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

(Ålesund, 1 July 2022) Hofseth Biocare ASA ("HBC" or the "Company") has resolved to effect a contemplated private placement of new shares, after the close of trading on Oslo Børs 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 up to 35,490,000 new shares (the "Offer Shares") in the Company to raise gross proceeds of up to NOK 141 million. The subscription price per Offer Share is NOK 4 (the "Offer Price") and has been determined based on discussions with the potential subscribers in the Private Placement. The allocation of Offer Shares in the Private Placement will be determined by the Company's board of directors following the application period. The application period commences today at 16:30 CEST and will close at 08:00 CEST on 4 July 2022. The Company may, however, at its sole discretion, extend or shorten the application period at any time and for any reason. The Company will announce the final number of Offer Shares placed in the Private placement in a stock exchange announcement expected to be published on or about 4 July 2022.

The net proceeds of the Private Placement will be used for general corporate purposes.

The completion of the Private Placement is subject to; (i) the necessary corporate resolutions of the Company being made, i.e. approval of the Private Placement and the allocation of the Offer Shares by the Company's board of directors, and (ii) payment of all share deposits and registration with the Norwegian Register of Business Enterprises of the share capital increase in the Company pertaining to the Private Placement. The Offer Shares allocated in the Private Placement will be settled partially through cash payment and partially through conversion of debt.

CEO Roger Hofseth (through RH Industri AS) and existing shareholders Aqua-Spark and Bonafide have collectively indicated that they will subscribe for in total approximately NOK 129 million in the Private Placement.

The Offer Shares allocated in the Private Placement will be settled towards the investors in the Private Placement as soon as practicable after full payment has been received and the share capital increase pertaining to the Private Placement has been registered with the Norwegian Register of Business Enterprises. The payment date will be on or about 6 July 2022. However, Offer Shares allocated to Aqua-Spark will be resolved issued through a separate resolution to increase the share capital, with payment date on or about 24 July 2022. Aqua-Spark will receive Offer Shares allocated to them as soon as possible after full payment from Aqua-Spark has been received, and the share capital increase pertaining to those Offer Shares has been registered. In addition, delivery of Offer Shares may be made on a delivery versus payment for up to 2 million Offer Shares through a share lending arrangement between Ødegård Prosjekt AS (a close associate of CFO Jon Olav Ødegård) and the Company.

The Company's board of directors has considered the structure of the contemplated 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 it is in the common interest of the Company and its shareholders to raise equity through the Private Placement. The existing shareholders' preferential rights to subscribe for new shares may be deviated from. By structuring the equity raise as a private placement, the Company is expected to raise equity efficiently, with no discount to the current trading price, at a lower cost and with a significantly lower risk compared to a rights issue. Further, the Offer Price has been fixed to a premium towards the prevailing market price of the Company's shares. Based on the foregoing, it is currently not planned to conduct a subsequent repair issue directed towards shareholders not participating 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, CCO at HBC
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

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

About HBC:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator for new pharmaceutical drug leads. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies ongoing in multiple clinics and university research labs. Lead clinical and pre-clinical candidates are focused on developing an oral treatment for inflammatory disease driven by eosinophils (a type of white blood cell). Clinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as in COVID. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

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

This information was considered to be inside information pursuant to the EU Market Abuse Regulation. This stock exchange announcement was published by Jon Olav Ødegård, Chief Financial Officer, on the time and date provided.

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.

In the United Kingdom, this communication is only addressed to and is only directed at "qualified investors" within the meaning of Regulation (EU) 2017/1129 as it forms part of the laws of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (including any statutory instruments made in exercise of the powers conferred by such act) 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.

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 nor any of its affiliates accept any liability arising from the use of this announcement.

Correction: Notification Form

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

Attachment

• 220506 Notification Form

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

Cash and cash equivalents decreased by NOK 19.3m during the quarter, leaving total holding of cash and cash equivalents at NOK 30.6m by the end of the period, compared to NOK 138.5m by the end of the first quarter 2021. Including credit facilities, HBC had NOK 67.6m in free liquidity by the end of the first quarter 2022.

