Arctic Bioscience - Share Issue/Capital Change 2022

ABS - Share Capital Increase Registered

Reference is made to the stock exchange release published by Arctic Bioscience

23 February 2022 regarding Board approval of share capital increase related to

the exercise of share options and corresponding issuance of new shares in Arctic

Bioscience.

The share capital increase has now been registered with the Norwegian Register

of Business Enterprises. As a result, the new share capital of Arctic

Bioscience has increased from 2,429,953.90 to 2,437,571.90, divided into

24,375,719 shares, each having a nominal value of NOK 0.10.

For further information, please contact

Christer L. Valderhaug, CEO - Arctic Bioscience

About Arctic Bioscience

Arctic Bioscience is a biotech company developing and commercializing

nutraceutical products based on herring roe oil. Herring roe oil contains lipids

that are essential to maintain cell membranes, contributing to normal

functioning of brain, heart, and vision. Nutraceuticals from Arctic Bioscience

are sold globally as bulk ingredients to other companies making dietary

supplements, and 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.

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

herring roe as raw material. HRO350 is being developed for treatment of mild-to

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

medicines. 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.

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