Argeo AS - Purchase of a new Hugin 6000 AUV system from Kongsberg

Asker, 24.03.2022: Argeo confirms that an agreement has been signed with
Kongsberg Maritime for the purchase of a Hugin 6000 AUV (Autonomous Underwater
Vehicle) for early H2 2022.

The Hugin 6000 is Argeo's second Hugin system and will be commercially available
from the beginning of H2 2022. The system is scheduled to commence work directly
after completing delivery to Argeo. Further announcement on this project will
follow.

- We are pleased to announce this important addition to our fleet of vehicles.
The Hugin 6000 is a state-of-the-art ultra-deep water autonomous vehicle with
all the necessary payload systems to make it one of the most advanced
high-capacity survey machines in the world, says Argeo's CEO, Trond Crantz. 

The Hugin 6000 system comprises the following commercial payloads:
o	Synthetic Aperture Sonar: 	HISAS 1032
o	Multibeam:			EM2040
o	Sub-Bottom Profiler:		EdgeTech DW-216 (2-16 KHz)
o	Colour camera:			CathX Hunter UHD + LED panels
o	Laser:				CathX Dual Mode Laser profiling
o	Environmental sensors:		WetLabs FLNTU Turbidity
o	Magnetometer:		        Applied Physics 
o	Electro Magnetics:		*Argeo Robotics Cathodic Protection
                                         Measurement "Listen"
o	Electro Magnetics:		*Argeo Robotics EM system "Whisper"
* Argeo Robotics system will be installed after first project is completed

With this purchase Argeo's fleet expands to four high capacity AUV's, a USV
(Unmanned Surface Vehicle) and the Eelume UID (Underwater Inspection Drone). The
complete AUV Hugin 6000 AUV system includes a full LARS container and an OPS
container system which can be strategically placed in Argeo's main Geomarkets
for rapid deployment serving the company's global customers with
state-of-the-art technology and data. All data collected is processed onboard
the AUV using onboard-post processing and mosaicking software to allow quick
turnaround during missions and improved decision making for the customer.

The AUV enables deep-sea surveys to the benefit of marine industries including
Installations & Infrastructure, Offshore Wind, Oil & Gas and Deep-Sea Minerals.

For more information, please contact:
Trond Figenschou Crantz, CEO Argeo AS
Email: trond.crantz@argeo.no
Phone: +47 976 37 273

About Argeo
Argeo is a 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 ("AUVs") will significantly increase
efficiency and imaging quality in addition to contribute 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 Infrastructure, Offshore Wind, Oil
& Gas and Deep-Sea Minerals. 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 The Euronext Growth in Oslo under the ticker: ARGEO.
Please visit www.argeo.no for more information.