Commercial update

The first quarter started will with a growth in sales in the ingredient business of 93.5 % vs the previous period last year. The quarter ended with a sales of NOK 31m compared to NOK 17m in Q1 of 2021. This is in line with the strong order book of NOK 40m which was created in Q4 as indicated in the previous quarterly report and during Q1.

The increase is coming from a significant improvement of sales prices throughout all ingredients and a shift into higher value application like super premium pet food, human nutrition, and nutritional supplements. This conversion from feed and basic pet food is expected to continue in the remaining quarters of 2022 and will contribute not only to the top line, but also to the bottom line.

Highlights in the first quarter

• The first quarter started with a growth in sales in the ingredient business of 93.5 %, compared to the same period last year and record order book.
• Our first preclinical assay work of SPH peptides in prostate cancer was published in the journal Marine Drugs this quarter. This work demonstrated that, in combination with androgen deprivation therapy, the SPH peptides enhance anti-tumour activity.
• Our first clinical trial for CalGo®, demonstrating the enhanced absorbability of CalGo® compared to calcium carbonate in post-menopausal women has been accepted for publication in the Biomedical Journal of Scientific and Technical Research.
• We have identified 8 structurally similar peptides which drive the FTH1 actions of SPH. These peptides have previously unknown structures with novel composition of matter claim potential. This will lead to a broader IP claim set for HBC.

Please find the HBC Q1 2022 Financial report attached.

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

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator for new pharmaceutical drug leads. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies ongoing in multiple clinics and university research labs. Lead clinical and pre-clinical candidates are focused on developing an oral treatment for inflammatory disease driven by eosinophils (a type of white blood cell). Clinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as in COVID. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

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

Attachment

• HBC Q1 2022 Financial Report

For further information, please contact:
Jon Olav Ødegård, CFO 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 consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients 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 focused on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. 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. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, New Jersey, and Palo Alto.

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

Attachment

• 220429 - Notification form Brilliant Invest 2 AG

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 consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients 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 focused on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. 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. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotizing enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.
The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts.
Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, New Jersey, and Palo Alto.

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

Attachment

• Minutes AGM

Please find the notice to the Annual General Meeting attached and relevant documents referred to in the notice are made available on www.hofsethbiocare.com.

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 consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients 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 focused on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. 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. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, New Jersey, and Palo Alto.

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

Attachment

• Notice of Annual General Meeting 2022

Please find the Annual Report 2021 and ESG Report 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 consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients 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 focused on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. 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. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age- related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, New Jersey, and Palo Alto.

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

Attachments

• hofsethbiocareasa-2021-12-31-no
• HBC Annual Report 2021
• HBC ESG Report 2021

A global leader in marine lipid and peptide research, HBC uses patent-protected hydrolysis technology to convert fresh sashimi-grade salmon byproducts into nutritional ingredients to support human health. Through this gentle enzymatic hydrolysis process, HBC preserves the quality of the lipids, proteins, lipo-proteins and calcium/collagen from fresh salmon off-cuts to produce three ingredients: ProGo® bioactive peptides, CalGo® calcium collagen complex, and OmeGo® full spectrum omegas. Thanks to their unique antioxidant and anti-inflammatory properties, these ingredients have earned clinically-proven, never-before-seen health claims and US FDA, Health Canada and EFSA approval.

“We’re proud to see our sustainable approach to research, technology and human nutrition recognised through these prestigious awards,” comments Dr Crawford Currie, Head of Medical R&D at HBC. “We look forward to the future, as we continue to build on our core values of sustainability, optimal utilization of natural resources and full traceability.”

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients 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 focused on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. 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. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age- related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

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

For further information on HBC, please contact:
Dr. Crawford Currie, Head of Medical R&D
Email: cc@hofsethbiocare.com

The award recognises the 15 years’ R&D and wide-ranging applications of the company’s three ingredients: ProGo® bioactive peptides, CalGo® calcium collagen complex, and OmeGo® full spectrum omegas. With 34 clinical studies and patents completed or underway, and 48 health and structure / function claims from US FDA, Health Canada and EFSA, the scientific evidence continues to grow.

