8 December 2023: Aker BioMarine has received purchase orders of USD 6.0 million
for Algae based Omega-3 Oils (for human consumption) with a gross margin similar
to Superba. Delivery will be throughout 2024. The Algae Oil will be produced in
the company's factory in Houston, where we have built a dedicated production
line which is on stream.

"This is a great example of how we can use the skills and expertise in our
Houston production facility as a platform to grow into new product lines. We
have great synergies from both our existing equipment and teams, which enables
expansion into algae oil with limited additional costs. The move into algae oil
is exciting, especially given the current pressure on fish oil prices.", said
Matts Johansen, CEO of Aker BioMarine.

The current order book represents the total annual production capacity for algae
oil in Houston in 2024, and the company has consequently taken a strategic
decision to increase the algae oil production capacity around fivefold. This
expansion will require limited investments as the company will utilize existing
infrastructure in Houston. Estimated time to completion is 12-18 months. 

According to GOED Ingredient Market Report 2023, the total market for
algae-based omega-3 oil was USD 274 million (5,327 MT), of which dietary
supplements was USD 82 million (1,213 MT), in 2022. The average growth rate in
volume until 2025 is expected to be 10%.

For further information, please contact 
Christopher Robin Vinter, VP IR & Corporate Finance
Mobile: +47 911 60 820 
Email:  Christopher.vinter@akerbiomarine.com  

About Aker BioMarine
Aker BioMarine is a leading biotech innovator and Antarctic krill-harvesting
company developing krill-derived products for consumer health and wellness as
well as animal nutrition. The company has a strong position in its industry and
is the world's leading supplier of krill, the natural, powerful and health
promoting source of nutrients from the pristine waters of Antarctica. Aker
BioMarine is listed on Oslo Stock Exchange (AKBM). More information is available
at www.akerbiomarine.com.