ABS – Exercise of share options and issuance of shares

Ole Arne Eiksund, outgoing CEO of Arctic Bioscience has exercised 76,180 share options at strike price NOK 9.845.

The Board of Directors will issue the shares, pursuant to authorization granted by the Company's Annual General Meeting. Following the increase, the Company's shares outstanding will be 24,375,719 shares.

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.