Aqua Bio Technology — Board/Management Information 2024

Oct 22, 2024

Aqua Bio Technology ASA: New CEO appointed

Aqua Bio Technology ASA: New CEO appointed

22.10.2024 10:15:05 CEST | Aqua Bio Technology ASA | Additional regulated

information required to be disclosed under the laws of a member state

Oslo, 22 October 2024: Aqua Bio Technology ASA ("ABTEC" or "the Company") is

pleased to announce that Fredrik W. Henriksen has been appointed Chief Executive

Officer of the Company. Mr. Henriksen assumes his position on 1 December 2024,

and replaces Håvard Lindstrøm, who has served as CEO for more than 3 years.

"Håvard Lindstrøm started as CEO in 2021, when ABTEC had less than NOK 2m in

revenues. The Board would like to thank Håvard for leading the expansion

strategy of ABTEC over the last 3 years and growing the business from 2 small

entities to 16 subsidiaries today with a consolidated revenue stream of more

than NOK 500m.

At the same time, we are very pleased to announce that Fredrik Henriksen has

accepted to sign on as our new CEO as the ABT Group is entering a new commercial

phase to utilize market potential both in B2B and B2C/D2C channels and value

chain optimalization, after a period of acquisitions and impressive expansion"

says Jon Olav Ødegård, Chair of the Board of Aqua Bio Technology ASA.

Mr. Henriksen has since 2016 served as Commercial Director in Norengros. He has

also 15 years in different start-ups prior to working within the sales and

distribution industry.

"Mr. Henriksen has a long and proven track record and is recognized as a solid

leader with distribution, strategy implementation and business development. I am

confident that he will further strengthen the company's great platform of

business areas and utilize opportunities for further growth in our value chain",

Mr. Ødegård continues.

"It's an honor for me, and I am proud to take over as CEO of Aqua Bio

Technology. I have already had the chance to follow the recent developments in

ABTEC and know the potential that lies in this organization and the vertical

integration of this industry. Executing on ABTECs strategy and growth plan will

be my single most important task to increase value for our customers and

shareholders", says Fredrik Henriksen.

For further information, please contact:

Jon Olav Ødegård

Chair of the Board of Directors

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

DISCLOSURE REGULATION

This information is subject of the disclosure requirements pursuant to section

of 5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Jon Olav Ødegård, Chair of the Board of Directors, +4793632966,

joo@hofsethbiocare.no

ABOUT AQUA BIO TECHNOLOGY ASA

Aqua Bio Technology (ABT) is developing and commercializing sustainable

biotechnology for use in skin care products. ABT's cosmetics ingredients are

highly effective and they provide the cosmetics industry with natural

alternatives to traditional ingredients. ABT is also marketing and distributing

natural skin care products developed by partners towards consumers and

professional users. Aqua Bio Technology is listed on Euronext Expand.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847556/18291121/5145/Download%20announce

ment%20as%20PDF.pdf