What makes HBC different is its ability to convert fresh sashimi-grade salmon byproducts alone into nutritional ingredients to support human health, using a truly circular business model with zero waste. As part of the Hofseth Group, it is the only fully integrated, sustainable (carbon-neutral by 2025) salmon business devoted to human nutrition and wellbeing.

A safe, patented enzymatic hydrolysis process is used to gently extract the ingredients from fresh salmon offcuts. Importantly, this means the ingredients are subject to minimal processing with no additives, antibiotics or GMO.

Dr. Tanja Schaffer, Executive Vice President, Global Ingredients at HBC commented: “We are delighted to be recognised as the Most Innovative Human Medical Nutrition Producer 2021 by ghp. Our products are the most sustainable and traceable marine ingredients available globally. We believe their potential is amplified through our innovative research platform, which can identify new health benefits from marine ingredients with proven commerical significance”.

For further information on HBC, please contact:
Dr. Tanja Schaffer, Executive Vice President, Global Ingredients
tanja@hofsethbiocare.com

For press information, please contact:
Camille Seone, BDB
camille@bdb.co.uk

About Hofseth BioCare ASA

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients 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 focused on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. 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. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age- related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

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

Cash and cash equivalents decreased by NOK 35.9m during the quarter, leaving total holding of cash and cash equivalents at NOK 49.7m by the end of the period. Including credit facilities, HBC had NOK 86.8m in free liquidity by the end of the fourth quarter 2021.

Commercial update

Q1 2022 has started very strongly. The order book after just the first month of trading in 2022, is setting a record, standing at NOK 25.2m, four times higher than the same period last year. This has been due to more orders with higher value and indicative of broad-based momentum for all products.

Furthermore, the supply of OmeGo® and PHP is now very tight vs our indicated demand into H1/2022 so the pricing outlook is also positive for the year ahead. Given the new extensive health claims we can now use with the FDA in the US and with EFSA in Europe, the short and medium-term outlook for the use of HBC ingredients in higher priced human applications is strong.

Highlights in the fourth quarter

• HBC has during the fourth quarter successfully achieved New Dietary Ingredient (NDI) status from the FDA for OmeGo® and CalGo®.
• Our work with IMCD is progressing favourably and their laboratories have formulated additional new formats and product prototypes, such as popular gummies and chewable tablets to offer their clients. First commercial orders were also generated during the fourth quarter.
• Stanford University have completed the statistically significant trial that confirmed the effectiveness of SPH on reducing intestinal injuries in the classical TNBS-induced inflammatory bowel disease (IBD) model.
• Aqua Spark has become a new strategic investor in HBC and Amy Novogratz was elected a new member to the Board of Directors in December.

Please find the HBC Q4 Financial report attached.

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 consumer and pet health ingredient supplier and an incubator for new pharmaceutical drug leads. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies ongoing in multiple clinics and university research labs. Lead clinical and pre-clinical candidates are focused on developing an oral treatment for inflammatory disease driven by eosinophils (a type of white blood cell). Clinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as in COVID. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through an innovative hydrolysis technology, HBC can preserve the quality of the lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, 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 2021 Financial Report

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

The proposal for supplementary election of Amy Novogratz to the Board of Directors was approved.

Board Member Christoph Baldegger from Bonafide commented: "We welcome Aqua-Spark's nomination of Amy Novogratz to the board of directors. She is an outstanding ambassador for sustainable aquaculture and an experienced professional that we expect will contribute positively to the management of HBC. We are also very happy to have Aqua-Spark as an investor as we believe they share similar values and vision for the company’s success. We have levered our long-term strategic holding to attract a new, like-minded valuable investor onto the holder’s register – this is great news for shareholders."

Amy Novogratz says: “I am truly excited to begin this journey on HBC’s board of directors. Aqua-Spark’s investment team has been sincerely impressed by the totality of the circular economy business model and sustainability thesis of upscaling value from salmon side streams to unique nutritional ingredients for medical grade applications. Furthermore, the natural competitive advantage it already has with its thorough patent portfolio protecting both its production technology and ingredient health benefits really makes this company stand out. Its our belief that HBC will prove to be the global leader in human grade marine ingredients in the years to come.”

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 consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients 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 focused

on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. 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. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions

of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia. The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts.

