The share capital increase pertaining to the Private Placement has now been registered with the Norwegian Register of Business Enterprises. The new registered share capital of the Company is NOK 3,549,003.59 divided by 354,900,359 shares, each with a par value of NOK 0.01.

The new shares will be issued in the VPS and delivered to Hofseth AS as soon as practically possible, in order to settle the share lending agreement entered into in connection with the Private Placement.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

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

Following this transaction, James Berger owns 3,297,955 shares corresponding to 0.92 % of the outstanding shares in Hofseth BioCare ASA and share options for a further 5,351,280 shares according to the stock exchange notice of 18.10.2019.

For further information, please contact:

Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

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

Dr Hussain has significant experience working with the FDA and EMA (European Medicines Agency) throughout the development process and subsequent lifecycle management. One of his first actions with HBC has been to apply and gain approval of SME (small and medium enterprise) status at the EMA for HBC. This will enable HBC to seek scientific advice from the EMA and gain SME benefits during development activities. Dr Hussain is also working on expanding the claims for HBC’s products by leveraging existing clinical data.

HBC currently has unique structure function claims from the US FDA and qualified health claims from Health Canada for ProGo focused on benefits such as the maintenance ferritin & haemoglobin, energy, gut inflammation, and iron absorption rates. Notwithstanding this, and very encouragingly, there are strong reasons to believe there several new (and unique) claims that can be made for ProGo. Furthermore, HBC believes that a number of new claims can be made for CalGo (also known as Calcium Collagen Complex) and OmeGo (Salmon Oil), utilising existing data. For this reason, Dr Hussain will bring invaluable experience to help commercialise the existing offering swiftly to market. It has always been the company’s belief that producing natural products from fresh sashimi grade salmon would bring important health benefits to the consumer. There is no better way to highlight this than through validated health claims.

Dr Zubair Hussain says: “I am delighted to contribute to the journey in taking HBC to the next level, particularly as we accelerate to commercialise and shift from commoditised animal feed markets, towards much higher value human and pet supplement markets. I believe the addition of strategic regulatory leadership will help maximise HBC's commercial potential."

For further information, please contact:

Dr. Crawford Currie, Head of Medical R&D at Hofseth BioCare ASA
Phone: +44 7968 195497
E-mail: cc@hofsethbiocare.no

James Berger, CCO at Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smoker's lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo. HBC is listed on Oslo Stock Exchange with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com

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

The setup in Switzerland is in line with HBC's international strategy, with Switzerland being widely recognized as a major biotech and life science hub. A presence in Switzerland will benefit HBC's partnerships with leading global players based in the country as well as enable HBC to offer talents and experienced professionals’ opportunities to engage with HBC outside of Norway.

The operations of HBC Switzerland GmbH will initially deliver services to HBC related to marketing, sales and organization development, and HBC is delighted that Dr. Schaffer will assume the position of CEO and lead the build-up of the operations in HBC Switzerland next to the development of the global ingredients business.

Dr Schaffer is a highly accomplished commercial leader with over 15 years’ experience at taking scientific ingredients to market. She began her career as Head of the Scientific Department of Lipoid GmbH after attaining her PhD in Physical Chemistry at the University of Regensburg in Germany. Following this, she joined AllessaChemie as a business development manager and then was swiftly promoted to Director of Marketing and Business Development before joining DKSH in 2011. For the last seven years she has held the position of VP of Global Pharmaceuticals Industry within DKSH, where she was responsible for 26 sales teams globally, four sourcing teams and several applications laboratories. Of note she was also responsible for the Animal nutrition line with the Performance materials division of DKSH as well as nutraceuticals in various Asian markets. As such, she brings a wealth of both technical know-how and commercial knowledge and relationships to help grow HBC’s business.

Dr Tanja Schaffer says: “I am very happy to join the great team of Hofseth Biocare and getting the opportunity to further develop the market for HBC’s innovative, sustainable and science-based products. I am looking very much forward to being part of the dynamic team and to bring HBC´s science to market. I believe the product have enormous market potential to be sold globally across multiple channels in both food applications and medical nutrition.“

Dr Schaffer’s leadership is now part of a wider strategy to commercialise and grow the branded ingredients business, strategically located in Switzerland, geographically located in the centre of Europe and a global capital for life-sciences, food, and ingredients. The there is a huge potential to develop the sales of sustainable human grade ingredients in multiple categories including clinical nutrition, women’s health and fertility, GI health and sports nutrition. Unique and natural anti-inflammatory and antioxidant effect are now all the more desirable after the Covid-19 pandemic and future work will continue to show the product differentiation HBC processes. Shifting sales from the commoditised animal feed markets towards the much higher value human and pet supplement market will gather apace in 2022.

HBC has been targeted in its recruitment for best-in-class human talent from global leading companies in pharma and nutraceutical businesses to support its strategy. DKSH itself is a major part of a specialised distributor B2B strategy with HBC to help give it global reach to brands it would not otherwise touch. Dr Schaffer’s addition will also help catalyse this existing relationship even more.

Roger Hofseth says: “Hiring Tanja Schaffer is an extraordinary opportunity for HBC, and we are delighted to have her onboard. Hiring a senior leader directly from one of the world’s leading global ingredients market expansion teams, with such specialised product knowledge and sales experience is testament to the opportunity that HBC offers its customers. She will not only help develop our own brand formulations and provide deeper technical expertise but also focused on selling unique health claims with a second to none sustainability profile. Her deep understanding of what Ingredient customers are looking for will help grow our sales and further strength a close relationship with DKSH itself, which is itself purely focused on opening markets in Asia for us. Her position will also help catalyse the excellent partnership with IMCD in Europe and the Americas to expand our reach globally.”

For further information, please contact:
James Berger CCO at Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smoker's lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo. HBC is listed on Oslo Stock Exchange with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com

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

Roger Hofseth is CEO and primary insider of Hofseth BioCare ASA. After the transaction, Mr. Hofseth owns 50,000 shares privately and 51,500,000 shares through his a wholly owned company RH Industri AS, totalling 51,550,000 shares and corresponding to 14.41 % of the outstanding shares in Hofseth BioCare ASA.

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

Hofseth BioCare ASA (“HBC”) had net sales revenues of NOK 31.0m (19.9m) in the second quarter and gross operating revenues of NOK 30.0m (20.1m). For the first half of 2021 HBC had revenues of NOK 47.9m (38.6). Gross revenues in first quarter 2020 included NOK 8.2m in an insurance claim settlement. Revenues in the second quarter increased by 51 % compared to the same quarter in 2020. Adjusted for the settlement, HBC had 36% increased revenues in first half of 2021, compared to 2020.

Cost of Goods Sold (CoGS) amounted to NOK 21.6m (12.5m) in the quarter and NOK 29.9m (18.7m) for the first half of 2021. Operational profit (EBITDA) for the second quarter was NOK -14.6m (-12.3m) and NOK -33.4m (22.5m) for the first half of 2021.

Gross margin was 31 % in the second quarter, down from 38 % in the second quarter 2020, due to higher sales volumes to feed and pet food customers, even though also higher sales to human nutrition customers compared to the same period last year. We expect increased gross margin in the second half and next year. Including credit facilities, HBC had NOK 149.6m in free liquidity by the end of the second quarter 2021.

Highlights in the second quarter:

• Extended the exclusive distribution agreement with leading speciality chemicals and ingredients distributor IMCD, to include most of Europe.
• Following the granting of Qualified Health Claims from Health Canada, asserting the maintenance of healthy levels of ferritin and hemoglobin, we have now successfully identified the peptides responsible for this effect. This will enable us to develop a capsule format to target the treatment of iron deficiency anaemia.
• Synthesis of a novel compound for the treatment of eosinophilic (allergic) inflammation such as asthma. A patent has been filed and the process will be completed before year end.
• Successful oral dosing of the peptides in a proprietary animal model of inflammatory bowel disease run at Stanford University School of Medicine. Further preclinical work will start imminently with the aim to commence clinical trial work in 2022.

In the second quarter of 2021, HBC R&D delivered the following:

• The identification of the bioactive peptides in SPH that up-regulate the FTH1 gene, which encodes the heavy chain of ferritin and increases the storage capacity for iron., This results in an increase in haemoglobin to correct iron deficiency anaemia (IDA). We have completed the identification of 8 related peptides and the structures are being assessed for their novelty to enable a new patent application to be filed in the Q3/Q4. We will complete process optimization to manufacture a FTH1-enhanced SPH in the second half of 2021, which will increase the concentration of these peptides by 2x to 4x. We will also begin trials for a capsule-based product to treat anaemia soon after.
• Completion of the entire QSAR (quantitative structure-activity relationship) program of synthesis and invitro assays of 24 novel analog compounds based on the MICR-001 lead structure for asthma/COPD treatment via eosinophilia control. The lead analog has shown significantly superior activity to the original molecule (MICR-001) and we are now preparing to carry out pre-clinical trial work. A new PCT patent (US 63/211,972 06/17/2021) has been filed.
• The final House Dust Mite allergy preclinical trial to modulate eosinophilia with orally administered OmeGo at two ranging doses (high/low) will be initiated in Q3.
• Together with Stanford University School of Medicine, we successfully completed our first pre-clinical (mouse) experiment for determining the effectiveness of SPH on reducing intestinal injuries in an inflammatory bowel disease (IBD) model. A pilot experiment showed that SPH protects the GI tract from (TNBS-induced) IBD at a 1% concentration. Our collaborators at Stanford University will next run a statistically significant assay with negative control peptides along with mode of action gene and biomarker assays on serum and tissue samples.
• Successfully completed work to identify the molecular weight range of the peptides in SPH driving the reduction in IBD based on HO1 (heme-oxygenase) gene regulation activity in SPH. Further narrowing and structural elucidation work will be performed in the second half of 2021.
• Multiple assays and formulation development have been successfully carried out to significantly expand the Brilliant™ Pet Health, daily supplementation product portfolio.

For further information, please contact:

Jon Olav Ødegård, Chief Financial Officer of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smoker's lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

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

Attachment

• HBC Q2 2021 Financial Report

As a result of the transaction, Mr. Baldegger holds 700,000 shares in HBC, equal to approx. 0.20 % of the outstanding shares.

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

Highlights:

- HBC received the first Salmon Protein purchase orders from US-based organic health supplement firm Garden of Life. The Nestlé-owned company intends to launch new ProGo® consumer protein products which will be available online and for the North American markets in Q3 2021.

- Development of a pharmaceutical lead program around eosinophilia inflammation control is on-going with rapid success. We have made and tested several analog compounds of which two have shown better biological activity than the original lead MICR-001 for asthma/COPD treatment via eosinophilia control.

- Successfully completed the invitro phase of our gastrointestinal injury / inflammation therapeutic collaborative program and now progressing to a preclinical DSS-induced colitis animal model simulating the pathology of necrotizing enterocolitis (NEC) and inflammatory bowel disease (IBD).

