Fjord Defence Group ASA - Notice of extraordinary general meeting, proposal for reverse share split

Oslo, 1 September 2025

Reference is made to the stock exchange announcement made by Fjord DefenceGroupASA (the "Company") on 20 June 2025 regarding the successful completion of theacquisition of 100% of the shares in Fjord Defence AS and the relatedrepositioning of the Company as a "compounder" in the defence industry.

Pursuant to section 4.1 of Oslo Rulebook II, Issuer Rules, the market value ofthe shares listed on Euronext Expand or Euronext Oslo Børs shall not be lowerthan NOK 1. Furthermore, as announced in the Company's Q2 2025 report on 29August 2025, the Company has initiated a process for a potential uplisting ofits shares to the main board Euronext Oslo Børs. A requirement for suchuplisting is that the Company's shares each have an expected market value ofatleast NOK 10 at the time of admission to trading on Euronext Oslo Børs.

The Company's board of directors hereby calls for an extraordinary generalmeeting to be held on Monday, 22 September 2025 at 10:00 CEST to resolve uponashare consolidation (reverse share split) in the ratio 12:1. As the Company'sshares currently cannot be divided by 12, the board also proposes a minorsharecapital increase to ensure that the total number of shares in the Company isdividable by 12.

The general meeting will be held at Wikborg Rein Advokatfirma AS, DronningMaudsgate 11, 0250 Oslo, Norway. Registration of attendees will begin at 09:30 CESTon 22 September 2025. The notice of the general meeting is attached to thisannouncement and will, together with the registration and proxy form and otherappendices, also be made available on the Company's website,www.fjorddefencegroup.com.

It is proposed that the board is authorised to set the relevant key dates forthe reverse share split, such as last day including, ex-date and record date.Inconnection with the reverse share split, it will also be necessary to changetheISIN of the Company's shares. Further information about key dates and thechangeof ISIN will be given through stock exchange announcements at a later time.

Shareholders who do not own a number of shares which can be divided by 12 willin connection with the reverse share split have their shareholding roundeddownwards. Fractional shares will not be issued, and the shareholder will notreceive any compensation for the rounding. The board proposes that fractionalshares are added together to whole shares and sold at Euronext Expand, withthenet proceeds from the sale being donated to charity as determined by theboard.

Shareholders that wish to avoid that their shareholding is rounded downwardsmust ensure that they hold a number of shares dividable by 12 as of the dateofimplementation of the reverse share split (i.e. the record date). Informationabout the date of implementation of the reverse share split will be given at alater time.

Shareholders are encouraged to either vote electronically in advance or submitproxy forms prior to the meeting. Advance votes may be registered through theCompany's website, www.fjorddefencegroup.com (use ref. no. and pin codeincludedin the notice) or through VPS Investor Services. In VPS Investor Services,select Corporate Actions - General Meeting - ISIN. If you are not able toregister electronically, you may send the register form by e-mail togenf@dnb.no, or by regular mail to DNB Bank ASA, DNB Carnegie Issuer andInvestor Services, P.O. Box 1600 Sentrum, 0021 Oslo, Norway.

To register your attendance, please register through the Company's website,www.fjorddefencegroup.com, or through VPS Investor Services.

The Company will arrange for shareholders to be able to call in to the generalmeeting and as such participate in the meeting. Votes cannot be casteddigitally. Shareholders who wish to dial in to the general meeting are askedtosend an e-mail to info@fjorddefencegroup.com to receive dial-in details.

Shareholders receiving the paper version of the notice of the general meetingare encouraged to accept electronic communication through VPS InvestorServices.

For further information, please contact:Jon Asbjørn Bø, CEOjab@fjorddefence.com +47 930 86 932

About Fjord Defence Group ASA

Fjord Defence Group ASA, "DFENS", is a Norwegian "compounder" listed onEuronextExpand seeking to acquire and develop fast-growing, profitable, and well-runcompanies in the defence industry. The company has a buy & build strategy,withfocus on acquiring established, profitable businesses within the defence,security and related segments. More information on www.fjorddefencegroup.com.

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This information is subject to the disclosure requirements pursuant to section5-12 of the Norwegian Securities Trading Act and Oslo Rulebook II, IssuerRules.

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