Fjord Defence Group ASA – Successful completion of acquisition of Frydenbø Milpro

05 Jun 2026 14:21 CEST

Oslo, 5 June 2026

Reference is made to the stock exchange announcement made by Fjord Defence Group
ASA (the "Company") on 20 May 2026 regarding the Company entering into an
agreement with Frydenbø Marine AS (the "Seller") to acquire 100% of the shares
in Frydenbø Milpro AS ("Frydenbø Milpro") (the "Acquisition").

The Company is pleased to announce that the Acquisition has been successfully
completed today. The Company further announces the intention to rebrand Frydenbø
Milpro to Fjord Defence Marine. Following the Acquisition, the current
management team of Frydenbø Milpro will continue in their roles to ensure
continuity and leadership stability. Furthermore, there are no other planned
changes to Frydenbø Milpro's day-to-day business operations, and it remains
committed to delivering the same high standard of service and products to its
partners.

As previously announced, the board of directors of the Company has, subject to
completion of the Acquisition, resolved to issue 6,972,823 new shares in the
Company to the Seller (the "Consideration Shares"), as part settlement of the
consideration payable by the Company in the Acquisition. The Consideration
Shares will be subject to a lock-up, with 55% of the Consideration Shares being
released after 12 months, and the remaining 45% after 24 months, calculated from
the date of completion of the Acquisition (i.e. from 5 June 2026).

Following registration of the share capital increase pertaining to the issuance
of the Consideration Shares, the Company will have a share capital of NOK
639,438,987.60 divided into 76,123,689 shares, each with a nominal value of NOK
8.40.

For further details about the Acquisition, please refer to the Company's stock
exchange announcements of 20 May 2026.

For further information, please contact:
Jon Asbjørn Bø, CEO
JAB@fjorddefence.com
+47 930 86 932

ABOUT FJORD DEFENCE GROUP ASA

Fjord Defence Group ASA ("DFENS") is a Norwegian "compounder" listed on Euronext
Oslo Børs seeking to acquire and develop fast-growing, profitable, and well-run
companies in the defence industry. The company has a buy & build strategy, with
focus on acquiring established, profitable businesses within the defence,
security and related segments. More information on www.fjorddefencegroup.com.

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

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