Long-Term Incentive Plan - grant of share options to primary insiders

19 Dec 2021 21:34 CET

Tromsø, Norway, 19[th] December 2021 - The Board of Directors in ArcticZymes
Technologies ASA (the "Company") has decided to grant 500,000 share options to 4
members of the Company's senior management under the Company's long-term
incentive plan, which was approved by the Annual General Meeting on 20 May 2021.

The strike price of the options are NOK 89.52 - which is equal to the volume
weighted average price for the Company's shares on the Oslo Stock Exchange in
the 30 days' period prior to the grant date. The options will have a 12 months
waiting period, a 36 months vesting period and 12 months exercise period.

The options are granted in accordance with the Company's guidelines for
remuneration to senior management approved by the Annual General Meeting on 20
May 2021.

The following primary insiders were granted options:

Jethro Holter, CEO, was granted 170,000 options, following which he holds in
total 170,000 options and 80,564 shares (after registration and selling of
shares published on the stock exchange 10[ ]December 2021).

Børge Sørvoll, CFO, was granted 130,000 options, following which he holds in
total 330,000 options and 25,428 shares.

Olav Lanes, VP R&D and applications, was granted 100,000 options, following
which he holds 100,000 options and 2,000 shares.

Marit Sjo Lorentzen, Director of Operations, was granted 100,000 options,
following which she holds 115,000 options and 20,331 shares.

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.

More information:
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549842_Award_of_options_December_2021.pdf
549842_JH_KRT_1500_December_2021_Stock_exchange.pdf
549842_OL_KRT_1500_December_2021_Stock_exchange.pdf
549842_BS_KRT_1500_December_2021_Stock_exchange.pdf
549842_MSL_KRT_1500_December_2021_Stock_exchange.pdf