Arctic Bioscience — Board/Management Information 2022

Mar 23, 2022

Arctic Bioscience New CFO Appointed

Arctic Bioscience New CFO Appointed

Arctic Bioscience has appointed Jone R. Slinning as the Company's new CFO.

Slinning will succeed Danielle Glenn, who has accepted a position with another

company.

Slinning has a broad and long experience from various industries, including

auditing, the banking and finance sector, and different CFO positions. He comes

from the position as CFO of Cflow Fish Handling and CFO for the consolidated

Enflow Group, a company in the aquaculture industry. Slinning holds a Master of

Economics degree ("siviløkonom") from Norwegian School of Economics (NHH).

"We are very pleased that Jone has accepted the position as CFO in Arctic

Bioscience. With his background and experience we are sure that this will be a

good match for the Company in the stage that we are in, and we are certain that

Jone will complement the great team we have in Arctic Bioscience", says Christer

L. Valderhaug, CEO.

"I really look forward to being a part of Arctic Bioscience and contribute with

my knowledge and initiatives. The Company is in an exciting phase, both within

the pharma and nutraceuticals segments, and with a strong and positive growth

ambition going forward", says Slinning.

Jone R. Slinning will start in his new position 1 April 2022.

For further information, please contact

Christer L. Valderhaug, CEO - Arctic Bioscience

+47 920 84 601, christer@arctic-bioscience.com

About Us

Arctic Bioscience is a biotech company developing and commercializing

nutraceutical and pharmaceutical products based on unique bioactive marine

compounds from herring roe.

The company is developing HRO350 - a novel investigational drug candidate based

on herring roe. HRO350 is being developed for treatment of patients with mild-to

-moderate psoriasis. This is a large patient group in need of new effective

medicines with beneficial safety profile.

Herring roe contains lipids that are essential in maintaining cell membranes and

omega -3 fatty acids that contribute to the normal functioning of brain, heart,

and vision. Nutraceuticals from Arctic Bioscience are sold globally as bulk

ingredients as well as finished goods under the ROMEGA® brand. The strategy is

to switch sales from bulk to finished goods and focus markets are USA and China.

Arctic Bioscience is led by a team of highly competent people with experience in

developing marine oils and experience from global pharmaceutical companies.

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

-12 of the Norwegian Securities Trading Act.