Oslo, 1 June 2026

Reference is made to the stock exchange announcement made by Fjord Defence Group
ASA (the "Company") on 20 May 2026 regarding completion of a private placement
raising gross proceeds of approximately NOK 81.5 million (the "Private
Placement"). Reference is also made to the mandatory notification of trade and
disclosure of large shareholding on 21 May 2026 regarding the lending of
3,300,231 shares in the Company by AS Saturn to Pareto Securities AS, acting as
settlement agent on behalf of the managers in the Private Placement, for the
purpose of facilitating delivery of allocated shares in the Private Placement. 

Reference is further made to the stock exchange announcement on 27 May 2026
regarding registration of the share capital increase pertaining to the Private
Placement. Following such registration, Pareto Securities AS has redelivered
3,300,231 shares in the Company to AS Saturn (a close associate of the Company's
CEO, Jon Asbjørn Bø), as settlement of the borrowed shares described above.
Following the redelivery of shares, AS Saturn's shareholding in the Company is
3,366,676 shares (representing ~4.87% of the issued shares and votes).

Please see further details in the attached notification of trade.

For more information please contact:

Jon Asbjørn Bø
jab@fjorddefence.com
+47 930 86 932

* * *

This information is subject to the disclosure requirements pursuant to the
Market Abuse Regulation (EU) 596/2014 (MAR) article 19 number 3 and section 5-12
of the Norwegian Securities Trading Act.
-12\
of the Norwegian Securities Trading Act.\