General Oceans ASA – Revenue growth of 22% in Q2 2026

Oslo, 13 August 2026: General Oceans reports a total revenue in Q2 2026 of NOK 385, an increase of 22 percent compared to Q2 2025. Gross profits were NOK 269 million (NOK 218 million), corresponding to a gross margin of 70 percent (69 percent). Adjusted EBITA came in at ~22 percent which compares to the longer-term target of the Group of 20 percent.

In Q2, the acquisition of MRV was successfully completed and consolidated from 9 April 2026. MRV is a U.S.-based supplier of floats to the international ARGO program and has been integrated into the Robotics segment.

The subsea defense market is buoyant, as both government and private investors fund technology. General Oceans companies are supplying sensors and solutions for mine countermeasures (MCM), expeditionary warfare and intelligence, surveillance and reconnaissance (ISR), representing an ongoing opportunity for growth.

"Our defense revenues continued to grow in Q2, supported by strong operational execution and the continued strength of global defense markets. We are seeing increasing demand for advanced autonomous and subsea capabilities, creating solid momentum across the segment," said Atle Lohrmann, President of General Oceans ASA.

Order backlog as at 30 June 2026 was NOK 548 million, of which NOK 426 million is expected to be delivered during the current financial year.

General Oceans invites investors, analysts, media and other stakeholders to attend the presentation of its results for the second quarter of 2026. The Q2 report and presentation materials will be available on the company’s website www.generaloceans.com and on www.newsweb.no.

The presentation will take place on 13 August 2026 at 08:00 CEST at the Hotel Continental in Oslo, "Hjørnet room" and will also be live streamed. The presentation will be delivered by General Oceans President Atle Lohrmann and CFO Anton Van Heerden, and will be followed by a Q&A session. Questions may be submitted in advance to investors@generaloceans.com or asked live during the session.

To attend in person or to watch the live stream, please register via the following link: https://qcnl.tv/p/v49Wf2oLz6PedkgMs2r2Bw. A recording of the presentation and the Q&A session will be published on the Company’s website.

For further information, please contact: Rachel McAlpine, Group Marketing Manager at General Oceans, investors@generaloceans.com

About General Oceans ASA

General Oceans is a global provider of advanced underwater technology delivering sensors, systems and robotic solutions used in demanding marine environments. The Group produces technology for measuring and understanding the ocean, imaging & navigation systems, and autonomous/remotely operated vehicles with associated manipulators and control systems, and delivers products to marine infrastructure, defense and ocean science Underwater acoustics is the core of the Group's technology, complemented by optical technology, environmental sensors and software capabilities.

This information is considered to constitute inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to article 17 of MAR and section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Rachel McAlpine at 7:00am CEST 13th August 2026. This announcement contains forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “strategy”, “intend”, “estimate”, “will”, “may”, “continue”, “should” and similar expressions. Such statements are based on current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ materially from those expressed or implied in these statements.