NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR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,
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Oslo, 27 November 2025,
Reference is made to the stock exchange announcements by Fjord Defence Group ASA
("Fjord Defence Group" or the "Company") on 27 November 2025 regarding a
successful placement and conditional allocation of 13,333,333 new shares in the
Company (the "Offer Shares") at a price per Offer Share of NOK 12 (the "Offer
Price"), raising gross proceeds to the Company of approx. NOK 160 million (the
"Private Placement"), and a potential subsequent repair offering (the
"Subsequent Offering").
The completion of the Private Placement by issuance of the Offer Shares is
subject to approval by an extraordinary general meeting of the Company, expected
to be held on or about 18 December 2025 (the "EGM"), and certain other
conditions, as further detailed in the announcement of 27 November 2025.
The Company has resolved to carry out a Subsequent Offering, subject to (i)
completion of the Private Placement (including approval by the EGM)