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

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

Attachment

• Minutes EOGM

Vancouver, British Columbia, 2nd December, 2021 / Globe Newswire / – KetamineOne Capital Limited (“Ketamine One” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: MY0), a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments, is pleased to announce that its wholly-owned contract research organization, KGK Science Inc. (“KGK” or the “CRO”), has successfully assisted its client, Hofseth Biocare ASA (HBC.OL) (“HBC” or the “Client”), to receive New Dietary Ingredient (“NDI”) status from the United States Food and Drug Administration (the “FDA”) for its patented CalGo® and OmeGo® branded products. HBC is a leading manufacturer and marketer of unique and innovative marine-derived calcium, protein, collagen, and lipid nutritional supplements.

Summary Highlights of the FDA’s NDI Process for HBC:

• The FDA’s NDI notification process is the only pre-market gate for demonstrating quality as well as safety for both ingredients and manufacturing processes.
• If the ingredient is an NDI or it has been processed in a novel way, an NDI notification is required for the US market per federal law (statute).
• Not all companies follow the US statutory obligation to file NDI notifications.
• The historical acknowledgment rate of NDI notifications by the FDA is only c. 30%.
• HBC complied with the FDA’s statutory requirement to submit NDI notifications for the dietary ingredients contained in these novel dietary supplements, and innovative technology in how these ingredients are extracted from Norwegian Atlantic salmon.
• The two letters that HBC received for CalGo® and OmeGo® are the highest safety rating and attestation the company could have received from the FDA.
• CalGo® is allowed to deliver calcium at 874 mg/day, phosphorus at 460 mg/day and marine collagen protein at 1500 mg/day
• OmeGo® is approved for up to 2000 mg/day for DHA and EPA polyunsaturated fatty acids.

HBC is now part of an exclusive list of companies that have successfully obtained NDI status with the FDA for their novel dietary ingredients contained in these two nutritional supplements. CalGo® has been assigned NDI report number 1225 and OmeGo® has been assigned NDI report number 1226. Approximately 50 NDI ingredients are reviewed annually by the FDA but historically only around 30% have received an FDA Acknowledgement (“AKL”) letter. The Client received separate FDA AKL letters, also called no-objection letters, for its two branded products based upon identity and safety within the FDA’s 75-day statutory evaluation period in which to respond.

CalGo® and OmeGo® are globally recognized, high quality nutritional supplements with patented innovative technology. Over recent years, HBC has invested a significant amount of capital to research these ingredients and developed a robust portfolio of patents and trademarks to protect its proprietary rights. It utilizes a novel, innovative, and sustainable hydrolysis technology to extract the full nutritional content from Norwegian Atlantic salmon. The FDA’s evaluation in an NDI review looked at both the identity of the source material and how it was processed, as well as the safety of the ingredients contained in the nutritional supplement products.

The Federal Food, Drug, and Cosmetic Act (“FD&C Act”) requires that manufacturers and distributors who wish to market dietary supplements that contain “new dietary ingredients” notify the FDA about these ingredients. The notification should include identity and chemistry information about the novel ingredients as well as the basis upon which the manufacturer or distributor has concluded that a dietary supplement containing an NDI will reasonably be expected to be safe under the conditions of use recommended or suggested in the labelling. (See Section 413(d) of the FD&C Act, 21 U.S.C. 350b(d).)

“As a valued client of KGK, HBC has a novel and innovative technology for extracting nutritional components from Atlantic salmon in a very sustainable way. The FDA evaluated that innovative process and the ingredients contained in these two novel nutritional supplements and, in return, has offered the highest safety rating possible. These two acknowledgement letters from FDA speaks to the quality and safety of HBC’s CalGo® and OmeGo®,” said Najla Guthrie, President & Chief Executive Officer of KGK. “These FDA no-objection letters also help HBC in the global market as many countries outside of the US are looking for attestation that the FDA has reviewed nutritional supplements for safety. HBC has navigated that regulatory hurdle and can check that box,” added Ms. Guthrie.

