Oslo, 23 June 2025

Reference is made to the stock exchange announcements made by Aquila Holdings
ASA (the "Company") on 20 June 2025 regarding the 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.

As further detailed therein, the EGM resolved to (i) decrease the share capital
by NOK 70,407,290.10, by reducing the par value of each share from NOK 1.00 to
NOK 0.70, (ii) increase the share capital by NOK 52,500,000, by the issuance of
75,000,000 new shares in the private placement announced on 27 May 2025 (the
"Offer Shares"), and (iii) increase the share capital by NOK 122,631,577.60, by
the issuance of 175,187,968 new shares in the Company as part settlement of the
consideration payable by the Company in relation to the Acquisition (the
"Consideration Shares"). 

The share capital decrease and the share capital increases pertaining to the
issuance of the Offer Shares and the Consideration Shares have now been
registered with the Norwegian Register of Business Enterprises:

      - Share capital (new): NOK 339,415,254.50
      - Total number of shares (new): 484,878,935 shares
      - Par value of each share (new): NOK 0.70

To facilitate for the completion of the Acquisition and the strategic
repositioning of the Company as a defence compounder, the EGM further resolved
to change the Company's name to "Fjord Defence Group ASA" and its objective as
set out in its articles of association. The name change has been registered with
the Norwegian Register of Business Enterprises and is expected to be implemented
by Euronext Oslo Børs shortly. Following the name change, the Company's shares
will trade under the new ticker "DFENS".

For further details about the Acquisition, the strategic repositioning of the
Company, and the Private Placement, please refer to the Company's stock exchange
announcements of 27 May and 20 June 2025.

For more information please contact:

Jon Asbjørn Bø
jon.asbjorn.bo@fjorddefence.com 
+47 930 86 932 


About Fjord Defence Group ASA

Fjord Defence Group ASA, "DFENS" is a Norwegian "compounder" listed on Euronext
Expand 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 Euronext Oslo Rule Book II.