DISCLOSURE OF LARGE SHAREHOLDING – AQUA-SPARK

Reference is made to the stock exchange announcement by Hofseth BioCare ASA (the " Company ") on 3 July 2022 regarding completion of a private placement of new shares (the " Private Placement "). In the Private Placement, the Company will issue a total of 35,490,000 new shares.Aqua-Spark Coöperatieve U.A. applied for and was allocated 10,350,000 shares in the Private Placement at a price per share of NOK 4.  After the issuance of the new shares in the Private Placement, the shareholding of...

Reference is made to the stock exchange announcement by Hofseth BioCare ASA (the "Company") on 3 July 2022 regarding completion of a private placement of new shares (the "Private Placement"). In the Private Placement, the Company will issue a total of 35,490,000 new shares.

Aqua-Spark Coöperatieve U.A. applied for and was allocated 10,350,000 shares in the Private Placement at a price per share of NOK 4.  After the issuance of the new shares in the Private Placement, the shareholding of Aqua-Spark will be more than 5% of the Company's share capital.

Following the Private Placement, Aqua-Spark will hold 22,450,000 shares in the Company, corresponding to 5.71% of the shares and votes outstanding after completion of the Private Placement.

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