“CalGo® is permitted to deliver calcium at 874 mg/day, phosphorus at 460 mg/day and marine collagen protein at 1500 mg/day. OmeGo® is approved for up to 2000 mg/day for DHA and EPA polyunsaturated fatty acids. The FDA’s NDI process is the highest benchmark of safety that a manufacturer or distributor of supplements can achieve. KGK has significant experience in helping its clients achieve their goals by earning these high marks of achievement and providing them with significant market distinction,” said Dr. Corey Hilmas, Chief Regulatory Officer of KGK. “Consumers and retailers are starting to understand what it means to have an NDI no-objection letter from the FDA. They can have confidence that the serving levels in these products are correctly chosen, based upon appropriate scientific methods and FDA review,” added Dr. Hilmas.

Angelika Florvaag, Chief Quality Officer at HBC commented: “At HBC we pride ourselves in producing superior health ingredients to enhance human health and quality of life, above and beyond what is currently available in the market today. CalGo® and OmeGo® are uniquely traceably sourced from fresh, sashimi grade Norwegian Atlantic salmon. It is very exciting to see the US FDA endorse to such a degree, the safety and quality of our products with significant dosing flexibility, which will enable the products to be used in multiple formats and delivery methods for health supplementation.”

ABOUT HOFSETH BIOCARE

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients 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 focused

on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. 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. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions

of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

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

ABOUT KGK SCIENCE

Founded in 1997, KGK is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on the nutraceutical, cannabis and emerging psychedelic industries. The business has successfully helped hundreds of companies with custom designed clinical trials and claim substantiation strategies to move products into global markets. KGK’s other existing service lines include expert regulatory support and compliance solutions, participant recruitment, research support services and consulting services. On an approximate basis, the business to date has produced 150 publications, executed over 400 clinical trials across more than 40 indications, amassed 25,000 participants in its database and collected 10 million data points.

ABOUT KETAMINE ONE

KetamineOne Capital Limited (formerly Myconic Capital Corp.) is a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments. It is working to provide the critical infrastructure needed to develop and deliver breakthrough mental health treatments. Currently, Ketamine One has a network of clinics across North America, with plans to further consolidate the highly fragmented industry. KGK Science Inc. is the Company’s wholly owned contract research division, which places it at the forefront of premium clinical research based on the subsidiary’s history and extensive experience in pharmaceuticals, cannabis, and the emerging psychedelic medicine industries. As a collective enterprise, Ketamine One is dedicated to helping solve the growing need for safe and accessible mental health therapy.

For further information, please contact:

Adam Deffett, Interim CEO of KetamineOne or Nick Kuzyk, Investor Relations at KetamineOne
Tel: 1-844-PHONE-K1 (1-844-746-6351)
Email: IR@ketamine.one
www.ketamine.one
Twitter: @KetamineOne

Dr. Crawford Currie, Head of Medical R&D at Hofseth BioCare ASA
Tel: +44 7968 195 497
E-mail: cc@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 of Hofseth BioCare ASA. After the transaction, Mr. Hofseth owns 105,000 shares privately and 51,500,000 shares through his a wholly owned company RH Industri AS, totalling 51,605,000 shares and corresponding to 14.42 % 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

All shareholders are encouraged to submit a voting proxy to the chairman of the board in lieu of attending the 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.

Please find the notice attached.

For further information, please contact:

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

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

Attachment

• 211108 - Notice EGM - BoD election

Our ability to delineate the unique health benefits of our ingredients has resulted in both unique health claims as well as patent filings to protect the underlying IP. However, this work has also led to the discovery of a number of potential pharmaceutical drug leads.

Led by our CSO, Bomi Framroze, this discovery work has identified (1) a unique lipopeptide compound in OmeGo® that targets type 2 / allergic inflammation, (2) a set of structurally related peptides that help the body correct iron deficiency anemia and (3) a peptide group that reduces GI inflammation and enhances GI barrier function. All our GI discovery drug lead work is in collaboration with a world leading research centre, Stanford School of Medicine.

HBC continues work to optimise the bioactivity of these potential therapeutic agents and maximise IP protection. Once we have fully elucidated the bioactivity of the drug leads, priority disease targets will be defined. This work will also factor in conditions where approved oral treatment options are either limited or not available. Strategic options will also be determined as how best to proceed with clinical development and optimise value to HBC shareholders.

