Fjord Defence Group ASA – Disclosure of major shareholding

26 Feb 2026 10:01 CET

Oslo, 26 February 2026

Reference is made to the stock exchange announcement made by Fjord Defence Group
ASA (the "Company") on 25 February 2026 regarding the successful completion of
the Acquisition (as defined therein), including the board of directors'
resolution to issue 6,870,673 new shares in the Company to be used as part
settlement of the consideration payable by the Company to the Sellers (as
defined therein) in the Acquisition (the "Consideration Shares"), and earlier
today regarding the registration of the share capital increase pertaining to the
issuance of the Consideration Shares.

GKI AS holds 2,969,654 shares in the Company, which prior to the registration of
the share capital increase pertaining to the issuance of the Consideration
Shares represented ~5.22% of the issued shares and votes. Due to the increase of
the total issued shares and votes in the Company following the share capital
increase and issuance of the Consideration Shares, as of today, 26 February
2026, the 2,969,654 shares held by GKI AS represents ~4.69% of the issued shares
and votes in the Company, thus falling below the 5% threshold pursuant to
section 4-2 of the Norwegian Securities Trading Act. GKI AS have no rights to
further shares or votes in the Company. GKI AS is ultimately controlled by
Gudmund Kjærheim.

For further information, please contact:

Jon Asbjørn Bø, CEO
jab@fjorddefence.com
+47 930 86 932

This information is subject to the disclosure requirements pursuant to section
4-2 of the Norwegian Securities Trading Act.

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