Argeo: Registration of prospectus and launch of subsequent offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S
REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, THE UNITED STATES, THE
UNITED KINGDOM OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL.

Asker, 24 January 2023: Reference is made to the inventory alternate discover revealed
by Argeo AS (the "Company") (Euronext Growth: ARGEO) on 20 December 2022
saying the efficiently positioned personal placement of 30,300,000 new shares,
elevating gross proceeds of roughly NOK 50 million (the "Private
Placement"), and a possible subsequent offering to be carried out by the
Company (the "Subsequent Offering"). 

The Company has in the present day submitted a nationwide prospectus (the "Prospectus") for
registration with the Norwegian Register of Business Enterprises ("NRBE") in
accordance with part 7-8 of the Norwegian Securities Trading Act. Neither the
Financial Supervisory Authority of Norway nor another public authority has
carried out any type of overview, management, or approval of the Prospectus. This
Prospectus doesn't represent an EEA-prospectus.

The Prospectus might be made accessible electronically at www.sb1markets.no -
http://www.sb1markets.no, previous to the graduation of the Subscription Period
(as outlined under), anticipated to be revealed on or about 26 January 2023. 

The Subsequent Offering
The Subsequent Offering contains the problem of as much as 7,575,758 new shares (the
"Offer Shares") within the Company, every with a nominal worth of NOK 0.10, at a
subscription value of NOK 1.65 per share. Total gross proceeds will quantity to
roughly NOK 12,500,000. 

The Subsequent Offering might be directed in direction of shareholders of the Company as
of 20 December 2022 (as registered with the VPS on 22 December 2022) (the
"Record Date") who (i) weren't included within the wall-crossing section of the
Private Placement, (ii) weren't allotted shares within the Private Placement, and
(iii) who should not resident in a jurisdiction the place such offering can be
illegal or (for jurisdictions apart from Norway) would require any prospectus,
submitting, registration or related motion) ("Eligible shareholders"). 

Each Eligible Shareholder will obtain 0.5146 non-tradeable Subscription Rights
for every share held by such Eligible Shareholder within the Company as of the Record
Date, rounded right down to the closest entire proper. Each Subscription Right will,
topic to relevant securities legal guidelines, give the preferential proper to subscribe
for, and be allotted, one (1) Offer Share within the Subsequent Offering.
Over-subscription by Eligible Shareholders having obtained subscription rights
might be permitted; nonetheless, there may be no assurance that Offer Shares might be
allotted for such subscriptions. Subscription with out subscription rights will
not be permitted.

The subscription interval for the Subsequent Offering will begin on or about 26
January 2023 at 09:00 (CET) and will expire on 8 February 2023 at 16:30 (CET). 

In order to subscribe for shares, the Manager (as outlined under) should obtain a
full and duly signed subscription type throughout the finish of the Subscription
Period. Further directions concerning the subscription process can be found
within the Prospectus. Subscription Rights that aren't used to subscribe for Offer
Shares earlier than the expiry of the Subscription Period could have no worth and will
lapse with out compensation to the holder. 

The due date for cost of the Offer Shares is on 13 February 2023 (the
"Payment Date´´). The Offer Shares will, after registration of the share capital
improve in NRBE pertaining to the Offer Shares, be registered within the VPS in
book-entry type and are anticipated to be delivered to the applicant's VPS account
on or about 17 February 2023. The Offer Shares could have equal rights and rank
pari passu with the Company's different shares. 

The completion of the Subsequent Offering is topic to (i) duly cost of the
Offer Shares by the subscribers, (ii) the Board of Directors resolving to
approve the Subsequent Offering and subject and allocate the Offer Shares, (iii)
registration of the share capital improve pertaining to the Subsequent Offering
with the NRBE, and (iv) supply of the Offer Shares to the subscribers within the
VPS.

The Company will make enough bulletins referring to each graduation and
ultimate day of the Subscription Period. 

