Welcome to this Q1 presentation of Argeo, one of the most exciting small cap companies in the Norwegian market at the moment. I'm the company's Investor Relations, Ole Eikeland from CorpCann. The presentation will be held by the company CEO, Trond F. Crantz, and CFO, Odd Erik Rudshaug. Also on the call, Haval Saltvedt from CorpCann. Regarding the Q&A session afterwards, you can send questions during the presentation using the questions chat function. You can post questions in both English and Norwegian. The presentation will also be recorded and published on the company's webpage later today. That's all from me for now. Trond, the floor is all yours. Thank you, Ole. Welcome to our first quarterly presentation of Argeo. I want you to take note of our disclaimers. It's been an eventful quarter, to say the least. We have carried out a successful and oversubscribed private placement of NOK 175 million with high-quality investors. Argeo listing on Euronext Growth 26th of April. Ticker Argeo. We have expanded our market from our traditional business of onshore shallow water EPCI business to deeper water, establishing a U.S. presence, opening our first office in Houston, and growing this market in deeper water internationally. We have just announced, in addition to our already purchased Hugin system, ordered two identical SeaRaptor 6000 units targeted for international deep water market. The first SeaRaptor will have delivery in Q3, Q4 2021. The second SeaRaptor, the one we actually ordered first, will be delivered in Q1 2022. Operationally, all our robotic systems presently being used, both surface and deep water, are in use in parallel, in fact, for a major oil company in Norway. Secure nearly full project backlog for Q2, guiding NOK 15 million-NOK 20 million for Q2, maintaining our 2021 guiding of NOK 70 million-NOK 80 million. We experience good market traction and interest from significant clients in oil and gas, EPCI, and offshore wind segments. Also detect interest from international customers including geomarkets such as West Africa, Asia Pacific. Technology and engineering is moving forward with good pace, establishing a framework for the company's revolutionary ocean space digital twin solution, which we have working title Digital Ocean Space. We are working now signing up several pilot customers for this initiative. The Q1 was mostly spent transitioning the company from existing business to new business. The effect of this is a full order book for Q2. It involves taking on board a lot of new and advanced equipment training and not least, the financials that we just spoke about. Our key message is basically our mission. It's to transform the ocean survey and inspection industry using high capability AUVs and robotics. This, of course, will significantly increase the efficiency and the quality of the data that we provide our clients with. Finally, substantially reduce the CO2 footprint for the entire industry and our customer. Our slogan, faster, better, greener, and at a lower cost, it's definitely something we pride ourselves with. How we do this? We have existing players, competitors that do several of the things that we do on shallow water with traditional vessels or ROVs. This we do with AUVs and subsea robotic systems. The result of this is a lower day rate, definitely a climate neutral CO2 low footprint, high data quality, and of course, as these are not connected to the surface, this is done a lot faster than traditional activities. We are an experienced management team. All of us more than 20 years from companies like Schlumberger, PGS, CGG, RXT, and so on. Both operationally, technically, and financially, we have the experience needed to bring into creation our business plan. Our focus are these four main segments. Installations and construction, Offshore Wind, which is a growing, very interesting market for us, obviously, both shallow water and the deeper water. Oil and Gas, mainly survey and inspection. Of course, the growing Deep-Sea Mineral segment, where some of our robots already have signed contracts for next year. We started in 2017 with a focus on robotics and data management, digital representation of what we acquire to reduce risk for the customers. We recently purchased a Hugin AUV system to an attractive price. We have ordered two identical SeaRaptor 6000 AUVs. The first one with delivery in Q4, and the second one delivery Q1 2022. We assigned a multi-year campaign contract worth NOK 30 million-NOK 40 million in the mineral exploration market in the Asia-Pacific, starting in February 2022. These units are obviously also being tendered for projects internationally, Asia-Pacific, Europe, and the U.S. Sustainable development goals. We focus in all our operations to reduce carbon footprint when we are active acquiring data for our customers, turning traditional existing business over to a fully robotic and digital business. It's been carried out in Q1. The result of this is a lot of activity now in Q2. In fact, it started tail end of Q1, where we are involved with several projects in the construction and installation market. We are tendering internationally for offshore wind, mainly in Europe, where we are offering an integrated robotics and geotechnical solution for our clients. Oil and gas. We have all our robotics systems, our deeper water Hugin systems, our Mariner systems, and drone systems involved in data acquisition for a major Norwegian oil client, which we now see completed in Q2 and with a possible extension. Deep-sea minerals, a market segment moving forward. We experience interest from international clients as well. We have already agreed to this first contract for the SeaRaptor, which will be a multi-year campaign in the Pacific area. We are also tendering on other projects in Southeast Asia, and we are ready with all of these units for next year campaign on the Norwegian Continental Shelf. Our guidance for the year is maintained NOK 70 million-NOK 80 million. For Q2, to reiterate, guidance of NOK 15 million-NOK 20 million. These are our tools. Basically, we replace a lot of vessel activity by using various forms of robotic systems, either deep-sea going robots like the AUVs from Kongsberg and from Teledyne. We are involved with a project which is moving