Please find the attached document on potential pharmaceutical leads for more information.

For further information, please contact:

Dr. Crawford Currie, Head of Medical R&D
Tel: +44 7968 195 497
E-mail: cc@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian is a consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients 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 focused on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. 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. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as ‘ProGo’) as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.
The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts.

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

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

Attachment

• 211105 - HBC Drug Leads

Highlights in the third quarter

• HBC hired Dr. Tanja Schaffer as Executive Vice President for HBC's Global Ingredients division and as CEO of HBC's new Swiss subsidiary HBC Switzerland GmbH.
• Led by our CSO, Bomi Framroze, this discovery work has identified three potential pharmaceutical drug leads;
  • unique lipopeptide compound in OmeGo® that targets type 2 / allergic inflammation
  • set of structurally related peptides that help the body correct iron deficiency anemia and
  • peptide group that reduces GI inflammation and enhances GI barrier function.
• Appointed Dr. Zubair Hussain as Senior Regulatory Consultant in September 2021 with over 25 years' experience in Regulatory Affairs and has held senior global roles, including Pfizer and Novartis.
• Stanford University have initiated the statistically significant mouse trial to confirm the effectiveness of SPH/ProGo® on reducing intestinal injuries in the classical TNBS/DDS-induced inflammatory bowel disease (IBD) model.

Post-period highlights

• Two Asthma and COPD clinical trials with OmeGo® are now both in the final stage of preparation and have received ethics committee approvals for planned start in Q4 2021.
• Our efforts at developing a pharmaceutical lead program around eosinophilia inflammation control is on-going with rapid success and US/PCT patent filings.

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

• Further elucidation of SPH’s GI protective properties: Our collaborators at Stanford University have initiated a large, fully powered for statistical significance t mouse trial to confirm the effectiveness of SPH on reducing intestinal injuries in the classical TNBS/DDS-induced inflammatory bowel disease (IBD) model. This trial will included using negative control peptides for calorie equivalence (to control for nutrition effects) and measure anti-oxidative gene regulation (such as HMOX-1) in serum and tissue samples to further characterize the mode of action.
• Work towards the identification of the peptides driving GI health benefits: We completed the molecular weight range fractionation of SPH to help identify the peptides in SPH driving the reduction in IBD based on HO1 (heme-oxygenase) gene regulation activity. The results were not conclusive and we have initiated a charge-based fraction effort in Q3 with results expected early in 2022.
• Isolating the peptides driving the resolution of anemia: We have identified 8 related bioactive peptides in SPH that up-regulate the FTH1 gene and these have been assessed for IP (intellectual property) novelty. Several peptides were found to be potential new chemical entities (novel structures). These peptides promote the production of the heavy chain of ferritin protein which increases the body’s storage capacity for iron. We are completing an in-silico study leading to a series of new QSAR based peptide leads. This will enable follow-up in-vitro testing as well as broaden the scope of our patent filings. Process optimization to manufacture SPH with an increased concentration of the FTH1 upregulating peptides is ongoing. with good preliminary results
• Targeting acne: We successfully completed a series of invitro assays that positively demonstrate the potential for polar bioactive peptides in SPH to modulate acne development, via both anti-inflammatory and antimicrobial modes of action. Follow-up animal model assays are planned for in 2022.
• Targeting allergic inflammation (asthma): Synthesis of the lead eosinophilia modulating lipopeptide MA-022 is on-going in preparation for a first animal preclinical trial in 2022.
• Further profiling OmeGo® in the reduction of allergic inflammation: The final House Dust Mite allergy preclinical trial to modulate eosinophilia with orally administered OmeGo® at two ranging doses (high/low) was initiated and the results are expected in Q4.
• First human data for CalGo® is expected in Q4. We have initiated our first safety in human clinical trial for CalGo®, to measure serum calcium 24h after oral administration of CalGo or calcium carbonate. The study is titled: “A randomized, blinded, calcium carbonate-controlled cross-over study of serum ionized calcium levels 24h after Strength™ oral supplementation in post-menopausal women", and the report is expected in Q4.

Please find the HBC Q3 Financial report attached.

