NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE HONG
KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN,
OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE
WOULD BE UNLAWFUL.


Oslo, 18 June 2026


Reference is made to the stock exchange announcement by Fjord Defence Group ASA
("Fjord Defence Group" or the "Company") earlier today on 18 June 2026 regarding
a successful placement of 25,000,000 new shares in the Company (the "Offer
Shares") at a price per Offer Share of NOK 16.50 (the "Offer Price"), raising
gross proceeds to the Company of approx. NOK 412.5 million (the "Private
Placement"), and a potential subsequent repair offering (the "Subsequent
Offering").


The Company's board of directors (the "Board") has resolved to propose that the
EGM (as defined below) authorises the Board to resolve a share capital increase
in connection with a Subsequent Offering of up to 2,500,000 new shares in the
Company equal to approx. NOK 41.3 million. The Subsequent Offering, if
applicable and subject to applicable securities laws, will be directed towards
existing shareholders in the Company as of 17 June 2026 (as registered in the
VPS two trading days thereafter) who (i) were not included in the pre-sounding
phase of the Private Placement, (ii) were not allocated Offer Shares in the
Private Placement, and (iii) are not resident in a jurisdiction where such
offering would be unlawful or would (in jurisdictions other than Norway) require
any prospectus, filing, registration or similar action (the "Eligible
Shareholders").


An extraordinary general meeting in the Company is expected to be held on or
about 10 July 2026 (the "EGM"). Notice of the EGM is expected to be distributed
and published on 19 June 2026.


The subscription price in the Subsequent Offering will be equal to the Offer
Price in the Private Placement. The Eligible Shareholders will receive
non-transferrable subscription rights in the Subsequent Offering.
Oversubscription and subscription without subscription rights will not be
allowed.


In accordance with the continuing obligations of companies listed on Euronext
Oslo Børs, the following key information is given with respect to the Subsequent
Offering:


- Date on which the terms and conditions of the repair issue were announced: 17
June 2026

- Last day including right to receive subscription rights: 17 June 2026

- Ex-date: 18 June 2026

- Record date: 19 June 2026

- Date of approval: On or about 10 July 2026 (date of EGM expected to authorise
the Board to issue shares in a Subsequent Offering)

- Maximum number of new shares: Up to 2,500,000 new shares in the Company

- Subscription price: NOK 16.50 (the Offer Price)


The Subsequent Offering is subject to (i) completion of the Private Placement,
(ii) approval by the EGM to authorise the Board to issue new shares in the
Subsequent Offering and the Board resolving to issue new shares; (iii) approval
and publication of a prospectus; and (iv) the prevailing market price and
trading volume of the Company's shares following the Private Placement.


The Company reserves the right in its sole discretion to not conduct or to
cancel any Subsequent Offering, including if the Company's shares trade at or
below the subscription price in the Subsequent Offering (i.e. the Offer Price)
at sufficient volumes.





For more information, please contact:


Jon Asbjørn Bø, CEO jab@fjorddefence.com

+47 930 86 932


ABOUT FJORD DEFENCE GROUP ASA


Fjord Defence Group ASA ("DFENS") is a Norwegian "compounder" listed on Euronext
Oslo Børs seeking to acquire and develop fast-growing, profitable, and well-run
companies in the defence industry. The company has a buy & build strategy, with
focus on acquiring established, profitable businesses within the defence,
security and related segments. More information on www.fjorddefencegroup.com.


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act and the Oslo Rule Book II.


IMPORTANT NOTICE


These materials are not and do not form a part of any offer of securities for
sale, or a solicitation of an offer to purchase, any securities of the Company
in the United States or any other jurisdiction. Copies of these materials 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.
The Company does not intend to register any part of the equity raise in the
United States or to conduct a public offering of securities in the United
States. Any sale in the United States of the securities mentioned herein will be
made solely to "qualified institutional buyers" (QIBs) as defined in Rule 144A
under the Securities Act, pursuant to an exemption from the registration
requirements under the Securities Act.


In any EEA member state, this communication is only addressed to and is only
directed at qualified investors in that member state within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive any offering
of securities referred to in this announcement without an approved prospectus in
such EEA member state. "EU Prospectus Regulation" means Regulation (EU)
2017/1129, as amended (together with any applicable implementing measures in any
EEA member state).


This communication is only being distributed to and is only directed at persons
in the United Kingdom that are "qualified investors" as defined in paragraph 15
of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024,
and that are (i) investment professionals falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as
amended (the "Order") or (ii) persons falling within Article 49(2)(a) to (d) of
the Order (high net worth companies, unincorporated associations, etc.) (all
such persons together being referred to as "Relevant Persons"). These materials
are directed only at Relevant Persons and must not be acted on or relied on by
persons who are not Relevant Persons. Any investment or investment activity to
which this communication relates is available only to Relevant Persons and will
be engaged in only with Relevant Persons. Persons distributing this
communication must satisfy themselves that it is lawful to do so.


This communication contains forward-looking statements concerning future events,
including possible issuance of equity securities of the Company. 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 communication are based upon various
assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes 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 its control. Actual events may differ
significantly from any anticipated development due to a number of factors,
including, but not limited to, changes in investment levels and need for the
group's services, changes in the general economic, political, and market
conditions in the markets in which the group operate, and changes in laws and
regulations. Such risks, uncertainties, contingencies, and other important
factors include the possibility that the Company will determine not to, or be
unable to, issue any equity securities, and could cause actual events to differ
materially from the expectations expressed or implied in this communication by
such forward-looking statements. The Company does not make any guarantees that
the assumptions underlying the forward-looking statements in this communication
are free from errors.


The information, opinions and forward-looking statements contained in this
communication speak only as at its date and are subject to change without
notice. Each of the Company, the Managers and their respective affiliates
expressly disclaims any obligation or undertaking to update, review, or revise
any statement contained in this communication whether as a result of new
information, future developments or otherwise, unless required by laws or
regulations.


The Managers are acting exclusively for the Company and no one else in
connection with the equity raise and will not be responsible to anyone other
than the Company for providing the protections afforded to its clients, or for
advice in relation to the contents of this announcement or any of the matters
referred to herein. Neither the Managers nor any of their respective affiliates
make any representation as to the accuracy or completeness of this announcement
and none of them accepts any liability arising from the use of this announcement
or responsibility for the contents of this announcement or any matters referred
to herein.


This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company.


Certain figures contained in this announcement, including financial information,
have been subject to rounding adjustments. Accordingly, in certain instances,
the sum or percentage change of the numbers contained in this announcement may
not conform exactly with the total figure given.


The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.
Specifically, neither this announcement nor the information contained herein is
for publication, distribution or release, in whole or in part, directly or
indirectly, in or into or from the United States (including its territories and
possessions, any state of the United States and the District of Columbia),
Australia, Canada, Hong Kong, Japan or any other jurisdiction where to do so
would constitute a violation of the relevant laws of such jurisdiction.
ectly or\
indirectly\, in or into or from the United States (including its territories and\
possessions\, any state of the United States and the District of Columbia)\,\
Australia\, Canada\, Hong Kong\, Japan or any other jurisdiction where to do so\
would constitute a violation of the relevant laws of such jurisdiction.\