Oslo, 22 September 2022

Carbon Transition is pleased to announce that the company has entered into its
first multi-client late sales agreement in the Gulf of Suez in Egypt. The
agreement represents revenues of USD 1.6 million (net to Carbon Transition) and
will be recognized in the third quarter of 2022.

This late sale marks a major milestone for our multi-client business line.
Processing of the Gulf of Suez survey was only recently completed and we are
encouraged to see that the first sale materialized this quickly.

Carbon Transition specialize in multi-client data for near-field exploration,
where production infrastructure is in place and where E&P companies need high
quality seismic data to unlock existing potential. In these areas, natural
resources can be extracted with low cost, low environmental impact and low
emissions. Carbon Transition's largest investment and asset on its balance sheet
is a significant OBN multi-client library, with surveys in the Utsira area in
the Norwegian North Sea and the Gulf of Suez in Egypt. The company expects to
see significant sales from this library going forward.

For further information, please contact:
Nils Haugestad, Interim CEO and CFO
nils.haugestad@carbn.no
+47 977 04 439


About Carbon Transition 
Carbon Transition ASA ("CARBN") is an investment company listed on Euronext
Expand. CARBN has a strategy to invest in companies and technologies which
contribute to significant reductions of carbon emissions. The company may also
invest more broadly in other industries in listed companies as well as companies
expected to be listed in the near term. CARBN has a legacy seismic business
operating under the name Axxis Geo Solutions, with a multi-client data library.

More information on www.carbn.no

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.