Axxis Geo Solutions ASA – Disclosure of major shareholding

Reference is made previous stock exchange releases by Axxis Geo Solutions ASA in connection with the conversion of debt as part of the reconstruction of Axxis Geo Solutions ASA. As a result of the debt conversion, Lehmkuhl Capital AS will receive 241,957,938 shares in Axxis Geo Solutions ASA, corresponding to approx. 12.55% of the company's outstanding share capital and voting rights. Lehmkuhl Capital AS has further entered into an agreement to sell these shares through an investment bank, which will be carried out immediately following receipt of the shares. Consequently, Lehmkuhl Capital AS will not own any shares in Axxis Geo Solutions ASA after the transaction has been completed.