Mr. Aarsnes (born 1969) has been CFO of Hofseth BioCare since August 2011. Previous to joining Hofseth BioCare, Mr. Aarsnes held the position as Finance Manager at Rolls Royce Marine. He has also has 10 years experience from the banking sector at Sunnmøre in Norway. Magne Johan Aarsnes holds a Master of Science in Business and Economics from NHH Bergen. He also holds the degree Authorised Financial Analyst from NHH.

Mr. Aarsnes does not currently hold any other directorships, supervisory or leading management positions other than positions in the Company and/or its subsidiaries.

Mr. Aarsnes has previously held the following directorships, supervisory or leading management positions during the last five years (other than positions in the Company and/or its subsidiaries):

• Rolls Royce Marine AS – Finance Manager
• Raffel Gaard – Chairman of the Board
• Kredittbanken ASA – Team Leader Industry / Real Estate