AQUA BIO TECHNOLOGY – PRIMARY INSIDER NOTIFICATIONS – MANDATORY NOTIFICATIONS OF LARGE SHAREHOLDINGS AND VOTING PROXIES

Reference is made to the stock exchange notice issued on 7 January 2019 by Aqua
Bio Technology ASA (the "Company) regarding, inter alia, results of the private
placement described therein and in earlier stock exchange notices (the "Private
Placement").

The following primary insiders have been allocated shares in the Private
Placement:

  * Chairman Edvard Cock (through his wholly owned company Blixen Invest AS) has
    been allocated 500,000 new shares in the Private Placement at a subscription
    price of NOK 2.50 per new share. Following completion of the Private
    Placement, Edvard Cock (through his wholly owned company Blixen Invest AS)
    will hold a total of 500,000 shares in the Company.

  * Director Jan Pettersson (through associated companies Initia AB and
    Swelandia International AB) has been allocated 1,200,000 new shares in the
    Private Placement at a subscription price of NOK 2.50 per new share.
    Following completion of the Private Placement, Jan Pettersson (through
    associated companies) will hold a total of 2,520,000 shares in the Company

  * Director Kristin Aase and related party Espen Dahl (including associated
    companies) has been allocated 600,000 new shares in the Private Placement at
    a subscription price of NOK 2.50 per new share. Following completion of the
    Private Placement, Kristin Aase and related parties will hold a total of
    1,013,265 shares in the Company.


The allocation in the Private Placement made by the Company's board of directors
on 6 January 2019 imply that the following shareholders will surpass thresholds
for mandatory notification of ownership:

  * Finnvik Eiendom AS (a company wholly owned by Roger Hofseth, who is proposed
    to be elected as new board member in the extraordinary general meeting to be
    held today) has been allocated 1,500,000 new shares in the Private Placement
    at a subscription price of NOK 2.50 per share. Prior to completion of the
    Private Placement, Finnvik Eiendom AS hold 687,000 shares and votes in the
    Company, corresponding to 9.89% of the shares and votes in the Company.
    Following completion of the Private Placement, Finnvik Eiendom AS will hold
    2,187,000 shares and votes in the Company corresponding to 18.79% of the
    total outstanding shares and votes in the Company after the Private
    Placement.

  * Jan Pettersson (through associated companies Initia AB and Swelandia
    International AB) has been allocated 1,200,000 new shares in the Private
    Placement at a subscription price of NOK 2.50 per new share. Prior to
    completion of the Private Placement, Jan Pettersson (through associated
    companies) hold 1,320,000 shares and votes in the Company, corresponding to
    19.01% of the shares and votes in the Company. Following completion of the
    Private Placement, Jan Pettersson (through associated companies) will hold a
    total of 2,520,000 shares and votes in the Company corresponding to 21.65%
    of the total outstanding shares and votes in the Company after the Private
    Placement.

  * Haav Holding AS (a company wholly owned by Jørn Haavald Abrahamsen) has been
    allocated 140,000 new shares in the Private Placement at a subscription
    price of NOK 2.50 per share. Prior to completion of the Private Placement,
    Haav Holding AS hold 420,000 shares and votes in the Company, corresponding
    to 6.05% of the shares and votes in the Company. Following completion of the
    Private Placement, Haav Holding AS will hold 560,000 shares and votes in the
    Company corresponding to 4.81% of the total outstanding shares and votes in
    the Company after the Private Placement.


Further, Chairman Edvard Cock has received proxies without voting instructions
for a total number of 493,265 shares and votes, corresponding to 7.10% of the
total outstanding shares and votes in the Company prior to the Private
Placement.


This information is subject to the disclosure requirements pursuant to sections
4-2, 4-3 and 5-12 of the Norwegian Securities Trading Act.