Argeo: New share capital registered

22 Dec 2022 12:05 CET

Asker, 22 December 2022: Reference is made to the stock exchange announcement
published by Argeo AS (the "Company" or "Argeo") (Euronext Growth: ARGEO) on 20
December 2022, regarding a successfully placed private placement (the "Private
Placement") of 30,300,000 new shares in the Company (the "New Shares"), raising
gross proceeds of NOK 50 million.

The Private Placement consists of one tranche of 8,516,160 New Shares ("Tranche
1") and a second tranche of 21,783,840 New Shares ("Tranche 2"). The board of
directors resolved on 20 December 2022 to issue the shares allocated in Tranche
1 pursuant to an authorization granted to the board by the annual general
meeting in the Company held on 16 June 2022, while the issuance of the shares
allocated in Tranche 2 remain subject to approval by the extraordinary general
meeting in the Company to be held on 28 December 2022.

The share capital increase related to Tranche 1 has today been registered with
the Norwegian Register of Business Enterprises. The new share capital of the
Company is NOK 5 109 696,00 divided into 51 096 960 shares, each with nominal
value of NOK 0.10.

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, CEO Argeo 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 (“AUVs”) will significantly
increase efficiency and imaging quality in addition to contribute 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, and Singapore. Since its
incorporation, Argeo has carried out complex projects for some of Norway’s
largest companies in the field.

The Company is listed on Euronext Growth Oslo under the ticker code: "ARGEO".

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