Fjord Defence Group ASA

Share Issue/Capital Change • Nov 28, 2019

SHARE CAPITAL INCREASE REGISTERED

SHARE CAPITAL INCREASE REGISTERED

Lysaker, 28 November 2019

Reference is made to previous announcements regarding the subsequent offering in Axxis Geo Solutions ASA (the "Company").

The Norwegian Register of Business Enterprises has now completed the registration of the 11,081 new shares related to the subsequent offering. Following registration, the new registered share capital of the Company is NOK 82 014 806,90718218 divided into 58 821 018 shares, each with a par value of NOK 1,39431124614644.

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

Contacts

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