Aqua Bio Technology — Investor Presentation 2016

May 11, 2016

Results Presentation First Quarter 2016

11 May 2016

Technology by nature

First quarter highlights

• Continued strong financial performance • All time high quarterly revenues; NOK 12.5 million • 49 per cent EBITDA margin
• Technology platform expanded • Two partnerships established in Q1
• Legal complaint filed by Access Business Group (affiliated to Amway) in New York

Income statement

NOK million	Q1 2016	Q1 2015	FY 2015
Income	12.5	9.1	38.9
Operating costs	-6.4	-3.9	-17.7
EBITDA	6.1	5.2	21.2
EBIT	4.7	3.6	15.4
EBT	4.6	4.1	15.0
Net result	3.4	4.1	17.4
EBITDA margin	48.9%	57.7%	54.5%

Revenue and profitability development

Revenues EBITDA

Cash development

• NOK 49.7 million cash holding per 31 March 2016
• Cash holding nearly doubled over last two years
• Q2 2015: Dividend payment of NOK 6.4 million
• Q2 2016: Proposed dividend payment of NOK 10.3

Balance sheet

NOK million	31 Mar 2016	31 Dec 2015	31 Mar 2015
Fixed assets	8.4	11.1	11.3
Current assets	83.1	75.0	67.2
- of which is cash	49.7	42.0	33.8
Total equity	80.1	76.7	70.4
Long term debt	4.9	5.0	5.6
Short term debt	6.4	4.3	2.5
Total balance	91.5	86.1	78.5
Equity ratio	87.6%	89.1%	89.7%

Cash flow

NOK million (year to date )	2015	2014
Cash at beginning of period	42.0	29.2
From operations	7.8	4.7
From investments	0.1	-0.5
From financing	-0.1	-0.1
Currency effects	-0.1	0. 5
Cash at end of period	49.7	33.8
Cash change in period	7.8	4.1

A strategy for growth

ABT's proprietary enzyme technology	Commercialized	Two american partners
	Significant commercial experience from
Third party biotechnology	pharmaceutical and cosmetics industries
Third party biotechnology	Expertise in relevant regulatory affairs and procedures	A high growth, global market seeking new and
Third party biotechnology	Global network of cosmetic ingredients distibutors	sustainable solutions
Third party biotechnology	Commercialization of new bio technology is ABT's core business

Two additional technologies secured in Q1

• Partner: AlgoSource Group of France

• Spirulsat®; substance based on bluegreen algae spirulina

• Substance has strong antioxidant properties, already in use in food supplement

• Testing and documentation of efficacy and safety initiated

• Product launch expected in Q4 2016

• No up front payment, ABT carries testing and commercialization costs, Algosource to receive royalty of future sales
• Red algae technology included in agreement to be tested at a later stage
• Partner: Zembra Ltd of UK

• Extract from abundant biomass after olive oil pressing

• Substance has exfoliating properties, already in use in several other applications

• Testing and documentation of efficacy and safety initiated
• Product launch expected in Q4 2016
• No up front payment, ABT carries testing and commercialization costs, Zembra to receive royalty of future sales

U.S. lawsuit unresolved

• Legal complaint filed by Access Business Group International (affiliated with Amway) in New York in March 2016
• 2012 contract expired at year-end 2015
• Disagreement on terms for any product after 1 January, 2016 • Access claims breach of contract, among other claims
• Court denied motion for Temporary Restraining Order against ABT
• Preliminary Injunction Hearing scheduled for 31 May and 1 June, 2016
• Out of court dialogue between the parties initiated

Outlook

• Revenue stream from Aquabeautine XL expected to remain steady in 2016
• Testing and documentation of the first third party products to be completed in Q3 2016
• New product launches expected in Q4 2016
• Near term opex will be affected by legal costs
• Additional in-licensing agreements to be expected throughout 2016

Welcome back

Results Presentation Second Quarter 2016

17 August 2016

Technology by nature