R&D focus areas in Q1:

i) Identification of the bioactive peptides in SPH that up-regulate the FTH1 gene. The FTH1 gene encodes the heavy chain of ferritin, the storage protein for iron, and this increase has been shown to result in an increase in haemoglobin and correct iron deficiency anaemia (IDA). The identification process has led to 7 closely related peptides which are being individually elucidated for filing a new patent application. The company believes that in 2021 we will be able to carry out the required clinical trials with an IDA-Enhanced-SPH product targeted to anemia and begin the process to file for “new chemical entity” (NCE) status with the FDA.

ii) Completed the synthesis of and invitro assays for 12 novel analog compounds based on our MICR-001 lead structure for asthma/COPD treatment via eosinophilia control. One MICR-001 analog (MA-005) showed superior activity to MICR-001 and is being developed further. New patent filings are being prepared. Recruitment for hospitalized Covid-19 patients in Brazil, Mexico, Hungary and Serbia is on-going.

iii) The second House Dust Mite allergy mouse animal trial on modulating eosinophilia with OmeGo® was completed successfully and the results are being written up for publication.

iv) Successfully completed the invitro (hIESC) phase of our gastrointestinal injury / inflammation therapeutic collaborative program and now progressing to a preclinical DSS-induced colitis animal model simulating the pathology of necrotizing enterocolitis (NEC) / inflammatory bowel disease (IBD) / Leaky gut.

v) A second invitro assay for sarcopenia treatment has shown a positive dose response for SPH peptides and myostatin inhibition.

For further information, please contact:
Jon Olav Ødegård, Chief Financial Officer of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smoker’s lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

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

Attachment

• HBC Q1 2021 Financial Report

The partnership will see Catalent use its proprietary OptiGel® DR technology to encapsulate OmeGo®, HBC’s unique fish oil derived from sustainable, traceable, and fresh Norwegian Atlantic salmon. OptiGel DR technology enables an enteric release profile for softgel capsules without the need for an additional external coating, thereby employing a one-step manufacturing process, which avoids the heat and drying of the coating process that may otherwise degrade the fish oil.

HBC is currently conducting studies to assess the potential role of OmeGo® fish oil in preventing disease progression and helping to reduce inflammation, including in patients experiencing inflammation caused by COVID-19. Results are expected over the coming months and will provide wide-ranging insights on the potential of OmeGo® fish oil to help the body resolve inflammation driven by a viral infection.

“Our research into the health benefits of our unique oil has come a long way in the last 18 months, and we look forward to collaborating with Catalent, and hope to develop the partnership further, to leverage its innovative oral technologies to ensure the most efficacious delivery system,” commented Dr. Bomi Framroze, Chief Scientific Officer of HBC. “OptiGel DR will enhance the OmeGo franchise, bringing advanced delivery technology as well as raising its profile amongst global leading healthcare companies.”

“This partnership is an exciting opportunity to combine the features of a high-quality ingredient with our new OptiGel DR capsule technology to create a product that delivers optimal benefits and experience for consumers,” commented Dr. Aris Gennadios, President, Softgel and Oral Technologies, Catalent. “Our rich history and innovation in softgel technology has allowed us to create a dosage form that delivers ingredients and formulations with an enteric release profile in robust capsules, providing product performance to meet consumers’ expectations.”

OptiGel DR capsule technology was launched by Catalent in 2020 and offers innovators an opportunity to formulate products in a patient-preferred softgel dosage form with a delayed-release profile that offers many advantages, including protecting active ingredients that may be degraded by acid in the stomach and releasing those active ingredients directly in the intestines where they are absorbed, potentially enhancing bioavailability. The technology also preserves the clarity of the capsule, which is important for HBC to showcase the distinctive colour of OmeGo® fish oil, as well as retaining the characteristic ease of swallowing that consumers associate and prefer with softgel dose forms.

For more information on OptiGel DR, visit https://consumerhealth.catalent.com/nutritional-supplements/dose-forms/optigel-dr-softgel-technology

For further information, please contact:
James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no

About Catalent
Catalent is the leading global provider of advanced delivery technologies, development, and manufacturing solutions for drugs, biologics, cell and gene therapies, and consumer health products. With over 85 years serving the industry, Catalent has proven expertise in bringing more customer products to market faster, enhancing product performance and ensuring reliable global clinical and commercial product supply. Catalent employs around 15,000 people, including approximately 2,400 scientists and technicians, at more than 45 facilities, and in fiscal year 2020 generated over $3 billion in annual revenue. Catalent is headquartered in Somerset, New Jersey. For more information, visit www.catalent.com

More products. Better treatments. Reliably supplied.™

About Hofseth BioCare ASA
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

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

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

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

Attachment

• HBC AGM 2021 Minutes

The current relationship will now be expanded to include most of Europe and is effective immediately. It marks a significant step in increasing HBC’s potential market opportunities and the ability of consumers to access the recognised benefits of HBC nutritional and nutraceutical grade salmon protein products such as OmeGo®, ProGo® and CalGo®.

An important element to this comprehensive commercial relationship is a focus on how to ensure HBC products are best able to satisfy local needs and expectations in each potential consumer market. IMCD has already successfully developed a taste masked formulation concept for OmeGo®.

Work is now underway on developing similar formulations for CalGo® and ProGo®. ProGo® is the first and only non-iron containing product on the US market to “support healthy levels of ferritin and hemoglobin” for the prevention of iron deficiency anemia, one of six structure function claims acknowledged by the FDA last year.

Roger Hofseth, Chief Executive of Hofseth Biocare ASA welcomed the news by saying, “I’m pleased that this partnership is set to increase the availability of European consumers to our all-natural, non-GMO and additive-free products. Our large investments in both manufacturing and scientific research made over the past few years continue to bear fruit.”

Bora Turan, Nutraceuticals Director from IMCD says: “We are delighted to extend our relationship with HBC to the European market. HBC’s innovative, holistic, and science-based product portfolio combined with IMCD’s strong formulation expertise, such as OmeGo gummies and ProGo gel formula, will enable us to serve well our customers while meeting their aspirations for a healthier lifestyle.”

Two weeks ago, HBC announced Nestle-owned organic health supplement firm will launch a range of new products with ProGo® later this year in US retail and online markets.

The partnership with IMCD, which is headquartered in the Netherlands, provides HBC with the benefits of its market insights and intelligence and access to its well-established international sales and distribution infrastructure. The ultimate aim of the agreement is to develop a comprehensive and complementary HBC specialty product range for all nutraceutical markets around the world. For further information, please contact:

James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

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

All shareholders are encouraged to submit a voting proxy to the chairman of the board in lieu of attending the Annual General Meeting in person, due to the ongoing situation with spread of Covid-19. The general meeting will be conducted as briefly as possible, and representation of the Company's Board of Directors and management will be kept to a minimum.

The notice of the Annual General Meeting was sent to the shareholders on 31 March 2021, and unfortunately this stock exchange notice was not sent concurrently. Please find the notice to the Annual General Meeting attached.

For further information, please contact:

Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 93632966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

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

Attachment

• Call for AMG 2021

This stock exchange notice follows previous references made in the Norwegian stock exchange notices issued on June 24^th 2019 regarding the Letter of Intent with Garden of Life® and the last quarterly report from HBC, which was published on February 5^th 2021.

European Biotech and consumer health company HBC has received the first Salmon Protein purchase orders from US-based organic health supplement firm Garden of Life. The Nestle owned company intends to launch new ProGo® consumer protein products which will be available online and for the North American markets in Q3 2021.

ProGo® is an all-natural, non-GMO and additive-free salmon protein hydrolysate. It is also the first and only non-iron containing product in the US market to “support healthy levels of ferritin and hemoglobin” for the prevention of iron deficiency anemia, one of six structure function claims acknowledged by the FDA last year and one of the four approved Qualified Health Claims by Health Canada.

Roger Hofseth, Chief Executive of Hofseth Biocare ASA, said, “to be acknowledged by one of the best and premium consumer product brands in North America is a wonderful endorsement for HBC. HBC has made major investments in both manufacturing and scientific research and development in past few years and it is good to see that recognised by such a high-profile brand and have our sustainability story reach a new consumer audience.”

Garden of Life’s VP R&D and Regulatory, Jeff Brams, says “After a temporary Covid-19 delay in 2020, we are moving swiftly ahead with the long-awaited salmon protein launch. Our collaboration with Hofseth Biocare has enabled us to create a line of novel proteins that will be on trend, meet consumer’s taste preferences, deliver high quality nutrition, and fulfil our brand promise of sustainability.”

As part of their launch, GOL will also be co-branding the HBC ProGo® logo on their packaging, to ensure consumer traceability and full transparency of the supply chain.

Furthermore, HBC’s raw material was granted approval by the Non-GMO Project to supply Garden of Life, making the product even more unique in the marketplace.

For further information, please contact:
James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

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

Please find the Annual Report 2020 in Norwegian and English, including the ESG Report (Chapter 5) attached.

For further information, please contact:

Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 93632966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company developing high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID-19.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Palo Alto and Tokyo. HBC is listed on Oslo Stock Exchange with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare.

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

Attachments

• HBC Annual Report 2020 NOR
• HBC Annual Report 2020 ENG

As a result of the transaction, Mr. Baldegger holds 650,000 shares in HBC, equal to 0.18 % of the outstanding shares.

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

Highlights:

• Successful completion of a private placement of NOK 200m by issuance of approx. 24.69m new shares into existing and new institutional shareholders and HBC listed on Oslo Børs on December 14th.
• Received approval from Health Canada on ProGo® and CollaGo® for Qualified Health Claims focused on maintaining healthy levels of ferritin and hemoglobin and the blood components required for oxygen transport.
• ProGo®'s bioactive peptides’ unique label of six structure function claims to support healthy iron levels permitted to be used in the US by the FDA. s
• Signed a Pan-Asian exclusive collaboration with DKSH for distribution of HBC branded ingredients including across China, India, Japan & Korea, and an exclusive distribution agreement with IMCD Performance material division for 16 territories globally including the USA & Canada.
• Boosts Sales and Marketing talent in its Consumer Health division by hiring ex-Novartis and ex-GSK senior executives Andy Gill and ex-Johnson & Johnson Senior Commercial leader Will Urban-Smith.
• HBC and Tenet Partners initiate a long-term collaboration to build a global brand and launch HBC own branded consumer health products.

R&D focus areas in Q4:

1. Identification of the bioactive peptides in SPH that up-regulate the expression of the FTH1 gene. The FTH1 gene encodes the heavy chain of ferritin, the storage protein for iron, and this increase has been shown to increase haemoglobin and correct iron deficiency anaemia (IDA). Our ongoing research has led to the identification of 7 closely related peptides which are being individually sequenced to enable the filing of a new patent application and subsequently the planned application for New Chemical Entity (NCE) status.
2. Identification of non-Omega fatty acid components within OmeGo that modulate eosinophil effector function. These minor elements within the oil could lead to a novel oral treatment for eosinophilic asthma and other eosinophilic conditions.
3. An accelerated p2/3 trial in Covid-19 targeting patients with mild to moderate SARS-CoV-2 infections is ongoing in Canada and new sites in Brazil, Mexico and Hungary are expected to begin recruitment during this quarter.
4. Ongoing preclinical trial work in different models of gastrointestinal injury / inflammation are progressing. These include various invitro cellular systems simulating the pathology of necrotizing enterocolitis (NEC) and inflammatory bowel disease (IBD).
5. The completion of an invitro assay for sarcopenia treatment has shown that peptides within SPH have myostatin inhibitory activity. Myostatin is a well-recognised therapeutic target for sarcopenia. As such, the peptides within SPH could have the potential to help reduce the loss of muscle mass associated with sarcopenia.

