NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, INAUSTRALIA ,CANADA , THEHONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA,SOUTH AFRICA ,NEW ZEALAND ,JAPAN ,THE UNITED STATES , THEUNITED KINGDOM OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. Asker,11 April 2024 : Reference is made to the stock exchange notice published byArgeo AS (the "Company" or "Argeo") (Euronext Growth: ARGEO) on2 April 2024 regarding the registration of a national prospectus (the "Prospectus") and launch of a subsequent offering of up to 11,000,000 new shares (the "Offer Shares ") in the Company (the "Subsequent Offering"). The subscription period for the Subsequent Offering expired on11 April 2024 at 16:30 hours (CEST). By the end of the subscription period, the Company had received valid subscriptions for 24,221,754Offer Shares in the Subsequent Offering. The board has resolved that a total of 11,000,000Offer Shares will be allocated in accordance with the allocation criteria set out in the Prospectus. The Company will consequently raiseNOK 30,250,000 in gross proceeds through the Subsequent Offering. The Subsequent Offering was significantly oversubscribed. Notifications of allocatedOffer Shares in the Subsequent Offering and the corresponding amount to be paid by each subscriber will be distributed through Euronext Securities Oslo ("VPS") on or about12 April 2024 . The due date for payment of the Offer Shares is on16 April 2024 . In order for payment to take place on the payment date, applicants must ensure that there are sufficient funds on the bank account to be debited on or about15 April 2024 . Subject to due payment of the Offer Shares by the subscribers, the share capital increase relating to the Subsequent Offering is expected to be registered with theNorwegian Register ofBusiness Enterprises on or about24 April 2024 and the Offer Shares will thereafter be delivered to the VPS accounts of the subscribers to whom they are allocated on or about25 April 2024 . Trading in the Offer Shares on Euronext Growth Oslo is expected to commence on or about25 April 2024 . AdvisorsPareto Securities AS andSpareBank 1 Markets AS are acting as managers (the "Managers") in the Subsequent Offering. Advokatfirmaet Schjødt AS is acting as legal advisor to the Company. Disclosure regulation This information is subject to a duty of disclosure pursuant to the Company's continuing obligations as a company listed on Euronext Growth Oslo. For more information, please contact:Trond Figenschou Crantz , CEOArgeo AS Email: trond.crantz@argeo.no Phone: +47 976 37 273 About Argeo | www.argeo.no Argeo is an Offshore Service company with a mission to transform the ocean surveying and inspection industry by utilizing autonomous surface and underwater robotics solutions. Equipped with unique sensors and advanced digital imaging technology, the Autonomous Underwater Vehicles (AUV's) will significantly increase efficiency and imaging quality in addition to contributing to significant reduction in CO2 emissions from operations for the global industry in which the Company operates. The Company's highly accurate digital models and digital twin solutions are based on geophysical, hydrographic, and geological methods from shallow waters to the deepest oceans for the market segments Oil & Gas, Renewables, Marine Minerals and Offshore Installations. Argeo was established in 2017 and has offices in Asker (Oslo ), Tromsø,Stockholm ,Houston , andSingapore . Since its incorporation, Argeo has carried out complex projects for some ofNorway's largest companies in the field. Important notices This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. The securities referred to in this announcement have not been and will not be registered under theU.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold inthe United States absent registration or an applicable exemption from the registration requirements of the Securities Act and in accordance with applicableU.S. state securities laws. The Company does not intend to register any part of the offering or their securities inthe United States or to conduct a public offering of securities inthe United States . Any sale inthe United States of the securities mentioned in this announcement will be made solely to "qualified institutional buyers" as defined in Rule 144A under the Securities Act. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression "Prospectus Regulation" means Regulation 2017/1129 as amended together with any applicable implementing measures in any Member State. This communication is only being distributed to and is only directed at persons in theUnited Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only for relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so. The information contained in this announcement speak only as at its date, and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm, or to release publicly any revisions to the content of this announcement. Neither of the Company, the Managers nor any of their respective affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein. This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities in the Company. Neither the Company, the Managers nor any of their respective affiliates accepts any liability arising from the use of this announcement.
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