forward nicely, which is the Eelume subsea hibernating inspection robot, which is a light intervention activity. The two ordered SeaRaptor 6000-meter autonomous vehicles are highly specified with all of the tools and sensors that is available in today's market. This will serve to provide our customer with high-resolution data at 6,000-meter depths. Additionally, we can run these systems in parallel. It's a homogeneous system which going from one unit to two unit increase or nearly doubles the footprint on the seabed with the same resolution. Factory acceptance test for SeaRaptor number one is Q3 2021 into operation in Q4. The second one, factory acceptance test is in Q1 2022. We are mobilizing for the Asia-Pacific DSM campaign more or less directly from factory acceptance. We also do robotics on the surface. Obviously, a little different target. These are mainly meant for shallow water inspection and survey, typically from 60 meters and shallower. A very exciting product and project we are working on with the Norwegian Maritime Robotics is a specified long-endurance surface robot which will when finished, be able to run as mission control from onshore. In fact, from the office. It's highly specified with several tooling options, moon pools, lifts, et cetera. Most importantly, it have an endurance of 30 days uninterrupted survey. When we are talking about continent to continent survey capabilities, this is one of these assets. Obviously, this can link up to our subsea AUVs as well, serving to run this entire operation completely unmanned. Just a few words on the Eelume project. We are very excited about this. It will be a combination between ROVs, AUVs, and a hibernating platform. Basically a subsea supercharging, mission controlled, obviously from onshore, and highly modularized so that we can change out data sensors, et cetera, depending on the client's needs and project requirements. This will be ready for us Q1 2022. Technology and engineering, moving forward with good pace. We are working on sensory systems that open up new markets for us, all AUV or robotics tooled. Basically, this gives us market openings that we otherwise would not be able to get into without them. It's a business-driven development that we are working on. On the left-hand side, we see the pipeline and cable tracker system that we are working on to implement in the AUVs. We have a new program for what we've working title called Mineral Hunter. Mineral exploration and environmental impact is going to require a lot of data done properly. One of these data sources where we can characterize the deposits are important. This is what we are working there. The Mariner LE, so it's for long endurance, should be ready late July, beginning of August this year, and being tendered for operations as we speak. Obviously our biggest project campaign is our digital twin called the Digital Ocean Space which is a time machine of data for the customer that can live with the project from its initial start to decommissioning. It also includes a robotics simulator that serves to optimize our operations. In summary, we shall be faster and more cost-effective with our robotic solutions, significantly reduce emissions. AUVs provide more effective data acquisition, and obviously being closer to the target, this also improves quality greatly. Now I will pass the word over to Odd Erik, our CFO for the financials. Thank you. Thank you, Trond. As we have heard earlier, Q1 has been a transition quarter for us with the delivery of equipment and preparing for a busy Q2. The increase in employee expenses and on other operating expenses compared to Q1 in 2020 is due to this ramp up. Our EBITDA in the first quarter this year is -2 million NOK, and we have a loss of 1.9 million NOK. Intangible assets is 3.4 million NOK, and this is a capitalized cost related to the development of the 3D geological modeling system that we have. As we have heard earlier, we purchased a used AUV in December last year. This was transferred to the joint venture we have with Multiconsult earlier this year. In the balance sheet it was included in property plant and equipment in the end of 2020, but has been moved now to investment in joint venture where we show our 50% ownership in this joint venture. Equity of NOK 4.3 million in the end of March 2021. We raised NOK 175 million in new funding in April. This capital raise is not included in this balance sheet. We have NOK 6.6 million in the long-term interest-bearing debt. All this is from Innovation Norway, and it is repaid over approximately five years from now. A few words about the cash flow statement. We have a few large amounts here. This AUV, which we have talked about, was invoiced to us in the end of last year and paid in January this year. That is the reason for this NOK 12.4 million change in the current liabilities in this quarter. The transfer of this AUV to the joint venture has also cost a couple of significant amounts under the investing activities, where we show the sale of the AUV to the JV and then correspondingly, its investment in a joint venture with the concept. Due to pure-play and light business model, we require a relatively low utilization on the AUV fleet to be break even. As you can see in the graph on the top there, we can go down to approximately 20% utilization and still be break even on net profit, and we will still have a positive EBITDA on NOK 26 million. This is for 2022, which is the first year we have with full operation. In the second graph, we have estimated the payback time we have for an investment in a new AUV. If we, for example, look at the 50% utilization number, the payback here for such an investment will be approximately two years. We open up for questions. Hello. Yes. Thank you for a good presentation, both of you. We've got some questions in. You're guiding a revenue of NOK 15 million-NOK 20 million in this second quarter and NOK 70 million-NOK 80 million for the whole year. How comfortable are you about this guidance? Well, second quarter is ongoing. It's a very busy quarter for us, a result of transforming from where we came from to the new business of robotics and using the assets that we purchased. The Q2 guidance, we feel comfortable, but we have put in a range there, hence