Major shareholder notification

13 Feb 2025 17:33 CET

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 and allocation of 18,750,000 new shares (the "Offer Shares") in the
Company at a subscription price of NOK 8 per Offer Share (the "Offer Price")
(the "Private Placement").

In the Private Placement, Kistefos AS ("Kistefos"), a close associate ("PCA") of
board member Lars Petter Ottem Utseth, has been allocated 3,756,663 Offer Shares
for a price per share of NOK 8. The Offer Shares allocated are part of Tranche
2, being conditional on the approval by the EGM.

In addition, Kistefos has entered into a share lending agreement in connection
with the Private Placement where Kistefos has agreed to lend up to 8,061,057
shares to Pareto Securities AS and SpareBank 1 Markets AS (the "Managers") in
Tranche 1 and up to 6,118,337 shares in Tranche 2, to facilitate DVP settlement
in the Private Placement. During the term of the share lending for Tranche 1,
Kistefos' shareholding in the Company will be reduced to 840,000 shares (net of
lent shares and excluding the new shares allocated in Tranche 2), representing
3.15% of the shares and votes in the Company (reflecting the issued, but not yet
registered, Tranche 1 shares but excluding the Tranche 2 shares to be issued by
the extraordinary general meeting). Consequently, Kistefos' shareholding in the
Company resulting from the share lending has fallen below the 20%, 15%, 10% and
5% threshold pursuant to Section 4-2 (1) of the Norwegian Securities Trading
Act.

Further, Redback AS ("Redback"), a PCA of chairman Jan Pihl Grimnes, has entered
into a share lending agreement, where Redback has agreed to lend up to 813,943
shares (of the total 1,358,903 shares held by Redback) to the Managers in
Tranche 1, to facilitate DVP in the Private Placement.

Primary insider notification pursuant to the EU Market Abuse Regulation Article
19 is attached.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act, EU Market Abuse Regulation Article
19 and Euronext Oslo Rule Book II.

More information:
Access the news on Oslo Bors NewsWeb site

638690_Argeo ASA - PCA attachments.pdf