Tromsø, Norway, 10[th] December 2021 - ArcticZymes Technologies ASA (OSE: AZT)
will increase its share capital related to exercise of options.

The Board of Directors in ArcticZymes Technologies ASA) (OSE: AZT) have to
fulfil the Company's obligations under the share option agreements and in
accordance with the authorization granted by the general meeting on 20 May 2021,
resolved to increase the Company's share capital by NOK 200,000 by issuance of
200,000 new shares. The options have a strike price of NOK 8.00 per share.

The capital increase is expected to be registered within 7 days, and following
the issuance of the new shares. The issued share capital of ArcticZymes
Technologies ASA will be NOK 50,371,390 consisting of 50,371,390 shares, each
with a par value of NOK 1.00 after the capital increase is registered.

The information included in this announcement is such that the Company is
required to disclose in accordance with the EU Market Abuse Regulation (MAR)
section and 19 and section 5-12 of the Norwegian Securities Trading Act.

The announcement is made by CFO Børge Sørvoll, 10 December 2021, at 1258 CET.

For more information, please contact:

Børge Sørvoll
CFO
+47 95290187
ir@arcticzymes.com

About ArcticZymes Technologies ASA

ArcticZymes Technologies is a Norwegian life sciences company focused on the
development, manufacturing and commercialization of novel recombinant enzymes
for use in molecular research, In Vitro Diagnostics (IVD) and therapeutics.

Listed on the Oslo Stock Exchange since 2005 originally under the [Biotec]
ticker, as Biotec Pharmacon. The company rebranded as ArcticZymes Technologies
in 2020 under the [AZT] ticker. Its headquarters are based in Tromsø, Norway, at
the SIVA Innovation Centre.

ArcticZymes Technologies' IP and capabilities are protected via a large
portfolio of patents.

For more information, please visit the website: www.arcticzymes.com.