Debt Conversion Update

21 December 2016

AquaBounty Technologies Inc.

("AquaBounty" or the "Company")

Debt Conversion Update

AquaBounty Technologies, Inc. (AIM: ABTU; OTC: AQBT), a biotechnology company focused on enhancing productivity in aquaculture and a majority-owned subsidiary of Intrexon Corporation (NYSE: XON) ("Intrexon"), announces an update to its debt conversion.

Further to the Company's announcement of 19 December 2016, the Company can confirm that it has applied for admission to trading on AIM of the 36,387,236 new common shares as a result of the proposed conversion of the Intrexon debt facility, and expects admission to occur on 22 December 2016. Following this share issue, the Company's issued share capital will consist of 193,915,210 common shares with voting rights. The Company holds no common shares in Treasury and therefore, the total number of voting rights in the Company is 193,915,210.

The above figure of 193,915,210 may be used by shareholders as the denominator for their calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.