Xoma AB and Arctic Roe of Scandinavia AB Sign Letter of Intent (LOI) for the Development of Vegetarian Caviar

Xoma AB ("Xoma") and Arctic Roe of Scandinavia AB ("Arctic Roe") have signed a Letter of Intent (LOI) to explore the possibility of developing a vegetarian caviar, produced in the forests of Småland, over the next six months.

As a first phase of the collaboration, Xoma, through its test facility, will supply algae to Arctic Roe. The goal is for Arctic Roe to develop a vegetarian caviar that meets their high-quality standards and can be tested by their exclusive customer base.

This caviar will be developed from our exclusive Caulerpa and will become a vegetarian caviar that maintains the same high standard as their sturgeon caviar, which can already be ordered today through this link: https://arcticroe.se/collections/all

"We at Xoma are very pleased with this collaboration. Arctic Roe represents exactly the type of partner we are looking for - a producer with the ambition to have full control over its entire food supply chain," says Isac Andersson, CEO of Xoma.

"Arctic Roe currently sells its Småland-produced sturgeon roe across Sweden as well as to a few international destinations. Naturally, we are constantly looking for opportunities to expand our product portfolio. A vegetarian caviar could be a great fit," says Torbjörn Ranta, CEO of Arctic Roe of Scandinavia.

About Arctic Roe of Scandinavia
www.arcticroe.se

Arctic Roe of Scandinavia AB, often abbreviated as "AROS" or "Arctic Roe," is a Swedish aquaculture company based in Strömsnäsbruk in southern Småland. The company was founded in 2015 but was only able to produce and sell its first jars of caviar in 2019 after many years of obtaining permits and constructing its facilities. The business operates in a former paper mill located on the banks of the Lagan River, where several other companies are also tenants.

AROS exclusively produces sturgeon roe from the Siberian sturgeon, Acipenser Baerii. Since the fish are not slaughtered but instead milked for their roe, there is no fish meat available for sale.