In sales and marketing, Q4 was an extremely busy and successful quarter for HBC as it began its journey to build a new Consumer Healthcare sales division with senior executives from global consumer health care companies. Furthermore, it signed up a world class network of partners with which to grow its presence the whole of Asia and the Americas.

For our B2C strategy, a major two-and-a-half-year collaboration with Tenet Partners to build a brand for finished products was also agreed upon. This will enable HBC to go direct to the consumer with a new identity and connection with consumers later this year.

“At the end of 2020 we completed a successful capital increase and as of December 2020, our shares now trade on the main board of Oslo Børs. As such, we have a solid financial platform from which we expect to grow revenues, develop new products and continue to excel in research and development, to support the long-term growth of HBC”, CEO Roger Hofseth comments.

For further information, please contact:
James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no

Jon Olav Ødegård, Chief Financial Officer of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

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

Attachment

• HBC Q4 2020 Financial Report

Mr Renggli is a highly accomplished leader with two decades of global experience in marketing, business development and the sales of scientific based branded raw materials to the human and pet food sector. He is the former Head of Sales and Marketing, Health Ingredients at Lonza, the Swiss based life sciences business and has broad experience of developing new products. He managed key commercial relationships with multinationals such as Nestle and Danone.

Reto Renggli said, “I was inspired to join HBC’s senior leadership team by the global opportunity I see for this rapidly growing biotech business. As we accelerate plans to commercialise and expand HBC’s product and ingredient ranges, our skills and experience are set to prove complementary.”

HBC is focused on its expansion across the entire consumer health sector and the creation of a global distribution network for its range of products and ingredients. In the final weeks of 2020, HBC announced a pan-Asian collaboration for its non-GMO and sustainable marine branded products with nutraceutical and pharmaceutical distributor DKSH. It extends to ten countries including India, Japan and China. A further exclusive agreement was signed with global speciality ingredients distributor IMCD for sixteen more countries incorporating most of South America, South Africa, Australasia, Turkey, the USA and Canada. These agreements follow the granting of a unique set of label claims for its bioactive peptide product ProGo® in North America, centred around the treatment of iron deficiency anemia. It is the first non-iron based alternative on the US market with documented health benefits, to help millions of people who struggle with the negative side effects of traditional iron supplements.

Mr Renggli joins Andy Gill, formerly of GSK and Novartis, appointed in January 2021, and Will Urban-Smith, formerly of Johnson & Johnson, to realise a long-term strategic plan to create shareholder value.

“Hiring Reto Renggli is a significant milestone for HBC and we are delighted he will be working alongside Andy and Will. These experienced sales executives from Tier One, global pharmaceutical and nutraceutical consumer health businesses will drive sales of HBC´s unique, sustainable, science and claim-backed natural health solutions. It speaks volumes about the opportunity at HBC. Leading healthcare and FMCG companies and professionals alike are starting to understand just how differentiated our clean, sustainable marine by-products are and the scale of our ability to provide the medicine of tomorrow, today. Reto’s addition is an enormous step forward for us to begin the process of selling more, particularly B2B in both the human and pet segments”, says CEO Roger Hofseth of Hofseth BioCare ASA.

For further information, please contact:
James Berger, Head of Investor Relations & Strategy at Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market.

Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

The share capital increase pertaining to the Subsequent Offering has now been registered with the Norwegian Register of Business Enterprises. The new registered share capital of the Company is NOK 3,578,310.3 divided by 357,831,030 shares, each with a par value of NOK 0.01.

Delivery of the offer shares is expected to take place on or about 30 December 2020, through the facilities of VPS. Trading in the Offer Shares on Oslo Børs is expected to commence on or about 30 December 2020.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo. HBC is listed on Oslo Børs with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

After the transaction, HI’s total shareholding is 58,881,778 shares, equal to 16.59 % of the total outstanding shares and voting rights in Hofseth BioCare ASA.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo. HBC is listed on Oslo Børs with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

Roger Hofseth is CEO and primary insider in Hofseth BioCare ASA. After the transaction, Roger Hofseth AS owns 51,550,000 shares corresponding to 14.53 % of the outstanding shares in Hofseth BioCare ASA.

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

The subscription period for the Subsequent Offering ended on 18 December 2020 at 16:30 hours (CET). The subscription price in the Subsequent Offering was NOK 8.10 per Offer Share.
At the end of the subscription period, the Company and the Manager has received eligible subscriptions for a total of 2,930,671 Offer Shares out of 4,938,271 Offer Shares available.

The Board of Directors of HBC has approved the final allocation of Offer Shares based on the allocation criteria resolved by the Company's general meeting on 11 November 2020 and has allocated 2,930,671 Offer Shares to the subscribers. A total of 1,271,239 Offer Shares have been allocated on the basis of exercised subscription rights and 1,659,432 Offer Shares have been allocated to subscribers on the basis of oversubscription. The Subsequent Offering raised gross proceeds of approx. NOK 23.7 million.

Notifications of allocation in the Subsequent Offering are expected to be issued on 21 December 2020. The due date for payment of allocated Offer Shares is on 22 December 2020. Delivery of the Offer Shares is expected to take place on or about 30 December 2020, through the facilities of VPS. Trading in the Offer Shares on Oslo Børs is expected to commence on or about 30 December 2020.

Pareto Securities AS has acted as manager for the Subsequent Offering.

For further information, please contact:

Jon Olav Ødegård, CFO at Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo. HBC is listed on Oslo Børs with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

Reference is made to the stock exchange announcement by Hofseth BioCare ASA (the "Company") on 4 December 2020 regarding the approval by the Financial Supervisory Authority of Norway of the Company's prospectus dated 3 December 2020 (the "Prospectus") prepared in connection with inter alia, a subsequent offering of new shares in the Company (the "Offer Shares").

The subscription period in the Subsequent Offering will end today and Subscription Rights that are not used to subscribe for Offer Shares before 16:30 hours (CET) today, on 18 December 2020, will have no value and will lapse without compensation to the holder. The subscription price in the Subsequent Offering is NOK 8.10 per Offer Share (the "Subscription Price"), which is equal to the subscription price in the Private Placement.

Further information about the Subsequent Offering and the subscription procedures is included in the Prospectus. The Prospectus, including the subscription form, is available at www.paretosec.com/updates/transactions.

For further information, please contact:

Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo. HBC is listed on Oslo Børs with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

The collaboration with Tenet will enable HBC to accelerate the development of its own brand and marketing strategy for its Consumer Health division. The Hofseth Group already has broad and well-established retail sales channels through which it will continue to place products, with existing access into over 40,000 retail outlets worldwide. Tenet’s approach to market analytics, branding and design will enable HBC to more rapidly utilize and monetize those sales channels as well as create its own brand for its unique, sustainable marine-derived products to be sold into segments such as OTC pharmacies, sports nutrition and cosmetics amongst others. Tenet offers e-commerce expertise, including engagement, technology and customer experience work, which will further help build HBC’s commercial reach for its B2C offering. Their breadth of work will be comprehensive including: new name development, developing a messaging matrix, new packaging concepts, new logo/identity and redesigning HBC’s own-product website.

As part of the transaction, Tenet Partners will also take more than half of their fees in the form of share options in HBC at par value that will vest and become exercisable upon the board of directors' approval of Tenet's delivery under the agreement's main phase, tentatively by May/June 2021. Shares issued to Tenet following vesting and exercise of the options will be subject to a lock-up of 24 months as well, and Tenet will continue to deliver services to HBC during the lock-up period.

Tenet CEO Hampton Bridwell underscored that a close alignment of culture and philosophy is key for success. “Hosfeth is a true innovator driven by vision, looking to push the boundaries. This venture is a great match for our brand- innovation approach and experience in building billion-dollar companies and product lines for B2B and consumer channels. Tenet’s proven approach is built on design-thinking and data science to yield consumer insights and an ability to scale brands through systems design” he said.

“Our relationship reflects this non-traditional mindset,” Bridwell noted. “Rather than a straight fee, we’re entering into a true equity partnership. That means we have ‘skin in the game:’ Our success will be directly tied to the results we achieve together. The fact that Tenet is employee-owned made this possible. Our 100% Employee Owned culture gives us financial flexibility and a venture-growth mindset that we believe is perfect to help HBC build a tremendous consumer business worldwide.”

“We see this as a wonderful opportunity to align with a company that shares our values at a very deep level,” Bridwell noted. “Hosfeth is and always has been focused on sustainability and improving life. This complements Tenet’s ongoing commitment to positive societal and human impact, through our work with organizations such as Sustainability Accounting Standards Board and Smithsonian Environmental Research Center.”

Roger Hofseth says: “This multi-year collaboration with Tenet Partners is yet another example of how we are taking decisive steps forward in building our foundation for scalable sales growth. Building a brand needs to be done with a long-term, professional approach with the very best in the business. We have every confidence in Tenet Partners’ future success given their proven track record and enthusiasm towards the scale of the opportunity at hand. A recognizable brand will help drive sales purchased through the internet or directly through pharmacy, drug and retail stores. It is very important to “consume-ify” our natural ingredients in a way to connect with consumers all over the world. A successful brand will give us the best possible chance of success in the higher margin, direct to consumer vertical. We are delighted that Tenet will not only be our brand builder but also a meaningful investor in our business ensuring a perfect alignment of interests between us.”

This collaboration dovetails with the recent announcement of the hiring of senior sales executives from GSK and JnJ with Andy Gill and Will Urban Smith joining to expand HBC’s Consumer Health division. Their experience and knowledge from helping develop some of the world’s most recognizable consumer brands from Voltaren to Nicorette, will play a crucial role in the product development phase with Tenet and ensure the project is a success.

For further information, please contact:
James Berger, Head of Investor Relations & Strategy at Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.
HBC is listed on Euronext Expand Oslo with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

The first day of trading of the Company's shares on Oslo Børs will be on 14 December 2020. Consequently, the last day of trading of the Company's shares on Euronext Expand will be tomorrow, 11 December 2020. The ticker and ISIN of the Company's shares will remain unchanged.

The Company has prepared a prospectus dated 3 December 2020 (the "Prospectus") in connection with, inter alia, the transfer of listing, and such prospectus was published on 4 December 2020. The Prospectus is, subject to applicable securities laws, available at www.paretosec.com/updates/transactions. The Prospectus is also available at the offices of the Company.

For further information, please contact:
Jon Olav Ødegård, CFO at Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.

HBC is listed on Euronext Expand Oslo with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

Reference is made to the stock exchange announcements from Hofseth BioCare ASA (the "Company") on 4 December 2020 regarding approval and publication of the Company's prospectus dated 3 December 2020 (the "Prospectus") and on 7 December 2020 regarding the commencement of the subscription period in a subsequent offering raising gross proceeds of up to approximately NOK 40 million (the "Subsequent Offering").

On 8 December 2020, e.g. following publication of the Prospectus, the Company published that it had entered into a distribution agreement with DKSH. The Norwegian Financial Supervisory Authority has today approved a supplement to the Prospectus (the "Prospectus Supplement"), which implements information about the distribution agreement with DKSH into the Prospectus. The information contained in the Prospectus Supplement shall be considered as an integral part of, and is to be read together with, the Prospectus.

