Asker, 15.05.2025 Revenue for Q1 amounted to USD 11.5 million, marking an
increase of 21% year-over-year (YoY). EBITDA amounted to USD -0.2 million,
alongside an EBIT of USD -2.0 million. Net loss for the quarter was USD 4.2
million.

Key Q1 2025 highlights include:
All amounts in USD million (Q1 2024 in brackets)
Revenue: 11.5 (9.5)
EBITDA: -0.2 (2.9)
EBIT: -2.0 (1.1)
Net profit (Loss): -4.2 (1.9)
Total expected backlog: USD 164 million 

The presentation and financial report for Q1 2025 are enclosed.

For more information, please contact:
Jan P. Grimnes, Executive Chair
Email: jan.grimnes@argeo.no
Phone: +47 982 30 332

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Odd Erik Rudshaug, CFO & Interim CEO at Argeo ASA,
on 15 May 2025 at 07.00 CEST.

About Argeo ASA
Argeo is a comprehensive subsea service provider, operating across three major
sectors: Oil & Gas, Marine Minerals, and Renewables. The Company offers a unique
package that integrates robust vessels, state-of-the-art autonomous underwater
vehicles (AUVs), advanced sensors, digital imaging technology, and an intuitive
digital platform designed to collect and visualize complex data. 
With their own vessels and high-performance AUVs, Argeo delivers fast and
flexible full-lifecycle services, including survey, inspection, maintenance, and
repair, aimed at improving efficiency and reducing the carbon footprint for
global, industry-leading clients. 

Argeo has established offices in Asker (Oslo), Edinburgh, Houston, and Rio de
Janeiro. 

The Company is listed on Euronext Oslo Børs under the ticker: ARGEO. Please
visit www.argeo.no for more information.