Aqua Bio Technology — M&A Activity 2023

Oct 30, 2023

Aqua Bio Technology ASA:  Skinteam Norge AS enters into new partnership

Aqua Bio Technology ASA:  Skinteam Norge AS enters into new partnership

30.10.2023 11:52:01 CET | Aqua Bio Technology ASA | Non-regulatory press

releases

Following Aqua Bio Technology ASA's ("ABT") acquisition of Skinteam Norge AS ("

Skinteam"), Skinteam has signed the first spa & skincare salon in Bergen.

Vannkanten Spa and Bodycare opened its doors in 2001, and is the place for those

who want quality in combination with a bit of luxury and well-being. Vannkanten

Spa & Bodycare offers everything in skin and body care, and can offer both

facials, pedicures, massages and spa treatments. Following this signing Skinteam

currently has 17 skincare and hairdressing salons.

"The spa, which is a high-end spa located in the Vestkanten shopping center in

west Bergen, means that we are now represented in all of Bergen's districts. So

far, almost all the salons that have been presented with our concept have signed

an agreement with us, so it is clear that independent salons, spas and

hairdressing salons find it interesting to become part of a larger unit and

where we gather under the same umbrella. This makes us stronger together in an

increasingly challenging competitive everyday life that requires more and more

to succeed as a small skincare salon, says Per Egil Borge, co-founder of

Skinteam"

See website: www.spabodycare.no - http://www.spabodycare.no

About Skinteam:

Skinteam is a retail chain that targets independent skincare and hairdressing

salons with "one stop shop" solutions. Skinteam offers a fully integrated

operating system for independent salons: white-label online store, membership

club, sales training, product training, advertising, AI app and high-quality

products. Skinteam was built up by the SATS founders Per Egil Borge and Bjørn

Sigurd Johansen. Skinteam offers independent salons a range of services,

enabling them to improve profitability without Skinteam assuming risk on the

salons' operational side.

All affiliated salons undertake to have Skinteam as the main supplier of

products, where approx 80% of sales over the counter and 100% of professional

products used in treatment are purchased from Skinteam. All income is channeled

through Skinteam centrally and paid to the partner salons in arrears enabling

Skinteam to capitalize on the growth in line with the salons' results while

taking limited liquidity risks.

Skinteam today has more than 1,000 paying members according to the model that

was developed in SATS. The memberships are either basic memberships or

memberships that include monthly treatments - at a higher price. All memberships

have a commitment period of 12 months and are used across the verticals. The

membership club gives Skinteam and the partner salons higher income and in

addition provides recurring income.

***

For further information, please contact CEO Håvard Lindstrøm mobile phone +47

941 32 288.

Aqua Bio Technology (ABT) is developing and commercializing sustainable

biotechnology for use in skincare 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 skincare products developed by partners towards consumers and

professional users. ABT's focus on commercialization and development of natural

ingredients and natural skincare products has been, and will continue to be, an

important part of the Company's strategy going forward. Aqua Bio Technology is

listed on the Euronext Expand market of the Oslo Stock Exchange.

DISCLOSURE REGULATION

This information is subject of the disclosure requirements pursuant to section

of 5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Håvard Lindstrøm, 004794132288, hl@aquabiotech.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/17847556/2707/3791/Download%20announcement

%20as%20PDF.pdf