The Prospectus Supplement is published today and will, subject to applicable local securities laws, be available at www.paretosec.com/updates/transactions. The Prospectus Supplement will also be available at the offices of the Company.

Pareto Securities AS acts as manager in the Subsequent Offering. Advokatfirmaet CLP DA acts as Norwegian legal counsel to Hofseth BioCare ASA.

For further information, please contact:

Jon Olav Ødegård, CFO at Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.
HBC is listed on Euronext Expand Oslo with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

Hofseth BioCare (“HBC”) is delighted to announce it has signed a comprehensive exclusive distribution contract with DKSH for HBC’s marine branded products. The agreement covers ten territories across Asia including Thailand, Indonesia, Philippines, Malaysia, Vietnam, China, Japan, Korea, Taiwan and India. DKSH will also have the right to sell “white labelled” finished products across the territories on a non-exclusive basis.

The distribution contract with DKSH follows soon after the granting of a unique set of label claims for ProGo^® in North America, centred around the prevention of iron deficiency anaemia. Bioactive Peptides™ are in the unique position of being the first and only non-iron containing product in the US market to maintain healthy levels of ferritin and haemoglobin. It is also part of a strategy to empower global leading distributors to lever the HBC science and unique ingredients to penetrate the business to business segment on a worldwide basis.

“We believe there is a vast opportunity for our products in Asia given that the regional palate is typically very predisposed to eating fish and fish-derived products. Countries such as Malaysia and Indonesia have amongst the highest consumption of fish per capita in the world. It is no co-incidence that these countries have very low levels of heart disease and asthma, where our products unsurprisingly show significant health benefits too. Furthermore, our Bioactive peptides will be a better alternative for millions of people who struggle with negative side effects or poor effect of traditional iron supplementation,” says Crawford Currie, Head of Medical R&D, in Hofseth BioCare.

This distribution agreement now provides HBC with a truly global access for the delivery of its nutritional and nutraceutical grade products. DKSH’s activity is the market expansion, marketing and distribution of human & pharma grade raw materials through extensive local networks, market intelligence and formulation expertise. DKSH has the know-how to create unique recipes locally in a truly unparalleled way such as their UHT pilot plant which can leverage product development to benefit of HBC and their customer base.

The products included in the distribution agreement are:

a. ProGo^® Nutrition - Salmon Protein Hydrolysate; a soluble peptide powder derived from the hydrolysis of the protein fraction of salmon off-cuts. The powder contains more than 97% hydrolysed protein, suitable for sports, endurance and recovery nutrition and can be used in powder formulations, bars, drinks and tablets.

b. CollaGo^® Collagen Peptides: A soluble Type I & III Collagen Peptide powder to help support healthy skin, muscles and arteries. Recent studies have shown its benefit for beauty enhancement including hair, skin and nails as well increasing energy and wellbeing.

c. CalGo^® Collagenic Hydroxyapatite: a collagen calcium powder containing 24% Type II Collagen, 19% calcium hydroxyapatite and 9% elemental Phosphorus to support bone and joint health. It can be used as tablets, powders and other formats.

d. OmeGo^® Unrefined Salmon Oil containing all the elements present in whole salmon: Omega 3 (EPA, DHA and DPA), Omegas 5, 6, 7, 9 & 11, natural antioxidants and no added antioxidants with 4 years shelf life. It provides broad antioxidant and anti- inflammatory effects and is beneficial for maintaining healthy cholesterol and cardiovascular function. HBC has identified a non-Omega fraction in the oil that attenuates eosinophil effector function. Preclinical work in asthma is ongoing. The oil can be formulated in soft gel caps and other formats.

* “supports healthy ferritin and haemoglobin levels”, “helps maintain iron-rich blood”, “promotes energy utilization”, “supports red blood cell production”, “supports gastrointestinal and immune system health”, “assists in iron absorption from your daily diet” **“helps maintain healthy levels of ferritin and haemoglobin”, “helps maintain healthy levels of blood components required for oxygen transport”, “provides antioxidants for the maintenance of good health” and “helps promote healthy skin”

The HBC product range is non-GMO, antibiotic-free with steam the only by-product of the manufacturing process.

Thomas Sul, Co-Head Business Unit Performance Materials and Member of DKSH's Executive Committee comments: “The new partnership with HBC is a great match. DKSH gets access to the innovative, sustainable and science-based product range of Hofseth BioCare and they in turn access to our established customer base, our network of innovation centers and our in-depth industry knowledge. We are looking forward to a successful partnership with HBC.”

“This is tremendous agreement for HBC and for the long-term growth of our business as we enter a partnership with one world’s longest established nutraceutical and pharmaceutical distributors across Asia for ingredients and finished products. We take confidence from the fact that multiple DKSH business units across Asia see strong appetite for our unique marine derived offering. The Asian market is a natural fit us given their natural enjoyment for fish. Also, yet again this collaboration pays testament to the investments in R&D and science the company has made in the last 15 years in that we have “something different” to offer consumers. We are now represented globally across all continents for B2B distribution. The recently approved health claims for ProGo have grabbed the attention of leading players very quickly. DKSH has the infrastructure and know-how to passport those claims into each country in the region efficiently. As the most dominant player in Asia, we are privileged to work with them also in their geographic area of strength,” says CEO Roger Hofseth at Hofseth BioCare ASA.

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.

HBC is listed on Euronext Expand Oslo with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

About DKSH:

DKSH is the leading Market Expansion Services provider with a focus on Asia. The Group helps companies to grow across the Business Units Healthcare, Consumer Goods, Performance Materials and Technology. The service portfolio covers sourcing, market insights, marketing and sales, eCommerce, distribution and logistics as well as after-sales services. Publicly listed on the SIX Swiss Exchange, the Group operates in 36 markets with 33,350 specialists, generating net sales of CHF 11.6 billion in 2019. With its Swiss heritage, DKSH has been deeply rooted in Asia Pacific since 1865. The DKSH Business Unit Performance Materials distributes specialty chemicals and ingredients for food, pharmaceutical, personal care and various industrial applications. With 46 innovation centers and regulatory support worldwide, we create cutting-edge formulations that comply with local regulations. With around 1,100 specialists, the Business Unit generated net sales of CHF 1.0 billion in 2019.

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

Reference is made to the stock exchange announcement by Hofseth BioCare ASA (the "Company") on 4 December 2020 regarding the approval by the Financial Supervisory Authority of Norway of the Company's prospectus dated 3 December 2020 (the "Prospectus") prepared in connection with; (i) a subsequent offering of new shares in the Company (the "Offer Shares"), each with a par value of NOK 0.01, at a subscription price of NOK 8.10 per offer share (the "Subsequent Offering"), and (ii) in connection with a transfer of listing of the Company's shares from Euronext Expand to Oslo Børs (the "Transfer of Listing").

The Subsequent Offering consists of an offering of up to 4,938,271 Offer Shares to the Company's shareholders as of 15 October 2020 (and being registered as such in the Norwegian Central Securities Depository (VPS) on 19 October 2020 (the "Record Date")) who; (i) were not provided with insider information in the pre-sounding phase of a private placement of 24,691,358 new shares in the Company announced on 15 October 2020 (the "Private Placement"), (ii) were not allocated new shares in the Private Placement, and (iii) are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway) require any prospectus filing, registration or similar action (the "Eligible Shareholders").

The subscription period in the Subsequent Offering commences today, on 7 December 2020 at 09:00 hours (CEST) and will end on 18 December 2020 at 16:30 hours (CET) (the "Subscription Period"). The subscription price in the Subsequent Offering is NOK 8.10 per Offer Share (the "Subscription Price"), which is equal to the subscription price in the Private Placement.

In the Subsequent Offering, Eligible Shareholders, will be granted non-transferable subscription rights ("Subscription Rights") that, subject to applicable law, provide preferential rights to subscribe for and be allocated Offer Shares at the Subscription Price.

The Eligible Shareholders will be granted 0.034455 Subscription Rights for each existing share registered as held by such Eligible Shareholder as of the Record date, rounded down to the nearest whole number of Subscription Rights. Each whole Subscription Right provides a preferential right to subscribe for, and be allocated, one Offer Share at the Subscription Price, subject to applicable securities laws. Oversubscription will be permitted. Subscription without Subscription Rights will not be permitted.

The Subscription Rights must be used to subscribe for Offer Shares before the expiry of the Subscription Period on 18 December 2020 at 16:30 hours (CET). Subscription Rights that are not used to subscribe for Offer Shares before 16:30 hours (CET) on 18 December 2020 will have no value and will lapse without compensation to the holder.

Notifications of allocation in the Subsequent Offering are expected to be issued on 21 December 2020. The due date for payment of allocated Offer Shares is on 22 December 2020. Delivery of the Offer Shares is expected to take place on or about 30 December 2020, through the facilities of VPS. Subject to approval of the Transfer of Listing, trading in the Offer Shares on Oslo Børs (i.e. not on Euronext Expand) is expected to commence on or about 30 December 2020.

Further information about the Subsequent Offering and the subscription procedures is included in the Prospectus. The Prospectus, including the subscription form, is available at www.paretosec.com/updates/transactions.

Pareto Securities AS acts as manager in the Subsequent Offering (the "Manager"). Advokatfirmaet CLP DA acts as Norwegian legal counsel to Hofseth Biocare ASA.

For further information, please contact:

Jon Olav Ødegård, CFO at Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo. HBC is listed on Euronext Expand Oslo with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

All proposals were approved. Please find the minutes from the meeting attached.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Mob: +47 93632966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as clinical work in COVID.
The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.
HBC is listed on Euronext Expand Oslo with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

Attachment

• Minutes EGM

Reference is made to the stock exchange announcements from Hofseth BioCare ASA (the "Company") on 16 October 2020 regarding completion of a private placement raising gross proceeds of NOK 200 million (the "Private Placement") and on 11 November 2020 regarding an application to Oslo Børs for a transfer of listing of the Company's shares from Euronext Expand to Oslo Børs (the "Transfer of Listing").

The Financial Supervisory Authority of Norway (Nw. Finanstilsynet) has on 3 December 2020, approved the Company's prospectus (the "Prospectus") prepared in connection with; (i) a subsequent offering of up to 4,938,271 new shares in the Company (the "Offer Shares"), each with a par value of NOK 0.01, at a subscription price of NOK 8.10 per offer share (the "Subsequent Offering"), and (ii) the Transfer of Listing.

The Prospectus will be published today and will, subject to applicable local securities laws, be available at www.paretosec.com/updates/transactions. The Prospectus will also be available at the offices of the Company.

Please note that the Transfer of Listing has not yet been approved by Oslo Børs, and no assurance can be given that the Oslo Børs will approve the Transfer of Listing. Oslo Børs will discuss the Company's application for the Transfer of Listing, and, if approved, the first day of trading in the Company's shares on Oslo Børs will be on 14 December 2020.

The subscription period for the Subsequent Offering will commence on Monday 7 December 2020 at 09:00 CET and further information will be provided prior to commencement of the offer period.

Pareto Securities AS acts as manager in the Subsequent Offering (the "Manager"). Advokatfirmaet CLP DA acts as Norwegian legal counsel to Hofseth Biocare ASA.

