DISCLOSURE OF LARGE SHAREHOLDING – DIRIGENT AS

Reference is made to the stock exchange announcements made by Aqua Bio Technology ASA ("ABT" or the "Company") on 23 July 2023 regarding the Company entering into an agreement in principle with the shareholders of Skinteam Norge AS (the "Sellers") ("Skinteam") and the stock exchange announcements on 23 and 24 July 2023 regarding the Private Placement and the contemplated Subsequent Offering as described therein. Reference is furthermore made to the stock exchange notice earlier today, 3 August 2023, regarding entry into of a final agreement for the Company's acquisition of Skinteam, which also included information on the Company having secured voting undertakings from shareholders representing more than 2/3 of the shares in the Company to where they have undertaken to vote in favour of all resolutions necessary to implement the Private Placement and the contemplated Subsequent Offering in the upcoming extraordinary general meeting (the "EGM") that will be held on 24 August 2023.

As a consequence of the voting undertakings, the conditions for completion of the Private Placement will be satisfied and it is therefore considered to correct to disclose the change in shareholding at this time.

Dirigent AS was allocated 3,058,211 new Shares in the Private Placement. The share capital increase relating to the Private Placement will be approved by an extraordinary general meeting of the Company, to be held on 24 August 2023.

Following issuance of these new shares, and upon registration of the corresponding share capital increase in the Norwegian Register of Business Enterprises and subsequent delivery of such shares, Dirigent AS will hold a total of 3,058,211 shares in the Company, representing 6.68 % of the total number of shares and voting rights.

The disclosure obligation was triggered by Dirigent AS crossing above the 5 % threshold of total number of voting rights and shares in the Company.

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