 3D ocean bottom node (OBN)seismic acquisition survey in the Middle East.

The work has now commenced and will continue through most of the first quarter 2020.

The revenue stream from this contract, as well as progress made with short term creditors and suppliers, are important milestones towards the Company’s previously announced intention to strengthen its working capital position.

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

Contacts

Lee Parker, CEO

Lee.parker@axxisgeo.com

+1 832 275 7258

Svein Knudsen, CFO

Svein.Knudsen@axxisgeo.com

+47 906 94 170

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 AGS.

More information on www.axxisgeo.com