For further information, please contact:
Jon Olav Ødegård, CFO at Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo. HBC is listed on Euronext Expand Oslo with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com and www.facebook.com/hofsethbiocare

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

Mr. Holen owns as of the date hereof a total of 1,465,253 shares, equal to 0.41 per cent of the outstanding shares in HBC. 935,388 shares are owned via his fully owned company, Paso AS, and 529,865 shares are held privately.

After the receipt of the above-mentioned proxies, Mr. Holen represents a total of 258,407,761 shares and votes, equal to 72.81 % of the voting rights at the upcoming extraordinary general meeting in HBC on 4 December 2020.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Mob: +47 93632966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as clinical work in COVID.
The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.
HBC is listed on Euronext Expand Oslo with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

Mr Urban-Smith has worked closely on brand development and growth strategies for some of J&J’s largest global brands such as Johnson’s Baby, Aveeno, Listerine, Neutrogena and Nicorette. His experience and knowledge with regards to placing health care & OTC products into the hands of consumers in the UK and abroad should prove an invaluable addition to HBC´s product development, strategy and sales efforts.

Will Urban-Smith says: “This a fantastic opportunity and I am excited to be joining the team as we embark on a journey to bring the medicine of tomorrow to customers and consumers around the world. I believe HBC is in an enviable position of being able to combine sustainable, science-based production capability with a differentiated portfolio that can enhance global health, and I want to play a key role in helping them unlock this huge growth potential. I look forward to being able to educate the industry on the innovative science and unique health benefits that will drive the HBC commercial proposition, and to use my knowledge and experience within consumer healthcare to drive a strategic growth agenda over the coming years.”

Mr Urban-Smith’s addition follows the recent hiring of Andy Gill who was a senior executive at GSK and Novartis with close to 25 years of experience in this field. These recruits follow a precise and targeted strategy to selectively hire experienced salespeople out of tier one, global pharmaceutical and nutraceutical consumer health businesses to drive growth of HBC´s unique, sustainable, science & claim backed natural health products.

“The fact HBC is now in the position to attract this kind of talent and experience from the leading pharma companies is testament to the HBC sustainability story and all the millions of dollars invested in R&D over the years. Leading healthcare and FMCG companies and professionals alike are starting to understand just how differentiated our clean, sustainable marine by-products are and the scale of the opportunity. Our manufacturing patents cover the enzymatic hydrolysis process not only for Atlantic salmon enzymatic hydrolysis, but people forget the patents are also for all marine species. All of our by-products (oil, proteins and collagen) have very differentiated evidence-based health benefits and Will and Andy’s addition is an enormous step forwards for us to begin the process to sell more both B2B and B2C”, says CEO Roger Hofseth of Hofseth BioCare.

Will Urban-Smith has today indirectly purchased 200,000 shares in HBC at market prices, through a 1.81 % shareholding in Brilliant Invest AS. For further information about Brilliant Invest AS and its HBC shareholdings, please see https://newsweb.oslobors.no/message/485842

For further information, please contact:

Dr. Crawford Currie, Medical R&D at Hofseth BioCare ASA
Phone: +44 7968 195497
E-mail: cc@hofsethbiocare.no

James Berger, Head of Investor Relations & Strategy at Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.

HBC is listed on Euronext Expand Oslo with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

Hofseth BioCare (“HBC”) has today signed a comprehensive distribution contract with leading speciality chemicals and ingredients distributor IMCD, for HBC’s marine branded products. The agreement covers sixteen territories worldwide including the US & Canada, most of South America, including Argentina, Brazil and Mexico, as well as Australia, New Zealand, South Africa and Turkey.

The distribution contract with IMCD follows soon after the granting of a unique set of label claims for ProGo^® in North America, centred around the prevention of iron deficiency anaemia. Bioactive Peptides™ are in the unique position of being the first and only non-iron containing product in the US market to maintain healthy levels of ferritin and hemoglobin.

“Our product will be a better alternative for millions of people who struggle with negative side effects or poor effect of traditional iron supplementation. For Hofseth BioCare, we see vast market opportunities crystalize,” says Crawford Currie, Head of Medical R&D, in Hofseth BioCare.

The distribution agreement is an important next step for HBC towards the global distribution of nutritional and nutraceutical grade products. IMCD’s activity is the sales, marketing and distribution of human & pharma grade raw materials through extensive local networks, market intelligence and technical expertise. HBC maintains the right to sell products for use as ingredients for Nestle-owned brands including Garden of Life in the United States.

IMCD’s dedicated team of Nutra experts will offer technical advice and formulation support to reformulate HBC products in response to consumer-led trends or market demands. The products are produced via HBC’s patented enzymatic hydrolysis of salmon offcuts, the left-over “waste” of the fish after filleting. The process runs at low temperatures to minimize oxidation and maximize the health benefits of the products.

The products included in the distribution agreement are:

1. ProGo^® Nutrition - Salmon Protein Hydrolysate; a soluble peptide powder derived from the hydrolysis of the protein fraction of salmon off-cuts. The powder contains more than 97% hydrolysed protein, suitable for sports, endurance and recovery nutrition and can be used in powder formulations, bars, drinks and tablets.
2. ProGo Medical – Bioactive peptides; a soluble peptide powder derived from the hydrolysis of the protein fraction of salmon off-cuts. The product is sold into the US market with 6 unique structure function claims* and into Canada, with four unique Qualified Health Claims**.
3. CollaGo^® Collagen Peptides: A soluble Type I & III Collagen Peptide powder to help support healthy skin, muscles and arteries. Recent studies have shown its benefit for beauty enhancement including hair, skin and nails as well increasing energy and wellbeing.
4. CalGo^® Collagenic Hydroxyapatite: a collagen calcium powder containing 24% Type II Collagen, 19% calcium hydroxyapatite and 9% elemental Phosphorus to support bone and joint health. It can be used as tablets, powders and other formats.
5. OmeGo^® Unrefined Salmon Oil containing all the elements present in whole salmon: Omega 3 (EPA, DHA and DPA), Omegas 5, 6, 7, 9 & 11, natural antioxidants and no added antioxidants with 4 years shelf life. It provides broad antioxidant and anti-inflammatory effects and is beneficial for maintaining healthy cholesterol and cardiovascular function. HBC has identified a non-Omega fraction in the oil that attenuates eosinophil effector function. Preclinical work in asthma is ongoing. The oil can be formulated in soft gel caps and other formats.

* “supports healthy ferritin and hemoglobin levels”, “helps maintain iron-rich blood”, “promotes energy utilization”, “supports red blood cell production”, “supports gastrointestinal and immune system health”, “assists in iron absorption from your daily diet”

**“helps maintain healthy levels of ferritin and hemoglobin”, “helps maintain healthy levels of blood components required for oxygen transport”, “provides antioxidants for the maintenance of good health” and “helps promote healthy skin”

The HBC product range is non-GMO, antibiotic-free with steam the only by-product of the manufacturing process.

Bora Turan, Nutraceuticals Director from IMCD says: “HBC’s sustainable, unique and clinically studied products, as well as their continuous investments in R&D and quality, perfectly complement our existing science-based product portfolio and our vision. With unique selling points and impressive health claims, we are confident that the addition of HBC’s products to our portfolio will incite a lot of interest amongst our customers. IMCD has a long-established business in the Americas as well as the other territories related to this agreement, and our experienced team of Nutra experts have a profound knowledge of the consumer trends that are driving these local markets. With the support of our application labs across the Americas, EMEA and Asia-Pacific, we are looking forward to collaborating with HBC and utilizing their products to formulate trend-based finished concepts that our customers can swiftly launch to market, meeting consumer demands for a multitude of health needs.”

Roger Hofseth says: “This is another significant milestone for HBC, to enter into an exclusive agreement with one of the world’s leading nutraceutical and pharmaceutical distributors. This announcement is testament to the investments in R&D and science the company has made over the years. The recently approved health claims are starting to grab the attention of leading players in the healthcare market. IMCD has a phenomenal presence globally, but particularly in North America where we expect them to have success in opening doors for our medical grade nutrition ingredients and we look forward to getting to work immediately.”

For further information, please contact:

James Berger, Head of Investor Relations & Strategy of Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

Dr. Crawford Currie, Medical R&D at Hofseth BioCare ASA
Phone: +44 7968 195497
E-mail: cc@hofsethbiocare.no

IMCD GROUP
Maribel Rodriguez
+31 6 14 79 6610
mediarelations@imcdgroup.com

About IMCD Group:

The IMCD Group is a global market-leader in the sales, marketing and distribution of speciality chemicals and ingredients. Its result-driven professionals provide market-focused solutions to suppliers and customers across EMEA, Americas and Asia-Pacific, offering comprehensive product portfolios ranging from home, industrial and institutional care, personal care, food & nutrition and pharmaceuticals to lubricants & fuels, coatings and construction, advanced materials and synthesis.

The IMCD Group realised revenues of EUR 2,690 million in 2019 with nearly 3,000 employees in over 50 countries. IMCD's dedicated team of technical and commercial experts work in close partnership to tailor best in class solutions and provide value through expertise for around 49,000 customers and a diverse range of world class suppliers. IMCD shares are traded at Euronext, Amsterdam (IMCD).

For further information, please visit www.imcdgroup.com.

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age-related Sarcopenia, and future phase 1 studies on treatment of Anemia and NEC-IBS with Salmon Protein Hydrolysate fractions.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.

HBC is listed on Oslo Stock Exchange list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

Mr Gill has played a major role in developing many internationally recognised brands, including Voltaren, Otrivin, Panadol, Sensodyne and Parodontax. He also has long established relationships with the largest pharmacies in the US such as the Walgreens Boots Alliance and AS Watsons, amongst others. His extensive global experience and knowledge with regards to placing health care & OTC products into the hands of consumers should prove an invaluable addition to HBC´s product development, strategy and sales efforts.

HBC can now accelerate its journey to commercialise and shift over 5000t of output in commoditised animal feed markets, towards much higher value human and pet supplement markets through Mr Gill’s access to international pharmacy and drug store chains and then direct to the consumer via white label and own branded products.

“I am excited to be joining HBC at this critical time as they expand their commercial operations and accelerate their growth. The global consumer trends of increased self-care and demand for natural products presents a huge opportunity for HBC to meet these needs through their state-of-the-art production facilities and innovative product portfolio. Through my broad customer network and deep understanding of the consumer health industry I am really looking forward to helping them unlock their full potential over the next few years.”, Andy Gill says.

Mr Gill´s recruitment was taken after a capital raise in October, as the start of a precise and targeted strategy to selectively recruit experienced sales executives out of tier one, global pharmaceutical and nutraceutical consumer health businesses to drive sales of HBC´s unique, sustainable, science and claim-backed natural health solutions.

Mr Gill´s role will help and complement HBC´s engagement with specialised distributors B2B with global reach and its direct sales efforts B2C via online platforms and the Hofseth Group´s established retail network.

He is also expected to start the process of attracting an expert team of professionals whose established network will quickly absorb HBC goods and whose knowledge of product development and commercial strategy will mean HBC has a structured plan to build out the business in the interest of creating long term shareholder value.

