Asker, 7 March 2025: Reference is made to the stock exchange announcement
published by Argeo ASA ("Argeo" or the "Company") on 12 February 2025 regarding
the successful private placement of new shares in the Company (the "Private
Placement") and stock exchange announcement on 6 March 2025 regarding the
completion of the extraordinary general meeting.  

Kistefos AS ("Kistefos") holds 8,901,057 shares in the Company, representing
approx. 16,69% of the issued share capital and votes prior to completion of
tranche 2 in the Private Placement. Following registration of the share capital
increase pertaining to tranche 2, Kistefos will hold 12,657,720 shares in the
Company, representing approx. 20.04% of the issued share capital and votes in
the Company.

Kistefos AS has today lent 6,118,337 of its 8,901,057 shares held in the Company
today to Pareto Securities AS and SpareBank 1 Markets AS (the "Managers") under
a share lending agreement in connection with the Private Placement to facilitate
for DVP settlement of trance 2. The remaining 2,782,720 shares (not including
the shares to be issued and delivered to Kistefos as part of tranche 2),
represent 5.22% of the shares and votes in the Company (not reflecting the share
capital increase pertaining to tranche 2). Consequently, Kistefos' shareholding
in the Company resulting from the share lending has fallen below the 15 and 10%
threshold pursuant to Section 4-2 (1) of the Norwegian Securities Trading Act.

This information is subject to the disclosure requirements pursuant to Section
4-2 and 5-12 of the Norwegian Securities Trading Act and Euronext Oslo Rule Book
II. 

For more information, please contact: 
Trond Figenschou Crantz, CEO 
Email: [email protected] 
Phone: +47 976 37 273 

About Argeo ASA
Argeo is a comprehensive subsea service provider, operating across three major
sectors: Oil & Gas, Marine Minerals, and Renewables. The Company offers a unique
package that integrates robust vessels, state-of-the-art autonomous underwater
vehicles (AUVs), advanced sensors, digital imaging technology, and an intuitive
digital platform designed to collect and visualize complex data.  

With their own vessels and high-performance AUVs, Argeo delivers fast and
flexible full-lifecycle services, including survey, inspection, maintenance, and
repair, aimed at improving efficiency and reducing the carbon footprint for
global, industry-leading clients. Founded in 2020, Argeo has established offices
in Asker (Oslo), Edinburgh, Houston, and Rio de Janeiro. The Company is listed
on Euronext Oslo Børs under the ticker: ARGEO. 

Please visit www.argeo.no for more information.

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