Asker, 26 February 2024: Reference is made to the stock exchange notice
published by Argeo AS (the "Company" or "Argeo") on 17 February 2024 regarding a
potential sale-and-leaseback transaction (the "Transaction") involving the
Company's vessel Argeo Venture. 

The Company is pleased to announce that the Transaction was fully subscribed for
by investors and completed on today's date (the "Transaction"). 

The net proceeds from the Transactions will replace the offer for a USD 10
million bank loan and USD 2 million credit facility in financing (as previously
announced). The Transaction will provide improved cash liquidity over such loan
and credit facility in addition to more favourable terms regarding covenants and
restrictions. 

This information is subject to a duty of disclosure pursuant to the Company's
continuing obligations as a company listed on Euronext Growth Oslo. This
information was issued as inside information pursuant to the EU Market Abuse
Regulation, and was published by Odd Erik Rudshaug, Chief Financial Officer, at
Argeo AS on the date and time provided herein. 

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, Houston,
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 Euronext Growth Oslo under the ticker: ARGEO. Please
visit www.argeo.no for more information. 

Important notice

This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures. The securities referred to in this announcement
have not been and will not be registered under the U.S. Securities Act of 1933,
as amended (the "Securities Act"), and accordingly may not be offered or sold in
the United States absent registration or an applicable exemption from the
registration requirements of the Securities Act and in accordance with
applicable U.S. state securities laws. 

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believe that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict, and are beyond their control. Actual
events may differ significantly from any anticipated development due to a number
of factors, including without limitation, changes in public sector investment
levels, changes in the general economic, political and market conditions in the
markets in which the Company operates, the Company's ability to attract, retain
and motivate qualified personnel, changes in the Company's ability to engage in
commercially acceptable acquisitions and strategic investments, and changes in
laws and regulation and the potential impact of legal proceedings and actions.
The Company does not make any guarantee that the assumptions underlying any
forward-looking statements in this announcement are free from errors nor does it
accept any responsibility for the future accuracy of the opinions expressed in
this announcement or any obligation to update or revise the statements in this
announcement to reflect subsequent events. You should not place undue reliance
on the forward-looking statements in this announcement. The information,
opinions and forward-looking statements contained in this announcement speak
only as at its date, and are subject to change without notice.