“Hiring Andy Gill is an extremely significant milestone for HBC and we are delighted to have him onboard. Hiring a senior leader from one of the world’s leading Consumer Health companies after nearly 25 years of combined experience at Novartis and GSK speaks volumes about the opportunity and current outlook at HBC. His knowledge, expertise and experience are testament to the effort and ambitions of the HBC team. Leading healthcare and FMCG companies and professionals alike are starting to understand just how differentiated our clean, sustainable marine by-products are and the scale of our opportunity. Our manufacturing patents cover the enzymatic hydrolysis process not only for Atlantic salmon enzymatic hydrolysis, but people forget the patents are also for all marine species. Establishing a global Consumer Health sales business will enable us to not only grow sales but also to extend the range of products using other species in our second manufacturing facility in the near future. All of our by-products (oil, proteins and collagen) have a very differentiated evidence-based health benefits and Andy’s addition is an enormous step forward for us to begin the process of selling more both B2B and B2C”, says CEO Roger Hofseth of Hofseth BioCare ASA.

Andy Gill has today indirectly purchased 250,000 shares in HBC at market prices, through a 2.27 % shareholding in Brilliant Invest AS.

For further information about Brilliant Invest AS and its HBC shareholdings, please see https://newsweb.oslobors.no/message/485842

For further information, please contact:

Dr. Crawford Currie, Medical R&D at Hofseth BioCare ASA
Phone: +44 7968 195497
E-mail: cc@hofsethbiocare.no

James Berger, Head of Investor Relations & Strategy at Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that offers high-value ingredients and finished products for humans and pets. The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC is able to preserve the quality of salmon oil, proteins and calcium, prepared of fresh salmon off-cuts. HBC's objective is to contribute to the efficient use of marine resources and deliver quality products for ingredients and finished consumer products in the nutrition market.

Hofseth BioCare's headquarters are located in Ålesund, Norway with branches in Oslo, Chicago, Menlo Park, Mumbai and Tokyo. HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com and www.facebook.com/hofsethbiocare

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

Following discussions between the Company's election committee and the management, it has been proposed to nominate Kristin Fjellby Grung as new member of the Board of Directors.

The appointment of Christoph Baldegger to the audit committee is effective immediately, while the election of Kristin Fjellby Grung as new member of the Board of Directors is subject to approval by the Company's general meeting.

The Board of Directors therefore call for an extraordinary general meeting to be held on 4 December 2020 at 13.00 hours CET at the premises of the Company at Havnegata 11, 6005 Ålesund, Norway. The notice for the extraordinary general meeting is attached hereto.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Mob: +47 93632966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age-related Sarcopenia, and future phase 1 studies on treatment of Anemia and NEC-IBS with Salmon Protein Hydrolysate fractions.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

This information is subject to the disclosure requirements pursuant to Sections 4-3 and 5-12 of the Norwegian Securities Trading Act

Attachment

• Notice EGM - BoD election

All proposals were approved. Please find the minutes from the meeting attached.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Mob: +47 93632966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age-related Sarcopenia, and future phase 1 studies on treatment of Anemia and NEC-IBS with Salmon Protein Hydrolysate fractions.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

Attachment

• HBC EGM Minutes

Mr. Holen owns as of the date hereof a total of 1,465,253 shares, equal to 0.41 per cent of the outstanding shares in HBC. 935,388 shares are owned via his fully owned company, Paso AS, and 529,865 shares are held privately.

After the receipt of the above-mentioned proxies, Mr. Holen represents a total of 44,785,167 shares and votes, equal to 12.62% of the voting rights at the upcoming extraordinary general meeting in HBC on 11 November 2020.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Mob: +47 93632966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age-related Sarcopenia, and future phase 1 studies on treatment of Anemia and NEC-IBD with Salmon Protein Hydrolysate fractions.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, Chicago, Mumbai, Palo Alto and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

This information is subject to the disclosure requirements pursuant to Sections 4-3 and 5-12 of the Norwegian Securities Trading Act

“It is a fantastically sustainable business model. We are transforming yesterday’s waste into high value health nutritional ingredients for people and pets. In the future, through R&D, the compounds of our products will form the basis of new medical therapies. Thus, sustainability and efficient use of marine resources are at the heart of everything we do,” Roger Hofseth, CEO of Hofseth BioCare says.

Hofseth BioCare has worked intensively in expanding the production capacity, adding an integrated spray drying unit and adding R&D laboratories at the main hydrolysis plant, which resulted in unavoidable temporary disruption to production and hence lower volumes and revenues in the quarter.

Operating revenues in Q3 2020 were of NOK 7.6 million, compared to NOK 29.2 million in Q2 2019, when the production was fully operational. Operating profit (EBITDA) in the third quarter was negative NOK 23.2 million (7.6 million), was also affected by continued higher than expected investments in successful R&D projects and optimisation of production processes.

“Q3 has been an eventful one for Hofseth BioCare. We have strengthened the distribution of our products in Asia and Europe through partnerships and acquisitions and we have worked hard to expand and improve the production capacity at our hydrolysis plant in Midsund. This will be important for the future growth of HBC and the future partnership with Nestle owned, Garden of Life.,” Roger Hofseth, says.

“At the same time, we have taken additional steps in terms of medical R&D. We continue to gain scientific support for the positive health effects of our products, and we will continue to invest significant amounts in research. During the third quarter we strengthened our scientific research team in Norway with the recruitment of Dr. Erland Hermansen, who has taken the position as Medical Director for Clinical Development,”

After the end of Q3, Hofseth BioCare received approval from Health Canada for Qualified Health Claims for our Salmon Protein Hydrolysate, ProGo® and CollaGo®. Hofseth BioCare also now has similar Health Claims for its Salmon Protein Hydrolysate as “Bioactive Peptides” for OTC use in the US market.

“We have now support in saying that our bioactive peptides have positive claims on maintaining healthy levels of ferritin and hemoglobin for people with iron deficiency. Our product will be a better alternative than iron supplements for millions of people who struggle with the negative side effects of iron supplements. This opens up a tremendous market opportunity for us,” Roger Hofseth says. “Up to 8% of the North American population and higher levels in developing countries suffer from iron deficiency.”

“After the successful capital increase of NOK 200 million which was executed in October 2020, we also have a strong capital base to continue to deliver on our strategic and R&D roadmap,” Roger Hofseth says.

HIGHLIGHTS IN THE THIRD QUARTER 2020

• Successful extension to manufacturing plant at Midsund, adding new spray drier facility, creating new R&D laboratories and tripling overall footprint for the benefit of Garden of Life in 2021.
• HBC acquired 34 per cent ownership in the Asia-Pacific distributor Atlantic Delights Ltd. in Hong Kong for approx. NOK 6.5m in August.
• Dr. Erland Hermansen hired as Medical Director for Clinical Development.
• Secured distribution with a Global Retailer giant in the UK, Spain, Iceland and online for Brilliant Salmon Oil™ for pets.
• Published an in-vitro study in the journal Functional Foods in Health and Disease which demonstrated the therapeutic potential of HBC's OmeGo® salmon oil for the treatment of certain types of asthma and chronic obstructive pulmonary disease.

POST PERIOD HIGHLIGHTS

• Successful completion of a private placement of NOK 200m by issuance of approx. 24.69m new shares into existing and new institutional shareholders to diversify the holders list and prepare the company for a listing on the main Oslo stock exchange in Q4 2020.
• Received approval from Health Canada on ProGo® and CollaGo® for qualified health claims focused on maintaining healthy levels of ferritin and hemoglobin and the blood components required for oxygen transport.
• ProGo®'s bioactive peptides to support healthy iron levels allowed to be used in the US with a unique label of six structure function claims permitted by the FDA.

Please find the Third Quarter 2020 Financial Report enclosed.

For further information, please contact:
James Berger, Head of Investor Relations & Strategy of Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Mob: +47 93632966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre- clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age- related Sarcopenia, and future phase 1 studies on treatment of Anemia and NEC- IBS with Salmon Protein Hydrolysate fractions.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

Attachment

• HBC Q3 2020 Financial Report

The share capital increase pertaining to the Private Placement has now been registered with the Norwegian Register of Business Enterprises. The new registered share capital of the Company is NOK 3,549,003.59 divided by 354,900,359 shares, each with a par value of NOK 0.01.

The new shares will be issued in the VPS and delivered to Hofseth AS as soon as practically possible, in order to settle the share lending agreement entered into in connection with the Private Placement.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

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

Roger Hofseth is CEO and primary insider in Hofseth BioCare ASA. After the transaction, Roger Hofseth AS owns 51,439,998 shares corresponding to 15.58 % of the outstanding shares in Hofseth BioCare ASA.

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

Considering the travel and meeting recommendations and restrictions currently in place due to the extraordinary situation with the Covid-19 pandemic, all shareholders are encouraged to submit a voting proxy to the chairman of the board in lieu of attending the General Meeting in person.

Please find the notice of the Extraordinary General Meeting attached.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 93632966
E-mail: investor@hofsethbiocare.no

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

Attachment

• 201021 - Notice of EGM

Approved Recommended Use and Purpose are: “helps maintain healthy levels of ferritin and hemoglobin”, “helps maintain healthy levels of blood components required for oxygen transport”, “provides antioxidants for the maintenance of good health” and “helps promote healthy skin”. Of note, the bioactive peptides do not contain any actual antioxidant compounds (natural or added), rather the bioactive peptides contained in ProGo ® and CollaGo ® upregulate the body’s natural antioxidant genes to deliver this vital health benefit.

Using size exclusion chromatography and MALDI-TOF analysis, HBC has identified the active peptide fraction leading to the increase in ferritin and hemoglobin. This fraction consists of a limited number of structurally related peptides. During H1 2021, having already identified one or more of these peptides that are responsible for the increase in ferritin, HBC plans to produce a new composition of matter claim and commence clinical trial work for the prescription drug claim for the treatment of IDA.

HBC can now sell ProGo® and CollaGo® across the whole of North America following the unique set of Structure Function Claims in the US (with reference to the press release on 13^th October). Iron supplementation is a significant market in the US alone with approximately 20% of women, 50% of pregnant women and 3% of men lacking sufficient iron stores in their body. HBC’s bioactive peptides can now offer an alternative solution to this common problem without the need for iron which frequently results in GI irritation. Furthermore, Health Canada’s QHCs are internationally recognized by most Asian countries and therefore will be passported for their use in those countries too.

About HBC’s Bioactive Peptides

The bioactive peptides in ProGo® and CollaGo® are produced via HBC’s patented enzymatic hydrolysis of salmon offcuts (left-over “waste” of the fish after filleting). The resulting peptides and amino acids are more easily handled by the body with a resulting 98% bioavailability (absorption). Beyond nutrition, the peptides have shown significant bioactivity positively impacting numerous body systems including anti-inflammatory and antioxidant effects, gastrointestinal protection, weight loss and aiding the maintenance of healthy blood counts. Ongoing trial work continues to further assess the health benefits of ProGo® and to identify the bioactive peptides driving the beneficial effects.

