Oslo, 23 June 2025

Reference is made to the stock exchange announcement made by Fjord Defence Group
ASA (previously Aquila Holdings ASA, the "Company") on 20 June 2025 regarding
the successful completion of the Company's acquisition of 100% of the shares in
Fjord Defence AS (the "Acquisition") and the extraordinary general meeting of
the Company held the same day (the "EGM") in connection with inter alia
completion of the Acquisition. 

Reference is further made to the stock exchange announcement made by the Company
earlier today regarding the registration with the Norwegian Register of Business
Enterprises of the EGM's resolutions to inter alia increase the share capital by
the issuance of (i) 75,000,000 new shares in the private placement announced on
27 May 2025, and (iii) 175,187,968 new shares as part settlement of the
consideration payable by the Company in the Acquisition (together, the "Share
Capital Increases"). 

Following registration of the Share Capital Increases, the relative holdings of
the following shareholders have fallen below the disclosable thresholds pursuant
to section 4-2 of the Norwegian Securities Trading Act:

- Investeringsfondet Viking AS' holding of 25,695,132 shares in the Company
(including 1,977,500 shares allocated in the private placement) has decreased to
approx. 5.30% of the shares and votes in the Company, thereby falling below the
10% disclosable threshold