Major Shareholding Notification

18 Feb 2025 16:28 CET

Reference is made to the stock exchange announcement published by Argeo ASA (the
"Company") on 12 February 2025 regarding the successful private placement and
allocation of 18,750,000 new shares in the Company at a subscription price of
NOK 8 per offer share (the "Private Placement") and the stock exchange
announcement by the Company on 13 February 2025 regarding disclosure of share
lending.

In connection with the registration of the share capital increase pertaining to
tranche 1 of the Private Placement, the managers have redelivered a total of
8,061,057 borrowed shares to Kistefos AS ("Kistefos"). During the time of the
loan, and prior to redelivery of the shares, Kistefos' shareholding in the
Company was reduced to 840,000 shares (held under forward contract),
representing 3.15% of the shares and votes. Upon redelivery of the borrowed
shares, a total of 6,524,367 shares are redelivered to be held by Kistefos
directly and 1,536,690 shares are redelivered to be held under Kistefos' forward
contract as announced on 16 August 2024. In total, Kistefos' shareholding is
8,901,057, representing approx. 16.69% of the current issued share capital and
votes. Consequently, Kistefos' has crossed above the 5%, 10%, and 15% 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.

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