AQUA BIO TECHNOLOGY ASA: FURTHER INFORMATION ABOUT THE SUBSEQUENT OFFERING

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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR HONG KONG OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange notice by Aqua Bio Technology ASA ("ABT" or the "Company") published on and on regarding a private placement with gross proceeds of NOK 11.735 million (the "Private Placement") and a contemplated repair issue following the Private Placement (the "Subsequent Offering"). Reference is further made to the general meeting's resolution to increase the share capital through the Private Placement and to authorise the board to resolve the share capital increase pertaining to the Subsequent Offering, as published on . On , the board resolved a conditional share capital increase pertaining to the Subsequent Offering pursuant to the above-mentioned authorisation.

The launch of the Subsequent Offering, as described below, is subject to approval of a prospectus (the "Prospectus") by the Norwegian Financial Supervisory Authority and publication of the same. The Prospectus is expected to be published on or about .

The Subsequent Offering comprises an issuance of up to 220,500 new shares in the Company (the "Offer Shares"), each with a par value of NOK 2.50, and at a subscription price of NOK 2.50 per share, resulting in gross proceeds of up to NOK 551,250. Each Eligible Shareholder in the Subsequent Offering will also receive one (1) warrant ("Warrant") per Offer Share subscribed and allocated in the Subsequent Offering. Each Warrant shall give the right to require issuance of one additional share in the Company in the period between from and including to and including against a cash deposit of NOK 2.50 per share.

The Subsequent Offering will be directed towards Eligible Shareholders, being the Company`s shareholders as of , as registered in the VPS on , except (i) shareholders offered to participate in the Private Placement, and (ii) shareholders domiciled in a jurisdiction where such offer is illegal or require submission, registration or other similar action (the "Eligible Shareholders").

The Eligible Shareholders will be granted approximately 0.8644 non-tradable subscription rights ("Subscription Rights") per share held as of , as registered in the VPS on . Each Subscription Right will give a preferential right to subscribe for and be allocated one Offer Share. The number of Subscription Rights issued to each Eligible Shareholder will be rounded down to the nearest whole number of Subscription Rights. Oversubscription will be allowed. Subscription without Subscription Rights will not be allowed.

The Subscription Rights will be credited to the VPS account of each Eligible Shareholder at the start of the subscription period in the Subsequent Offering.

The subscription period in the Subsequent Offering commences on at 09.00 hours and expires on at 16.30 hours.

Shareholders that pre-committed to subscribe for shares in the Private Placement will on a pro rata basis (based on their subscription commitment) have a preferential right to subscribe for Offer Shares that are not that are not initially subscribed by the Eligible Shareholders pursuant to exercise of Subscription Rights. If the full number of Offer Shares are not allocated pursuant to the above, the remaining Offer Shares may be allocated to the Eligible Shareholders who have over-subscribed on a pro rata basis based on the number of Subscription Rights exercised by the subscriber.

Further information about the Subsequent Offering will be available in the Prospectus.

For further information, please call Arvid Lindberg, Head of sales and marketing, telephone +47 9824 5410 or arvid@aquabiotech.no.

Aqua Bio Technology (ABT) is developing and commercializing sustainable biotechnology for use in skin care products. ABT's cosmetics ingredients are highly effective and they provide the cosmetics industry with natural alternatives to traditional ingredients. ABT is also marketing and distributing natural skin care products developed by partners towards consumers and professional users. Aqua Bio Technology is listed on the Axess market of the Oslo Stock Exchange.

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

IMPORTANT INFORMATION This communication may not be published, distributed or transmitted in the United States, Canada, Australia, Japan or Hong Kong. These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of the Company in the United States or any other jurisdiction. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities of the Company have not been, and will not be, registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to "qualified institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No public offering of the securities will be made in the United States.

In any EEA Member State that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the extent implemented in any relevant Member State) and includes any relevant implementing measure in the relevant Member State.

In the United Kingdom, this communication is only addressed to and is only directed at Qualified Investors who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as "Relevant Persons"). These materials are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.

The Company expressly disclaims any obligation or undertaking to update, review or revise any statement contained in this announcement whether as a result of new information, future developments or otherwise.

The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

Click here for more information: https://newsweb.oslobors.no/message/469252

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