Argeo ASA: Cancellation of subsequent offering

24 Mar 2025 20:14 CET

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Asker, 24 March 2025. Reference is made to the stock exchange release published
by Argeo ASA ("Argeo" or the "Company") on 12 February 2025 regarding the
successful private placement of 18,750,000 new shares in the Company (the
"Private Placement"), and that the Company intends to carry out a subsequent
offering (the "Subsequent Offering") with non-tradeable subscription rights of
up to 12,000,000 new shares at a price per share of NOK 8.00, equal to the price
per share in the Private Placement (the "Subscription Price"), depending on,
among others, the prevailing market price and traded volume of the shares in the
Company following completion of the Private Placement.

Following the announcement of the completion of the Private Placement, more than
25 million shares (i.e. more than 2 times the size of the Subsequent Offering)
have traded at or below the Subscription Price (with a volume-weighted average
price per share for this volume of NOK 6.9479) on the Oslo Stock Exchange.
Accordingly, any shareholder wishing to neutralize the dilutive effect of the
Private Placement has had sufficient opportunity (i.e. enough volume traded
since 12 February 2025) to purchase shares in the market at prices at or below
the Subscription Price (NOK 8.00 per share). Additionally, the closing price per
share on the last trading day (24 March 2025) on the Oslo Stock Exchange (i.e.
the current market price of the share) was NOK 5.96 (i.e. below the Subscription
Price).

In light of this, the Company has today decided not to proceed with the
Subsequent Offering.

For more information, please contact:

Trond Figenschou Crantz, CEO Argeo AS
Email: trond.crantz@argeo.no
Phone: +47 976 37 273

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

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