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 consumer and pet health ingredient supplier and an incubator for new pharmaceutical drug leads. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies ongoing in multiple clinics and university research labs. Lead clinical and pre-clinical candidates are focused on developing an oral treatment for inflammatory disease driven by eosinophils (a type of white blood cell). Clinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as in COVID. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions of salmon protein hydrolysate (SPH also known as ‘ProGo’) as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through an innovative hydrolysis technology, HBC can preserve the quality of the lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, 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 Q3 2021 Financial Report

In a board meeting held on 4 October 2021, the board of directors of HBC noted that Aqua Spark has shown interest in HBC over time and has carried out a thorough due diligence process of HBC prior to the investment, including on-site visits. The Board also notes that Aqua Spark is expressing intentions to be a long-term, significant shareholder in HBC and offered to nominate Amy Novogratz to the board of directors of HBC.

On basis of this, the Board has decided to call for an extraordinary general meeting with a proposal that Amy Novogratz is elected to the board of directors of HBC. The notice of the extraordinary general meeting will be issued within the next week.

Roger Hofseth, CEO of HBC and chairman of RH Industri AS (shareholder in HBC), says: "Aqua Spark is a professional and knowledgeable organization with a lot of experience in the aquaculture sector. We are positive to Aqua Spark's nomination of Amy Novogratz to the board of directors of HBC."

Bonafide says: "We welcome Aqua Spark's nomination of Amy Novogratz to the board of directors. She is an outstanding ambassador for sustainable aquaculture and an experienced professional that we expect will contribute positively to the management of HBC."

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

Ola Holen, Chairman of the Board in Hofseth BioCare ASA
Phone: +47 913 69 253
E-mail: oh@hofseth-as.no

About Aqua Spark

Launched in 2014, Aqua-Spark is an investment fund with a mission to transform the global aquaculture industry into one that is healthier, more sustainable, and more accessible. They invest in aquaculture companies across the value chain—spanning farming operations, alternative feed ingredients, disease-battling technology, and consumer-facing aquaculture products. These companies are solving some of the industry's big challenges while bringing returns that are comparable to today's traditional industry. The portfolio works as an ecosystem, with the companies agreeing to collaborate on optimal solutions, and working together toward this shared vision of a more efficient global aquaculture industry.

Since 2015, the fund has invested in 22 complementary SMEs. Thus far, Aqua-Spark has EUR 212 million in assets under management, dedicated to investments in elements of the aquaculture industry that will make fish farming sustainable. The goal of the fund is to ultimately make sustainability widespread and profitable enough that it becomes the only way to farm fish.

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, Palo Alto and Tokyo.

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

Aqua Spark is a global investment fund based in the Netherlands that invests in companies along the whole value chain of the aquaculture sector.

Roger Hofseth, CEO of HBC, said: "We know Aqua Spark as a highly competent investor within the aquaculture sector that shares our sustainability focus, and we are delighted to welcome Aqua Spark as a new significant shareholder in HBC and appreciates the belief Aqua Spark expresses about our products and prospects."

Amy Novogratz & Mike Velings, cofounders of Aqua-Spark: "We are extraordinarily enthusiastic about our investment in Hofseth Biocare. We were first attracted to HBC because their products perfectly close the loop of a circular economy business model by enzymatically hydrolysing the side streams of non-GMO antibiotics-free, Norwegian Atlantic salmon, reducing waste, and increasing the financial and nutritional value of the whole fish, which is an instrumental step in furthering the sustainability of the aquaculture industry. We believe that the company is on the cusp of an inflection point operationally and from a R&D perspective. In addition, the health benefits are truly extraordinary, and we are excited to see the latest results from trials and studies to be completed later this year and next. We view the company as a ‘“best-in-class’” manufacturer of consumer health and pet health ingredients, and as an incubator of new drug leads. The latter is certainly something that the market has overlooked. Hofseth Biocare has incredible findings and patents, as well as ongoing trials in the fields of Asthma and IBS, where its natural health products may be able to address a significant unmet need for mild to moderate cases of both conditions. We have stepped into the listed market for the first time as we believe that this company’s potential is significant and undervalued by public markets on a long-term view."

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

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