Arctic Bioscience — Board/Management Information 2021

Oct 19, 2021

Arctic Bioscience AS - Notice of extraordinary general meeting: Marita Holstad proposed as new board member

Arctic Bioscience AS - Notice of extraordinary general meeting: Marita Holstad proposed as new board member

The Board of Directors of Arctic Bioscience AS ("the "Company") has proposed

Marita Holstad as new board member and the Board of Directors of the Company

calls for an extraordinary general meeting (EGM) for the election.

Marita Holstad has extensive experience from the pharmaceutical industry, and

is currently Global Vice President, Commercialization Leader respiratory

in GlaxoSmithKline (GSK), based in Chicago, IL. Before joining GSK,

Marita Holstad has 16 years' experience from AbbVie (previously Abbott) from

management positions in Norway, UK and the US within Immunology

across Rheumatology, Gastrology and Dermatology. Holstad holds an MBA

degree in Strategic Leadership from the Norwegian School of Economics and

Business Administration (NHH).

"Marita Holstad has an extraordinary track-record and very relevant capabilities

when it comes to developing and bringing pharmaceutical products to market,

including within the field of psoriasis. Her combined strategic, operational and

cross-functional experience is well aligned with Arctic Bioscience's roadmap

going forward. She will be a valuable addition to our board" says chairman

Harald Nordal.

The EGM will be on 27 October 2021 at 13.00 on Microsoft Teams

(link (https://teams.microsoft.com/l/meetup

-join/19%3ameeting_N2VhYzEyYzMtMDJkYS00MDVjLTk4YWQtNTc0NjZmNjAyMzQx%40thread.v2/0

?context=%7b%22Tid%22%3a%22ce618813-5158-40b5-b6d0

-2f2cd3f39b20%22%2c%22Oid%22%3a%22c61b145b-b8b6-4866-9aa5-b8de61fe1020%22%7d)).

For further information, please contact:

Ole Arne Eiksund

CEO of Arctic Bioscience AS

Mobile: +47 908 43 944

Email: olearne@arctic-bioscience.com

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 nutraceutical products contain lipids which

contribute to the normal functioning of brain, heart and vision.

The company 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 ROMEGA brand (B2C), with significant expansion potential all

channels and regions.

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.