Fjord Defence Group ASA

Share Issue/Capital Change • Oct 21, 2021

Carbon Transition ASA – new share capital registered

Carbon Transition ASA – new share capital registered

Oslo, 21 October 2021

Reference is made to the stock exchange announcement by Carbon Transition ASA (the "Company") on 15 October regarding notice to EGM and approval of a private placement of new shares in the Company.

The share capital increase with respect to tranche 1 in the private placement has now been registered in the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret). The Company's new share capital is NOK 234,104,255 divided into 234,104,255 shares, each with a nominal value of NOK 1.00.

Contacts

Ronny Bøhn, CEO

Ronny.Bohn@axxisgeo.com

+47 905 58 517

Nils Haugestad, CFO

Nils.Haugestad@axxisgeo.com

+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 both an ocean-bottom seismic contract business and a multi-client data library.

More information on www.axxisgeo.com

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