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The Extraordinary General Meeting in Hofseth BioCare ASA was held at the premises of the Company in Ålesund, Norway today Friday 3 December 2021.

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

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


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