Advisors 
SpareBank 1 Markets AS acts as supervisor (the "Manager") within the Subsequent
Offering. 

Advokatfirmaet Schjødt AS acts as authorized advisor to the Company. 

For extra info, please contact: 
Trond Figenschou Crantz, CEO Argeo AS 
Email: [email protected] 
Phone: +47 976 37 273. 

About Argeo | www.argeo.no 
Argeo is an Offshore Service firm with a mission to rework the ocean
surveying and inspection trade by using autonomous floor and underwater
robotics options. Equipped with distinctive sensors and superior digital imaging
know-how, the Autonomous Underwater Vehicles ("AUVs") will considerably
improve effectivity and imaging high quality along with contribute to important
discount in CO2 emissions from operations for the worldwide trade wherein the
Company operates.

The Company's extremely correct digital fashions and digital twin options are
primarily based on geophysical, hydrographic, and geological strategies from shallow waters
to the deepest oceans for the market segments Oil & Gas, Renewables, Marine
Minerals and Offshore Installations. Argeo was established in 2017 and has
workplaces in Asker (Oslo), Tromsø, Stockholm, Houston, and Singapore. Since its
incorporation, Argeo has carried out complicated tasks for some of Norway's
largest corporations within the area.

The Company is listed on Euronext Growth Oslo underneath the ticker code: "ARGEO".

Important notices 
This announcement isn't and doesn't type a component of any provide to promote, or a
solicitation of a suggestion to buy, any securities of the Company. The
distribution of this announcement and different info could also be restricted by regulation
in sure jurisdictions. Copies of this announcement should not being made and could
not be distributed or despatched into any jurisdiction wherein such distribution
can be illegal or would require registration or different measures. Persons into
whose possession this announcement or such different info ought to come are
required to tell themselves about and to watch any such restrictions.
The securities referred to on this announcement haven't been and is not going to be
registered underneath the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly might not be supplied or bought in the United States absent
registration or an relevant exemption from the registration necessities of
the Securities Act and in accordance with relevant U.S. state securities legal guidelines.
The Company doesn't intend to register any half of the offering or their
securities in the United States or to conduct a public offering of securities in
the United States. Any sale in the United States of the securities talked about in
this announcement might be made solely to "certified institutional patrons" as
outlined in Rule 144A underneath the Securities Act. 

In any EEA Member State, this communication is barely addressed to and is barely
directed at certified buyers in that Member State throughout the that means of the
Prospectus Regulation, i.e., solely to buyers who can obtain the provide with out
an accepted prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation 2017/1129 as amended along with any relevant
implementing measures in any Member State. This communication is barely being
distributed to and is barely directed at individuals within the United Kingdom which might be
(i) funding professionals falling inside Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the
"Order") or (ii) excessive web value entities, and different individuals to whom this
announcement could lawfully be communicated, falling inside Article 49(2)(a) to
(d) of the Order (all such individuals collectively being known as "related
individuals"). 

This communication should not be acted on or relied on by individuals who should not
related individuals. Any funding or funding exercise to which this
communication relates is on the market just for related individuals and might be engaged
in solely with related individuals. Persons distributing this communication should
fulfill themselves that it's lawful to take action. 

The info contained on this announcement converse solely as at its date, and
are topic to vary with out discover. The Company doesn't undertake any
obligation to overview, replace, verify, or to launch publicly any revisions to
any of the content material of this announcement. 

Neither of the Company, the Manager nor any of their respective associates makes
any illustration as to the accuracy or completeness of this announcement and
none of them accepts any accountability for the contents of this announcement or
any issues referred to herein. This announcement is for info functions
solely and is to not be relied upon in substitution for the train of
impartial judgment. It isn't meant as funding recommendation and underneath no
circumstances is it for use or thought of as a suggestion to promote, or a
solicitation of a suggestion to purchase any securities or a advice to purchase or
promote any securities within the Company. Neither the Company, the Manager nor any of
their respective associates accepts any legal responsibility arising from the use of this
announcement.

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