For further information, please contact:

James Berger, Head of Investor Relations & Strategy of Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

Dr. Crawford Currie, Medical R&D at Hofseth BioCare ASA
Phone: +44 7968 195497
E-mail: cc@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age-related Sarcopenia, and future phase 1 studies on treatment of Anemia and NEC-IBS with Salmon Protein Hydrolysate fractions.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

As a consequence of the Private Placement the shareholding of funds managed by Bonafide (Bonafide Global Fish Fund, Bonafide Best Catches I, Deep Blue Ventures I, and Deep Blue Ventures III) falls below 20 % of the total shares outstanding in Hofseth BioCare ASA following the Private Placement. Bonafide funds controls a total of 69,302,732 shares in Hofseth BioCare ASA corresponding to approx. 19.53 % of total shares outstanding after the Private Placement.

This information is subject to the disclosure requirements pursuant to sections 4-3 and 5-12 of the Norwegian Securities Trading Act.

This information is published in accordance with the requirements of the Continuing Obligations.

(Ålesund, 16 October 2020) Reference is made to the stock exchange release from Hofseth Biocare ASA ("HBC" or the "Company") published on 15 October 2020 regarding a contemplated private placement.

The Company hereby announces that it has allocated 24,691,358 new shares in the Company (the "Offer Shares") in a private placement (the "Private Placement") at a subscription price of NOK 8.10 per share, corresponding to a total size of the Private Placement of NOK 200 million. The Private Placement was significantly oversubscribed.

Pareto Securities acted as sole manager in connection with the Private Placement.

The net proceeds of the Private Placement will be used for R&D activities, expanding production capacity, ramping up sales and marketing, as well as for general corporate purposes.

Notification of allotment of the Offer Shares including settlement instructions will be sent to the applicants through a notification from the Manager on or about 16 October 2020. The Offer Shares will be settled through a delivery versus payment transaction on or about 20 October 2020 with existing and unencumbered shares in the Company that are already admitted to trading on Oslo Axess, pursuant to a share lending agreement between the Company, the Manager, Hofseth International AS, Hofseth AS and Seafood Farmers of Norway AS. The Offer Shares will be tradable from allocation, i.e. from 16 October 2020.

In order to settle the share loan, the Company's Board of Directors has resolved to issue 24,691,358 new shares in the Company to the Manager pursuant to the authorization granted by the Company's annual general meeting on 25 May 2020. Consequently, the share capital of the Company will be increased with NOK 246,913.58 from NOK 3,302,090.01 to NOK 3,549,003.59. Following registration of the new share capital pertaining to the Private Placement, the Company will have 354,900,359 shares outstanding, each with a par value of NOK 0.01.

The Company's Board is of the opinion that the Private Placement complies with the equal treatment obligations under the Norwegian Securities Trading Act and Oslo Børs' Circular no. 2/2014, in particular due to the fact that (i) in the current market, a private placement had a larger possibility of success compared to a rights issue and, therefore, gives the Company timely access to the new capital at lower risk; (ii) the cost of raising capital is assumed to be lower than in a rights issue since any discount is likely to be smaller and subscription guarantees are avoided; and (iii) the Company intends to carry out a subsequent offering directed towards shareholders not offered to participate in the Private Placement (the "Subsequent Offering"). On this basis and based on an assessment of the current equity markets, the Company's Board has considered the Private Placement to be in the common interest of the Company and its shareholders. As a consequence of the Private Placement structure, the shareholders' preferential rights were deviated from.

Subject to the approval of a prospectus by the Norwegian Financial Supervisory Authority, HBC will carry out a Subsequent Offering of up to 4,983,271 new shares in the Company, corresponding to gross proceeds of up to approximately NOK 40 million. The Subsequent Offering will be made on the basis of a prospectus and will be directed towards eligible shareholders in the Company who (i) are shareholders as of 15 October 2020, as registered in the VPS as of 19 October 2020, (ii) were not provided with insider information in the pre-sounding phase of the Private Placement, (iii) were not allocated Offer Shares in the Private Placement, or (iv) are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway) require any prospectus filing, registration or similar action (the "Eligible Shareholders"). The Eligible Shareholders will be granted non-tradable subscription rights. Over-subscription will be permitted, but subscription without subscription rights will not be permitted in the Subsequent Offering. The subscription period in the Subsequent Offering is expected to commence shortly after publication of a prospectus, and the subscription price in the Subsequent Offering will be the same as in the Private Placement.

Advokatfirmaet CLP DA acts as Norwegian legal counsel in connection with the Private Placement.

For further information, please contact:

James Berger, Head of Investor Relations & Strategy at Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

Jon Olav Ødegård, CFO at Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products. The ingredients are in various stages of discovery and preclinical development in collaboration with multiple clinics and university research labs in several countries. Lead preclinical and clinical candidates are in development toward treatment for iron-deficiency anemia, Gastro-Intestinal Inflammation (NEC/IBS/UC), prediabetes, age-related sarcopenia and osteoarthritis.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.

HBC is listed on Oslo Axess with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare.

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

(Ålesund, 15 October 2020) Hofseth Biocare ASA ("HBC" or the "Company") has engaged Pareto Securities AS (the "Manager") to advise on and effect a contemplated private placement of new shares, after the close of trading on Oslo Axess today (the "Private Placement").

The Private Placement is directed towards Norwegian and international investors, subject to applicable exemptions from relevant registration, filing and prospectus requirements, and subject to other applicable selling restrictions. The minimum application and allocation amount have been set to the NOK equivalent of EUR 100,000. The Company may however, at its sole discretion, allocate amounts below EUR 100,000 to the extent exemptions from the prospectus requirement in accordance with applicable regulations, including the Norwegian Securities Trading Act and ancillary regulations, are available.

Through the Private Placement, the Company is offering new shares (the "Offer Shares") in the Company to raise gross proceeds of up to NOK 200 million. The total size of the Private Placement, the subscription price and allocation of shares in the Private Placement will be determined by the Company's board of directors following an accelerated bookbuilding process. The bookbuilding period commences today at 16:30 CEST and will close at 08:00 CEST tomorrow, 16 October 2020. The bookbuilding may, at the discretion of the Company and the Manager, close earlier or later and may be cancelled at any time and consequently, the Company may refrain completing the Private Placement. The Company will announce the final number of Offer Shares placed and the final subscription price in the Private placement in a stock exchange announcement expected to be published before the opening of the Oslo Axess tomorrow, 16 October 2020. Completion of the Private Placement is subject to final approval by the Company's Board of Directors.

Subject to successful completion of the Private Placement, the Company also expects to apply for a transfer of listing from Oslo Axess to the main list on the Oslo Stock Exchange ("Oslo Børs") within Q4 2020. However, the Board of the Company has not yet formally resolved to apply for such transfer of listing and no assurance can be given that the board of directors of Oslo Børs will approve the Company's application for a transfer of listing or that the timing of such transfer of listing will not change.

The net proceeds of the Private Placement will be used for R&D activities, expanding production capacity, ramping up sales and marketing, as well as for general corporate purposes.

Successful completion of the Private Placement is also expected to secure 12 months of liquidity and increase the Company's shareholder base and the free float of the Company's shares, and thereby enable the Company to comply with the listing requirements for a listing on the Oslo Børs.

The completion of the Private Placement by delivery of Offer Shares is subject to: (i) all necessary corporate resolutions being validly made by the Company, including without limitation, the Company’s board of directors resolving to approve the Private Placement and issue the Offer Shares pursuant to an authorisation given by the Company’s annual general meeting held on 25 May 2020.

Certain existing shareholders and new investors have collectively indicated that they will subscribe for NOK 145 million.

The Offer Shares allocated in the Private Placement are expected to be settled through a delivery versus payment transaction by delivery of existing and unencumbered shares in the Company, that are already admitted to trading on Oslo Axess, pursuant to a share lending agreement between the Company, the Manager, Hofseth International AS, Hofseth AS and Seafood Farmers of Norway AS. The Offer Shares will be tradable from allocation. The Manager will settle the share loan with a corresponding number of new shares in the Company to be issued by the Board of Directors pursuant to its authorization to increase the share capital.

The Company's Board has considered the Private Placement in light of the equal treatment obligations under the Norwegian Securities Trading Act and Oslo Børs' Circular no. 2/2014 and is of the opinion that the contemplated transaction is in compliance with these requirements. The share issuance will be carried out as a private placement in order to complete a transaction in an efficient manner. Further, the Company contemplates to carry out a repair issue directed towards eligible shareholders who (i) were not provided with insider information in the pre-sounding phase of the Private Placement, (ii) were not allocated Offer Shares in the Private Placement, or (iii) are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway) require any prospectus filing, registration or similar action. On this basis and based on an assessment of the current equity markets, the Company's Board has considered the Private Placement to be in the common interest of the Company and its shareholders. As a consequence of the Private Placement structure, the shareholders' preferential rights will be deviated from.

Advokatfirmaet CLP DA acts as Norwegian legal counsel in connection with the Private Placement.

For further information, please contact:

James Berger, Head of Investor Relations & Strategy at Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

Jon Olav Ødegård, CFO at Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products. The ingredients are in various stages of discovery and preclinical development in collaboration with multiple clinics and university research labs in several countries. Lead preclinical and clinical candidates are in development toward treatment for iron-deficiency anemia, Gastro-Intestinal Inflammation (NEC/IBS/UC), prediabetes, age-related sarcopenia and osteoarthritis.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Important information:

This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities of the Company. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering or their securities in the United States or to conduct a public offering of securities in the United States. Any sale in the United States of the securities mentioned in this announcement will be made solely to "qualified institutional buyers" as defined in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression "Prospectus Regulation" means Regulation 2017/1129 as amended together with any applicable implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) 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) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only for 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.
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.

Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in demand for the Company’s products, changes in the general economic, political and market conditions in the markets in which the Company operate, the Company’s ability to attract, retain and motivate qualified personnel, and changes in laws and regulation and the potential impact of legal proceedings and actions. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not provide any guarantees that the assumptions underlying the forward-looking statements in this announcement are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this announcement or any obligation to update or revise the statements in this announcement to reflect subsequent events. You should not place undue reliance on the forward-looking statements in this document.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.

Neither the Manager nor any of its affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein.

This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities in the Company. Neither the Company, the Manager nor any of their respective affiliates accepts any liability arising from the use of this announcement.

Attachment

• HBC - Business Presentation October 2020

Bioactive Peptides™ are in the unique position of being the first and only non-iron containing product in the US market to maintain healthy levels of ferritin and hemoglobin. As such, ProGo® is free from the gastrointestinal (GI) effects seen with iron supplementation such as nausea, vomiting, constipation, and a metallic taste. Unsurprisingly, these GI effects can result in poor compliance and variable treatment outcomes with iron supplements.

It is anticipated that HBC will now look to collaborate with global formulators and contract manufacturers to establish a major presence in the nutraceutical market with a portfolio of offerings with the aforementioned claims.

“Our vision is to utilize all off-cuts from the fish farming industry to help develop tomorrow's diet and medicine, and now we are succeeding. Our research and procedures are strong. Hofseth BioCare is a unique example of how long-term investment results in world leading technology which enables the upcycling of waste into a valuable resource. We help the fish farming industry improve its sustainability, and at the same time we contribute to improving people’s lives through better health,” says Roger Hofseth, CEO of Hofseth BioCare.

The U.S. structure function claims are based on two studies of ProGo® in adults (18 years and older). Trial 1 was conducted in 48 otherwise healthy adults with iron deficiency anemia. Trial 2, a smaller, supporting study for safety, was conducted in 14 healthy adults with normal blood counts, i.e. non-anemic subjects. Both trials used whey protein isolate (WPI) as the comparator / placebo. Unlike ProGo®, WPI did not have a significant impact on ferritin or hemoglobin in either study.

