Hofseth Biocare ASA: HBC ANNUAL REPORT 2022

The Board of Directors of Hofseth BioCare ASA (“HBC”) has approved the financial statements for 2022 and the Company has today published the Annual Report and Sustainability Report for 2022.

Please find the Annual Report and ESG Report attached.

For further information, please contact:

Jon Olav Ødegård, CEO of Hofseth BioCare ASA

Phone:

E-mail:

About Hofseth BioCare ASA

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator for new pharmaceutical drug leads. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies ongoing in multiple clinics and university research labs. Lead clinical and pre-clinical candidates are focused on developing an oral treatment for inflammatory disease driven by eosinophils (a type of white blood cell). Clinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung").

Other leads are focused on the protection of the Gastro- Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotizing enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through an innovative hydrolysis technology, HBC can preserve the quality of the lipids, proteins and calcium from fresh salmon off-cuts.

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Ningbo, New Jersey and Menlo Park, CA.

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

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