Asker, 08.02.2024 In reference to announcement 13 November 2023 "Argeo awarded
NOK 154 million contract with India's National Centre for Polar and Ocean
Research (NCPOR)" we are pleased to announce that the contract has been formally
signed at NCPOR's premises in Delhi, India.

The contract comprises of near-seabed exploration survey and data analysis to
identify and delineate seafloor massive sulphide deposits over India's
exploration contract area in the Indian Ocean. The contract value is NOK 154
million. Argeo Searcher will arrive in Mauritius medio February to commence data
acquisition after a 2-day pitstop for crew change and onboarding of clients. The
project is estimated to be completed late May.

"We are excited and looking forward to having very fruitful outcomes from this
project and we are also hoping for more collaborative ventures with Argeo in the
future." Dr. John Kurian P.