Fjord Defence Group ASA – Approval and publication of Prospectus and listing of New Shares in the Private Placement and Consideration Shares

Oslo, 24 August 2026

Reference is made to the stock exchange announcements made by Fjord Defence Group ASA (the "Company") on 17 and 18 June 2026 regarding the agreement to acquire 100% of the shares in PartnerTech Karlskoga Aktiebolag (the "Acquisition") and the related private placement of 25,000,000 new shares (the "New Shares") at a subscription price of NOK 16.50 per share, raising gross proceeds to the Company of approximately NOK 412.5 million (the "Private Placement").

Reference is further made to the resolutions by the Company's extraordinary general meeting held on 10 July 2026, inter alia authorizing the board of directors to increase the share capital by issuance of consideration shares in the Acquisition (the "Consideration Shares").

Approval and publication of Prospectus

The Norwegian Financial Supervisory Authority (Nw. Finanstilsynet) has today, 24 August 2026, approved a prospectus prepared by the Company (the "Prospectus") for the listing on Euronext Oslo Børs of (i) 24,640,989 of the New Shares and (ii) 15,766,348 Consideration Shares (to be issued). The remaining 359,011 New Shares will be admitted to trading on Euronext Oslo Børs under an exemption from the prospectus requirement in the EU Prospectus Regulation (Regulation (EU) 2017/1129).

The Prospectus will be made available on the Company's website: https://www.fjorddefencegroup.no/investors

Listing of the New Shares and Consideration Shares

All 25,000,000 New Shares were issued on a separate temporary ISIN (NO 0013709089) pending approval and publication of the Prospectus, and have not been tradable on Euronext Oslo Børs. Following the approval and publication of the Prospectus, all 25,000,000 New Shares will be transferred to the Company's ordinary listed ISIN (NO 0013647693) in the Norwegian Central Securities Depository, Euronext Securities Oslo (the "VPS"), and become tradable on Euronext Oslo Børs.

15,766,348 Consideration Shares will be issued on the Company's ordinary listed ISIN (NO 0013647693) following completion of the Acquisition, expected to take place by the end of August 2026. The number of Consideration Shares has been determined by dividing the NOK equivalent of approximately SEK 256.6 million by the subscription price of NOK 16.50 per share, using the NOK/SEK exchange rate per 16 June 2026 (0.98647).

Advisors

Arctic Securities AS, Pareto Securities AS and SB1 Markets AS acted as Joint Managers and Joint Bookrunners in the Private Placement. Wikborg Rein Advokatfirma AS acted as legal advisor to the Company in connection with the Private Placement and the Acquisition.

For further information, please contact:

Jon Asbjørn Bø, CEO

jab@fjorddefence.com

+47 930 86 932

ABOUT FJORD DEFENCE GROUP ASA

Fjord Defence Group ASA ("DFENS") is a Norwegian "compounder" listed on Euronext Oslo Børs 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 https://www.fjorddefencegroup.no/.

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 - Issuer Rules.