Oslo, 20 June 2025

Reference is made to the stock exchange announcements made by Aquila Holdings
ASA (the "Company") earlier today regarding the extraordinary general meeting of
the Company (the "EGM") and the successful completion of the Company's
acquisition of 100% of the shares in Fjord Defence AS ("Fjord Defence") (the
"Acquisition").

As further detailed therein, the EGM inter alia resolved to (i) decrease the
share capital by reducing the par value of each share from NOK 1.00 to NOK 0.70,
(ii) issue a total of 75,000,000 new shares in the Company (the "Offer Shares")
at a subscription price of NOK 0.80 per Offer Share (the "Offer Price") in the
private placement announced on 27 May 2025 (the "Private Placement") and (iii)
issue a total of 175,187,968 new shares in the Company, at a subscription price
corresponding to the Offer Price, as part settlement of the consideration
payable by the Company in the Acquisition (the "Consideration Shares"). 

Following registration of the share capital decrease and the share capital
increases pertaining to the issuance of the Offer Shares and the Consideration
Shares (together, the "Share Capital Changes"), the Company's share capital will
be NOK 339,415,254.50, divided into 484,878,935 shares, each with a par value of
NOK 0.70.

The following close associates of primary insider Ketil Skorstad (board member
of the Company), have been allocated Offer Shares in the Private Placement as
follows:

- Tigerstaden AS has been allocated 6,250,000 Offer Shares