AQUA BIO TECHNOLOGY ASA – MANDATORY NOTIFICATION OF TRADES AND DISCLOSURE OF LARGE SHAREHOLDING

Reference is made to the stock exchange notices from Aqua Bio Technology ASA (the "Company") on 30 January 2024 regarding the completion of a private placement raising gross proceeds of approximately NOK 12.46 million.

The following close associates of primary insiders and primary insiders of the Company have been allocated shares in the private placement:

• RH Industri AS, a close associate of board member Roger Hofseth, has been allocated 300,000 shares;
• Swelandia International AB, a close associate of board member Jan Petterson, has been allocated 50,000 shares; and
• Per Egil Borge, chairman of wholly owned subsidiary of the Company Skinteam Norge AS, has been allocated 78,000 shares.

Please see the attached forms in accordance with article 19 of the Market Abuse Regulation.

Viddas AS has been allocated a total of 1,000,000 shares in the private placement. Following completion of the private placement, Viddas AS and close associates will own a total of 3,073,945 shares in the Company, representing 5.32% of the outstanding shares and voting rights in the Company, and has thereby exceeded the 5% threshold pursuant to section 4-2 of the Norwegian Securities Trading Act.

This information is subject to the disclosure requirements in article 19 of the Regulation EU 596/2014 and sections 4-2 and 5-12 of the Norwegian Securities Trading Act.