Arctic Bioscience - Share Issue/Capital Change 2023

Arctic Bioscience - Exercise of share options and issuance of shares

Daniele Mancinelli, CTO in Arctic Bioscience, has exercised 50.000 share options

at a strike price of NOK 9,845 per share.

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

by the Company's General Meeting on 5[th] May 2022. Following the capital

increase, the Company's shares outstanding will be 24.425.719 shares.

After exercise of share options and the issue of new shares, Daniele Mancinelli

will hold 56.840 shares and 51.570 share options in Arctic Bioscience

personally, and 76.180 shares indirect through 60% ownership in Futuron AS.

Notification of transactions by person discharging managerial responsibilities

is attached hereto.

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 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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