Arctic Bioscience - Capital/Financing Update 2025

Arctic Bioscience - Exercise of right to convert debt and issuance of shares

With reference to the stock exchange notice of 13[th] of January 2025 regarding

new financing via a convertible loan. A group of investors, which participated

in the investor consortium contributing to the convertible loan of total NOK 15

million, has exercised their right to convert the outstanding debt into shares.

Debt that will be converted amount to NOK 3 million. The conversion price is set

at a range of NOK 2,24 to NOK 2,29 per share based on the received conversion

notices.

The Board of Directors will issue the shares, pursuant to authorization granted

by the Company's General Meeting on 26[th] April 2024. Following the capital

increase, the Company's shares outstanding will be 26.689.343 shares.

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

-12 of the Norwegian Securities Act.

For more information, please contact:

Christer L. Valderhaug

CEO

Phone: +47 920 84 601

About Arctic Bioscience

Arctic Bioscience is a biotech company developing and commercializing

pharmaceutical and nutraceutical products based on unique bioactive marine

compounds.

The company is developing HRO350 - a novel oral drug candidate. 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.

Nutraceuticals from Arctic Bioscience are sold globally as bulk ingredients as

well as finished goods under the ROMEGA® brand.

Arctic Bioscience is led by a highly skilled team of talents with diverse and

highly relevant background.

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