It is anticipated that HBC’s work to identify the peptide fraction driving the positive effect on ferritin and hemoglobin will be completed by Q1 2021. This will enable encapsulation of the peptide fraction and the commencement of the next stage of clinical development of the Bioactive Peptides™.

“Our product will be a better alternative for millions of people who struggle with negative side effects or poor effect of traditional iron supplementation. For Hofseth BioCare, we see vast market opportunities crystalize,” says Crawford Currie, Medical R&D, in Hofseth BioCare.

Currently dietary modification or iron supplementation, either via tablets or injection, are the only ways available to increase iron levels or absorption. Dietary modification is often impractical for social, economic or cultural reasons and iron supplementation frequently causes gastrointestinal side effects. Iron supplementation also carries the risk of toxicity from iron overload. As such, HBC believes that ProGo® now provides an important new non-iron containing option for the maintenance of healthy levels of ferritin and hemoglobin. Bioactive Peptides™ are very well tolerated and have no GI side effects, rather they support GI health.

About ProGo®

ProGo® is produced via HBC’s patented enzymatic hydrolysis of salmon offcuts (left-over “waste” of the fish after filleting). The resulting peptides and amino acids are more easily handled by the body with a resulting 98% bioavailability (absorption). Beyond nutrition, the peptides have shown significant bioactivity and aiding the maintenance of healthy blood counts. Ongoing trial work continues to further assess the health benefits of ProGo® and to identify the bioactive peptides driving the beneficial effects.

For further information, please contact:

James Berger, Head of Investor Relations & Strategy of Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

Dr. Crawford Currie, Medical R&D at Hofseth BioCare ASA
Phone: +44 7968 195497
E-mail: cc@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre-clinical studies in multiple clinics and university research labs in several countries. Additional lead clinical and pre-clinical candidates are in development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age-related Sarcopenia, and future phase 1 studies on treatment of Anemia and NEC-IBS with Salmon Protein Hydrolysate fractions.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

The application to Health Canada is based on two studies of ProGo® in adults (18 years and older). Trial 1 was conducted in 48 otherwise healthy adults with iron deficiency anemia. Trial 2, a smaller, supporting study for safety, was conducted in 14 healthy adults with normal blood counts, i.e. non-anemic subjects. Of note, ProGo® contains minimal iron (3mg/kg) and is therefore free from the gastrointestinal side effects seen with iron tablets such as nausea, constipation and a metallic taste.

About ProGo®

ProGo® is produced via HBC’s patented enzymatic hydrolysis of salmon offcuts (left-over “waste” of the fish after filleting). The resulting peptides and amino acids are more easily handled by the body with a resulting 98% bioavailability (absorption). Beyond nutrition, the peptides have shown significant bioactivity positively impacting numerous body systems including anti-inflammatory and antioxidant effects, gastrointestinal protection, weight loss and aiding the maintenance of healthy blood counts. Ongoing trial work continues to further assess the health benefits of ProGo® and to identify the bioactive peptides driving the beneficial effects.

For further information, please contact:

James Berger, Head of Investor Relations & Strategy of Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

Dr. Crawford Currie, Medical R&D at Hofseth BioCare ASA
Phone: +44 7968 195497
E-mail: cc@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age-related Sarcopenia, and future phase 1 studies on treatment of Anemia and NEC-IBS with Salmon Protein Hydrolysate fractions.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

This Health Canada approved phase 2 clinical trial will examine the benefit of CARDIO™ soft gels / OmeGo®, in combination with the best standard of care (BSC) in former smokers and/or steroid-resistant asthmatics with COVID-19. This group of patients are at a higher risk of progression to severe acute respiratory distress syndrome (ARDS) with COVID-19 infection. The inflammatory response in the lungs of these patients is typically driven by eosinophils and HBC’s research has identified a minor lipid fraction within OmeGo® that modulates eosinophil effector function.

Participants will be provided with all the equipment and resources needed to complete the study assessments virtually. Some of the planned study outcomes include improvements in daily oxygenation requirements, alleviation of COVID-19 related symptoms, and time to clinical recovery. Clinical status will be assessed by a World Health Organization clinical improvement scale.

KGK is actively recruiting participants in the Greater Toronto Area (GTA), Ottawa, Windsor-Essex County, Waterloo, Hamilton, Niagara, Middlesex-London, Guelph, and Simcoe regions to take part in the research study.

The second part of the study will recruit patients hospitalised with COVID-19, as per the prior stock exchange notices. However, this part of the trial will now be conducted in Brazil and Mexico where hospitalization rates remain high which will enable a timely recruitment schedule. The in-hospital arm is scheduled to begin by late November, pending regional regulatory approvals.

About OmeGo®

OmeGo® contains the full spectrum of omega fatty acids including EPA, DHA and DPA offering benefits on human cholesterol levels including reduction of the CVD biomarker, oxLDL-GP1, for which HBC has global patent rights. Only OmeGo® contains all the lipid-soluble compounds found in fresh salmonid fish thus providing all of the health benefits seen when consuming an oily fish-based diet. HBC uses its proprietary enzymatic hydrolysis technology to sustainably extract all the nutrients from the fish and transforms them into high value health products for human and pet consumption.

For further information, please contact:

James Berger, Head of Investor Relations & Strategy of Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

Dr. Crawford Currie, Medical R&D at Hofseth BioCare ASA
Phone: +44 7968 195497
E-mail: cc@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products. The ingredients are in various stages of discovery and preclinical development in collaboration with multiple clinics and university research labs in several countries. Lead preclinical and clinical candidates are in development toward treatment for iron-deficiency anemia, Gastro-Intestinal Inflammation (NEC/IBS/UC), prediabetes, age-related sarcopenia and osteoarthritis.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

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

The share capital increase in relation to the share issue has now been registered with the Norwegian Register of Business. The new share capital of the Company is NOK 3,302,090.01 divided by 330,209,001 shares, each with a par value of NOK 0.01.

For further information, please contact:

Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products. The ingredients are in various stages of discovery and preclinical development in collaboration with multiple clinics and university research labs in several countries. Lead preclinical and clinical candidates are in development toward treatment for iron-deficiency anemia, Gastro-Intestinal Inflammation (NEC/IBS/UC), prediabetes, age-related sarcopenia and osteoarthritis.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.

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

Eosinophils are white blood cells (leukocytes) which form part of the body’s immune system helping to deal with infections. However, overactivity of eosinophils is seen in numerous inflammatory conditions including eosinophilic asthma. Poorly controlled inflammation reduces lung function and increases the risk of asthma exacerbations and hospitalisation.

This in-vitro study investigated the prophylactic effect of HBC’s enzymatically extracted salmon oil, OmeGo®, as a proxy for eating fresh whole oily fish, on eosinophil function using allergic human peripheral blood eosinophils.

The results of the study show that prophylactic treatment of allergic human peripheral blood eosinophils with OmeGo® modulates eosinophil effector function (measured via shape change assay and integrin expression) and increases apoptosis (programmed cell death). The eosinophil inhibition with OmeGo® was comparable to APOA-IV (active control) and markedly better than processed salmon oil. Krill oil and standard fish oil showed no to low eosinophil modulation. This indicates that a non-Omega fraction in OmeGo® provides this targeted action of modulating eosinophil function and that this fraction is mostly destroyed in processed salmon oil and absent in Krill oil and standard “18/12” fish oil.

Pre-clinical work with OmeGo® targeting eosinophil effector function is ongoing with guinea pig dosing studies and house dust mite studies. Human studies in eosinophilic asthma are planned to commence in 2021. A phase 2/3 trial (NCT04465513) of OmeGo® in the treatment of eosinophilic COVID-19 patients is ongoing and interim results are expected during Q4 2020. The trial is randomising patients with early Covid-19 pulmonary symptoms to best standard of care (BSC) vs BSC and OmeGo® CARDIO soft gels to prevent disease progression to severe respiratory distress. The primary endpoint is the number of days on assisted ventilation.

About 7-8% of the population suffer from asthma. Eosinophils are estimated to be important drivers of asthma in up to 40% of asthmatics overall and in up to 60% of patients with severe asthma. Inhaled bronchodilators (“relievers”), which expand the airways in the lungs, and inhaled corticosteroids, which reduce airway inflammation, are a mainstay of asthma treatment. However, a significant number of patients still suffer from asthma symptoms and exacerbations and are commonly referred to as steroid treatment resistant asthma patients, typically the result of eosinophil dysfunction. Additional treatment options targeting the underlying asthma disease process, especially those delivered orally, would be of significant benefit to patients struggling to gain adequate asthma control from standard therapy.

About OmeGo®

OmeGo® contains the full spectrum of omega fatty acids including EPA, DHA and DPA offering benefits on human cholesterol levels including reduction of the CVD biomarker, oxLDL-GP1, for which HBC has global patent rights. Only OmeGo® contains all the lipid-soluble compounds found in fresh salmonid fish thus providing all of the health benefits seen when consuming an oily fish-based diet. HBC uses its proprietary enzymatic hydrolysis technology to sustainably extract all the nutrients from the fish and transforms them into high value health products for human and pet consumption

Chronic obstructive pulmonary disease (COPD) is a type of obstructive lung disease characterized by long-term breathing problems and poor airflow. It is most commonly caused by smoking. The main symptoms include shortness of breath and cough with sputum production. COPD is a progressive disease, meaning it typically worsens over time. As well as its progressive nature patients suffer acute exacerbations with a sudden worsening of symptoms and associated increased lung inflammation. Around 20%-40% of COPD patients have raised blood eosinophils.

The full article from the Functional Foods in Health and Disease journal is attached.

For further information, please contact:

James Berger, Head of Investor Relations & Strategy at Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

Dr. Crawford Currie, Medical R&D at Hofseth BioCare ASA
Phone: +44 7968 195497
E-mail: cc@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products. The ingredients are in various stages of discovery and preclinical development in collaboration with multiple clinics and university research labs in several countries. Lead preclinical and clinical candidates are in development toward treatment for iron-deficiency anemia, Gastro-Intestinal Inflammation (NEC/IBS/UC), prediabetes, age-related sarcopenia and osteoarthritis.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

Attachment

• Study modulation of eosinophil effector function FFHD

James Berger has now exercised a total of 1,135,120 share options, as 324,320 share options are exercisable due to the volume weighted average price of the Company's shares having been at least NOK 8.00 over a period of 45 trading days and 810,800 share options are exercisable as the 9 month anniversary of the date of the consultancy agreement has passed. The exercise price of the share options is NOK 0.01 per share option.

On this background, the Board of Directors of the Company has now resolved to issue 1,135,120 new shares to James Berger, at a price of NOK 0.01 per share. The new shares are expected to be delivered to Berger during the middle of September 2020.

Following this, James Berger holds 3,267,955 shares in the Company and 5,349,280 share options.

The issuance of the new shares imply that the Company's share capital will increase with NOK 11,351.20. Following completion of the share capital increase, the Company's share capital will be NOK 3,302,090.01 divided by 330,209,001 shares, each with a par value of NOK 0.01.

For further information, please contact:

Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

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