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 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.