ABT terminates distribution agreement for skincare series Cuvget

Reference is made to Aqua Bio Technology's announcement on 26 November 2019
about the skincare series ?uvget, which has been part of the company's product
portfolio. As disclosed in the release, neither the feedback from the market
regarding the ?uvget products in their current form nor the sales of the
skincare series have met ABT's expectations.

ABT has today decided to terminate the distribution agreement for ?uvget.
However, ABT will continue to sell the products in an 18-months sell off period.

The main ingredient in the skincare series ?uvget is Arctic chaga, a fungus
growing on birch trees in the Arctic. The substance has been known in Russian
and Sami nature medicine for centuries. ABT has filed a patent application for
the use of the chaga fungus in certain concentrations as an ingredient in new
skincare products. ABT's belief in chaga's potential as an active ingredient in
cosmetics remains strong. The termination of the distribution agreement for the
skincare product entails that ABT holds the rights under the patent application
for the use of chaga as an ingredient.

For further information, please contact acting CEO Espen Kvale, telephone
+47 9162 8092.

Aqua Bio Technology (ABT) is developing and commercializing sustainable
biotechnology for use in skin care products. ABT's cosmetics ingredients are
highly effective and they provide the cosmetics industry with natural
alternatives to traditional ingredients. ABT is also marketing and distributing
natural skin care products developed by partners towards consumers and
professional users. Aqua Bio Technology is listed on the Axess market of the
Oslo Stock Exchange.

This information is subject of the disclosure requirements pursuant to section
of 5-12 of the Norwegian Securities Trading Act.