Aqua Bio Technology Asa – Primary Insider Notification

Reference is made to the stock exchange notice from Aqua Bio Technology ASA (the "Company") on 11 September 2020 regarding the result of a subsequent offering (the "Subsequent Offering"). In the Subsequent Offering, investors who participated in the private placements announced on 17 and 18 August 2020 was granted a right to subscribe for shares that were subscribed pursuant to subscription rights in the Subsequent Offering.

Reference is furthermore made to the minutes from the general meeting held earlier today, 11 September 2020, where certain members of the Company's board of directors and management were granted options. Further information on the option grant is available in the minutes of the general meeting.

The following primary insiders have subscribed for shares in the Subsequent Offering:

• Edvard Cock, chairman, has through his controlled company Blixen Invest AS subscribed for 22,647 shares in the Subsequent Offering. Following completion of the Subsequent Offering, Edvard Cock and related parties will hold 1,280,793 shares in the Company and 499,998 share options.
• Roger Hofseth, director, has through his controlled company Finnvik Eiendom AS subscribed for 64,758 shares in the Subsequent Offering. Following completion of the Subsequent Offering, Roger Hofseth and related parties will hold 4,014,904 shares in the Company.
• Jan Petterson, director, has through his controlled company Swelandia International AB subscribed for 57,739 shares in the Subsequent Offering. Following completion of the Subsequent Offering, Jan Petterson and related parties will hold 3,960,885 shares in the Company.
• Tone Bjørnov, director, has subscribed for 8,773 shares in the Subsequent Offering. Following completion of the Subsequent Offering, Tone Bjørnov will hold 128,203 shares in the Company and 75,000 share options.
• Espen Dahl, related party to director Kristin Aase, has through his controlled company Kjeveortoped Espen Dahl AS subscribed for 22,647 shares in the Subsequent Offering. Following completion of the Subsequent Offering, Espen Dahl and related parties will hold 1,714,058 shares in the Company. In addition, Kristin Aase holds 75,000 share options.
• Espen Kvale, CEO, has through his controlled company EK Holding Invest AS subscribe for 1,755 shares in the Subsequent Offering. Following completion of the Subsequent Offering, Espen Kvale and related parties will hold 521,755 shares in the Company and hold 500,001 share options.
• Håvard Lindstrøm, Head of Business Development, has through his controlled company Ice Capital AS subscribed for 26,319 shares in the Subsequent Offering. Following completion of the Subsequent Offering, Håvard Lindstrøm and related parties will hold 326,319 shares in the Company and hold 499,998 share options.
• Susanne Arnesen, Business Development Manager Nordic, has subscribed for 526 shares in the Subsequent Offering. Following completion of the Subsequent Offering, Susanne Arnesen will hold 6,526 shares in the Company.

For further information, please contact CEO Espen Kvale, telephone

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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 of the disclosure requirements pursuant to sections 5-12 and 4-2 of the Norwegian Securities Trading Act.