Arctic Bioscience - Share Issue/Capital Change 2023

Arctic Bioscience - Approval of share capital increase

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

earlier today 21 April 2023 regarding minutes from the Annual General Meeting.

The Annual General Meeting resolved to increase the share capital from NOK

2 442 571,90 to NOK 2 536 955,20 by subscription of 943 833 new shares with a

nominal value of NOK 0,10 per share, at a subscription price of NOK 17,27 per

share, including a share premium of NOK 17,17 per share.

The new shares shall be subscribed by Ronja Capital II AS and the subscription

amount shall be settled by set off against the subscriber's claim on the Company

according to promissory note.

Following the registration of this share capital increase in the Norwegian

2 536 955,20 divided into 25 369 552 shares, each having a nominal value of NOK

0,10.

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

-12 of the Norwegian Securities Trading Act.

For more information, please contact:

Christer L. Valderhaug

CEO

Phone: +47 920 84 601

Jone R. Slinning

CFO

Mobile: +47 948 75 469

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 investigational 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 team of highly competent people with experience in

developing marine oils and experience from global pharmaceutical companies.

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