Asker, 12.06.2024 Argeo is pleased to announce contract award to execute initial
site investigation survey for RWE's Canopy offshore wind project, in Northern
California.

The contract includes a 40-day initial site investigation survey, with an option
for an additional 30 days. The project's first activities will commence in June,
with Argeo utilizing its Hugin 6000, equipped with latest state-of-the-art
sensors, and a chartered vessel.

"We are pleased to announce the contract with RWE. We bring our expertise in
autonomous underwater vehicle (AUV) surveys to the RWE Canopy offshore wind
project, and we are confident this project will pave the way for future growth
and innovation in the renewable energy industry." states Argeo CEO, Trond
Figenschou Crantz.

By comprehensively 'mapping' the seafloor, Argeo will assist RWE in acquiring
data and deliver reports to better understand biodiversity, habitats, and
environmental factors to ensure responsible project planning and design.

The 1.6 GW offshore wind project will be one of the first commercial scale
floating offshore wind farms that will deliver sustainable power and help firmly
position the North Coast as a hub for the floating offshore wind industry on the
West Coast.

"We look forward to working with Argeo on RWE's site investigation campaign for
our first commercial-scale floating wind project," said Rob Mastria, Project
Director for Canopy Offshore Wind. "Argeo has worked with RWE's site
investigation, stakeholder and development teams to put together a high-quality
technical solution that considered feedback from state and federal agencies and
the local community to ensure this work minimizes impacts to ocean users and
marine life."

"This contract with RWE is a pivotal step for Argeo with expansion of our
activities in North and South America," states Argeo VP NSA, Dave Gentle. "This
project is essential in advancing our capabilities within the renewables sector,
specifically in floating offshore wind. By securing an important contract in
this market, we not only enhance our technological expertise but also reinforce
our commitment to supporting the transition to sustainable energy sources. This
endeavor positions Argeo at the forefront of innovation and excellence in
renewable energy projects across the Americas."

For more information, please contact:

Trond Figenschou Crantz, CEO
Email: trond.crantz@argeo.no
Phone: +47 976 37 273

About Argeo
Argeo is an Offshore Service company with a mission to transform the ocean
surveying and inspection industry by utilizing autonomous surface and underwater
robotics solutions. Equipped with unique sensors and advanced digital imaging
technology, the Autonomous Underwater Vehicles (AUV's) will significantly
increase efficiency and imaging quality in addition to contributing to
significant reduction in CO2 emissions from operations for the global industry
in which the Company operates. 

The Company's highly accurate digital models and digital twin solutions are
based on geophysical, hydrographic, and geological methods 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
offices in Asker (Oslo), Tromsø, Stockholm, Edinburgh, Houston, Rio de Janeiro,
and Singapore. Since its incorporation, Argeo has carried out complex projects
for some of Norway's largest companies in the field. 

The company is listed on The Euronext Growth in Oslo under the ticker: ARGEO. 

Please visit www.argeo.no for more information.