ABS – Granting share options to new CEO

Reference is made to the stock exchange notice on 13 January 2022 on the appointment of Christer Valderhaug as the new CEO in Arctic Bioscience AS (the “Company”).

The Board of Directors of Arctic Bioscience AS has resolved to grant share options to the new CEO, and Christer Valderhaug will on 1 March 2022 be awarded 250,000 share options, at an exercise price of NOK 17.798 per share. Each option, when exercised, carries the right to acquire one share in the Company.

The share options may be exercised when the share price is above NOK 31 for 10 executive trading days on Euronext. Duration of the options is set to three years from the start of the exercising period. Shares acquired from exercise of the options are subject to a 3-year lock in.

Following the transaction, Christer Valderhaug will hold 250,000 share options in Arctic Bioscience AS.

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 the unique properties of bioactive marine compounds. The company nutraceutical brand Romega contains lipids that are essential to maintain cell membranes, contributing to normal functioning of brain, heart, and vision. Romega is sold globally as bulk ingredients to other companies making dietary supplements, and as finished goods.

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 with beneficial safety profile.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.