Argeo: Decision to file for bankruptcy

07 Jul 2025 08:30 CEST

Asker, 7 July 2025 at 08:30 CEST: Reference is made to the stock exchange notice
by Argeo ASA (the “Company” or “Argeo”) on 4 July regarding an update on its
financial situation and the board had resolved to initiate a process whereby the
Company will file for bankruptcy.

The Company has resolved to file for bankruptcy and the Company expects the
formal filing to take place on or about Tuesday 8 July 2025. In addition to the
Company, the boards of the Company’s Norwegian subsidiaries Argeo Survey AS,
Argeo Robotics AS and Argeo Multiclient AS have also resolved to file for
bankruptcy for such subsidiaries. It is also expected that the Company’s
non-Norwegian subsidiaries in Scotland, Singapore and the US will file for
bankruptcy.

Further, the Company’s subsidiary Argeo Survey AS has received notifications of
termination and repossession from the charter owners for the charters of the
vessels Argeo Searcher and Argeo Venture.

For more information, please contact:
Jan Grimnes, Chairman
Email: Jan.grimnes@redback.no
Phone: +47 982 30 332

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading
Act. This stock exchange notice was published by Odd Erik Rudshaug, Chief
Financial Officer, at Argeo ASA on the date and time provided.

More information:
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