Arctic Bioscience — Share Issue/Capital Change 2022

Feb 23, 2022

ABS - Board approval of share capital increase related to share option exercises

ABS - Board approval of share capital increase related to share option exercises

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

22 February 2022 regarding exercise of share options and corresponding issuance

of new shares in Arctic Bioscience.

On 23 February 2022, the board of Arctic Bioscience, on the basis of a board

authorization granted by the general meeting, resolved to increase the share

capital from NOK 2,429,953.90, a share capital increase of by NOK 7,618 to NOK

2,437,571.90 by subscription of 76,180 new shares with a nominal value of NOK

0,10 per share, at a subscription price of NOK 9.845 per share, including a

share premium of NOK 9.745.

The total amount paid as share premium is NOK 742,374.10. The total subscription

amount is

NOK 749,992.10. Following the registration of this share capital increase in the

Norwegian Register of Business Enterprises, the Company's share capital will be

NOK 2,437,571.90 divided into 24,375,719 shares, each having a nominal value of

NOK 0.10.

"Minutes form Board Meeting" and "Notification of transactions by persons

discharging managerial responsibilities" are attached hereto.

For further information, please contact:

Danielle Glenn

CFO of Arctic Bioscience AS

Phone: +47 909 98 201

Email: danielle@arctic-bioscience.com

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.