Ola Holen, chairman of the Board of Hofseth BioCare ASA (the "Company" or "HBC"), has in connection with the upcoming extraordinary general meeting on 11 November 2020, received proxy rights without voting instructions from shareholders representing 43,319,914 shares in the Company, equal to approx. 12.21% of the voting rights.

Mr. Holen owns as of the date hereof a total of 1,465,253 shares, equal to 0.41 per cent of the outstanding shares in HBC. 935,388 shares are owned via his fully owned company, Paso AS, and 529,865 shares are held privately.

After the receipt of the above-mentioned proxies, Mr. Holen represents a total of 44,785,167 shares and votes, equal to 12.62% of the voting rights at the upcoming extraordinary general meeting in HBC on 11 November 2020.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Mob: +47 93632966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age-related Sarcopenia, and future phase 1 studies on treatment of Anemia and NEC-IBD with Salmon Protein Hydrolysate fractions.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. 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, Chicago, Mumbai, Palo Alto and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

This information is subject to the disclosure requirements pursuant to Sections 4-3 and 5-12 of the Norwegian Securities Trading Act