Arctic Bioscience — AGM Information 2021

Nov 10, 2021

Arctic Bioscience: Minutes from EGM - Marita Holstad elected to Board

Arctic Bioscience: Minutes from EGM - Marita Holstad elected to Board

An extraordinary general meeting of Arctic Bioscience AS was held on 9 November

2021. All items on the agenda were approved by the Extraordinary General

Meeting.

Included on the agenda was the election of Marita Holstad as new board member.

Marita Holstad has a broad background from both the Norwegian and international

pharmaceutical industry. She has significant experience from operational

management positions in Norway, UK and the US, and currently holds position as

VP, Medicine Commercialization Leader in GlaxoSmithKline (GSK), based in

Chicago, IL. She will bring strategic management experience from both the

development and launch of pharmaceutical products within dermatology and

psoriasis.

Chairman Harald Nordal comments:

"The development of pharmaceutical products requires a long-term perspective. It

demands good knowledge, solution-oriented talents and not least an ambitious

cross-functional team and inspiring leaders with visions and networks that can

be translated into clear operational goals. It is important to have a broadly

composed board that can help navigate towards long-term results for patients,

investors and other stakeholders, and it is a pleasure to have Marita joining

Arctic Bioscience on this journey."

Marita Holstad comments:

"My excitement for Arctic Bioscience is multi-faceted. In general, it is

exciting to join a Norwegian biopharmaceutical company, and it is especially

exciting that the company uses marine resources to help develop treatments for

some of the world's most widespread diseases such as psoriasis as well as

extremely demanding diseases such as dementia and Alzheimer's. And of course, I

am very proud that the company is locally anchored in Sunnmøre yet has big

global ambitions.

Ever since I entered the Norwegian pharmaceutical industry back in 2000, I have

had a desire to make a positive contribution - both in improving patients access

to better medications, but also in helping young talents to learn about this

industry and what it has to offer. Unfortunately, the industry in Norway has

contracted over the years, while at the same time the need for continued efforts

to conduct research and development has increased. Therefore, it is very

rewarding to be able to contribute my experience to the development of Arctic

Bioscience, and especially because it is locally based in my home region."

Minutes of the meeting and results of voting are attached and can also be found

on the company's website www.arctic-bioscience.com.

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Danielle Glenn

CFO of Arctic Bioscience AS

Mobile: +47 909 98 201

Email: danielle@arctic-bioscience.com

About Arctic Bioscience

Arctic Bioscience is a biotech company developing pharmaceutical and

nutraceutical products based on the unique properties of herring roe oil,

composed of complex bioactive marine compounds, including lipids essential to

maintaining cell membranes.

The company's primary focus is developing a novel drug candidate (HRO350) for

mild-to-moderate psoriasis, a large global patient population where there is

substantial need for effective, convenient and cost-effective new medicines with

beneficial safety profiles.

Nutraceuticals from Arctic Bioscience are sold worldwide as bulk ingredients to

other companies making dietary supplements (B2B) and as finished goods under the

ROMEGAT brand (B2C), with significant expansion potential all channels and

regions. The nutraceutical products contain lipids which contribute to the

normal functioning of brain, heart and vision.

To support its long-term growth strategy, Arctic Bioscience is planning a state

-of-the-art manufacturing facility in Ørsta. Easy access to the raw material and

proprietary production processes will increase control of the value chain,

improve margins and enable large-scale, high-quality manufacturing.

Arctic Bioscience is led by a highly competent team with significant expertise

developing marine oils and extensive experience from some of the world's leading

pharmaceutical, technology and financial services companies.