Arctic Bioscience — Share Issue/Capital Change 2025

Feb 3, 2025

Arctic Bioscience - Board approval of share capital increase related to conversion of debt

Arctic Bioscience - Board approval of share capital increase related to conversion of debt

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

30th January 2025 regarding exercise of right to convert debt and corresponding

issuance of new shares in Arctic Bioscience.

On 3[rd] February 2025, the Board of Arctic Bioscience, on the basis of a board

authorization granted by the Company's General Meeting on 26[th] April 2024,

resolved to increase the share capital from NOK 2 536 955,20 to NOK 2 581 598,00

by issuance of 446 428 new shares with a nominal value of NOK 0,10 per share, at

a subscription price of NOK 2,24 per share, including a share premium of NOK

2,14 per share. Further, the Board resolved to increase the share capital from

NOK 2 581 598,00 to NOK 2 668 934,00 by issuance of 873 360 new shares with a

nominal value of NOK 0,10 per share, at a subscription price of NOK 2,29 per

share, including a share premium of NOK 2,19 per share.

The total amount allocated as share premium is NOK 2 868 014,32. The total

subscription amount is NOK 2 999 993,12. Following the registration of this

share capital increase in the Norwegian Register of Business Enterprises, the

Company's share capital will be NOK 2 668 934 divided into 26 689 340 shares,

each having a nominal value of NOK 0,10.

Minutes from Board Meeting and statement regarding capital increase are 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

E-mail: christer@arctic-bioscience.com

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.