the 15-20. Yeah. Sometimes we see potential with expansion. It will be more or less a question of whether or not we can squeeze the project book for expansions. Regarding the guidance, is it possible to give more color on how much of Q2 is covered by backlog and how of the NOK 15 million-20 million revenue guidance is already realized the revenue, and how much is new work? Well, first of all of what we do in Q2 is new work. As I said, we acquired all of this new technology. Q2 is a result of backlog built from sales in Q1. Hopefully, that answers the question. It's backlog, ongoing project. You recently ordered two AUVs, which is a major investment. Can you run us through the business rationale behind these orders. Are you looking at adding even more going forward? We have a business plan, which is only founded on the fact that we are expanding from a national player to an international player. This means that we need to be able to strategically place high-capacity assets around the world's geo markets. We've shown all of this effect for the first one that we acquired with contracts in the Pacific. Now we are targeting more of the U.S. market. We are receiving interest in Africa. We see other opportunities as well. It is a planned expansion of the fleet, and of course, we will be strategically opportunistic for other possibilities as well going forward. Could you tell us a bit more about the main drivers in the market? Well, I would say probably the ocean space is the most expanding market in anything where we do business in the world today. As I said, there is a reason why we have the four main verticals. When we started Argeo, it was with a thought that. The performance of the company should not be driven by one commodity, for instance, the oil price. Our workflow changes very little whether or not we deliver a project for EPCI project, wind farm project, oil and gas inspection, or even deep sea mineral. Some of the data sensor changes, some of the end client deliverable changes, and of course, something on the sales front, but our workflow is completely the same. That's what gives us the robustness edge, shall we say. Interesting for us, of course, to see that many of the larger companies are now wanting to do more of the same thing. How is the competitive landscape? Well, the competitive landscape today is driven by a lot of traditional activity, AKA vessels, ROV solutions, but there are also players, of course, having adopted AUVs, focusing on singular vessel-driven AUV systems. It's a massive market. We are talking about over NOK 20 billion each year in acquiring high-quality data worldwide. Competition is always good. Where we see competition going forward is more from new companies, such as ourselves, with good ideas, and perhaps transition for some of the existing ones. You're currently targeting four different market segments. Where do you see the most activity and opportunities going forward? Well, we have a lot of experience in EPCI. It's where we've done most of the projects over the last couple of years. It's a very complex market, but probably the most interesting market is for offshore wind, obviously growing at a rapid rate worldwide. We believe that inspections and monitoring in the oil field sector should be done with robotics rather than traditional vessels and so on. We think this market will be coming, and in fact, current customers already prove that the interest is there. You can see that the expansion in deep sea minerals, there's going to be several years still until actual extraction of minerals will take place. Until this time, there's a lot of action going on in terms of making sure that decision-makers have good data to evaluate various licenses and so on. That's where we contribute. When the new markets opens for licensing, in Norway, that's scheduled for 2023, we think it's going to be a big market there in not only contract data acquisition, but also multi-client, which we think we will have a leg up in our previous experience. What is the expected EBITDA margin on the NOK 70 million-NOK 80 million in guiding revenue for 2021? I don't think we will do any guidance on that now. Okay. What is the expected range of revenues, high, low, for 2022? Say again, Ole? Yeah. What is the guidance- I think that we can come back to these numbers in the next quarter when we have a bit better insight into 2022, our activity and projects and so on. It's a bit early for us. Yeah. Understand. Does Argeo get any financing credit in connection with the ordering of new AUVs? No comment. Okay. Yeah. No problem. We're closing in on the questions. We have a few more. What currently is the biggest risk factor for the company? Well, we have spent nearly two years testing various types of similar technology. There is a reason why we ended up where we are now. We feel comfortable in terms of the technology implementation, our delivery, basically our digital plugin to the robotic systems. Therefore, the biggest risk is sales. To compensate and to mitigate that risk, we have launched a large recruitment campaign to staff up our commercial organization, both nationally here in Norway, in Asker, but also in the U.S. We believe that we will have a good traction from Q3 onwards. Well, so far it's been good. It's looking good. One last question. If we put on our long-term glasses, in five years, where will Argeo be then? Well, one thing for sure is that we firmly believe that acquiring data from the oceans are going to be more and more robotics. We are just in the start of a robotics and digital mega-trend. We already see AUVs with potential range of 1,500 to 2,000 kilometers. We are talking continent-to-continent data acquisition platforms without even having contact with anything on the surface. Definitely this is what we see being the future. Additionally, I think more and more UAVs or hibernating robotics in inspection and maintenance and monitoring is going to be part of everyday field operations. We think we are in a perfect position to capitalize on this going forward. All right. We have no more questions, and I would like to thank the both of you for a good presentation. Also thank the people that have been listening in. See you next quarter. Bye for now. Thank you, everyone. Thank you.