THIS DOCUMENT IS NOT TO BE DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, RUSSIA, BELARUS OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE SUBJECT TO LEGAL RESTRICTIONS.

The last day of the subscription period in ISAB's Rights Issue is today, May 9, 2023. Subscription of shares can be made through Hagberg & Aneborn Fondkommission's website www.hagberganeborn.se/transaktionjon/inhalation-sciences-sweden-ab.

The outcome of the Rights Issue will be announced around May 12, 2023.

• All existing shareholders received five (5) subscription rights for each one (1) share held on the record date of April 20, 2023, and twelve (12) subscription rights entitle the holder to subscribe for one (1) newly issued share.
• The subscription price is SEK 3.60 per share.
• Upon full subscription in the Rights Issue, the Company will receive approximately MSEK 17.1 before issuing costs.
• The Rights Issue is covered to approximately 80 percent through subscription and guarantee commitments.

Advisors

ISAB has appointed Stockholm Corporate Finance AB as financial advisor and Fredersen Advokatbyrå AB as legal advisor. Hagberg & Aneborn Fondkommission AB is the issuing agent in connection with the Rights Issue.

Important information

The publication, announcement or distribution of this press release may be subject to restrictions in certain jurisdictions. Recipients of this press release in jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction.

This press release does not constitute or form any part of an offer or solicitation to buy or subscribe for securities in the United States. The information in this press release may not be announced, published, copied or distributed, directly or indirectly, in or into the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, Russia, Belarus or any other jurisdiction in which the announcement, publication or distribution of the information would not comply with applicable laws and regulations or would require a prospectus, registration or other measures than those required by Swedish law.

This announcement does not constitute or form any part of any offer or solicitation to acquire, subscribe for, sell or in any other way trade in shares or other securities in the Company. This document has not been approved by any authority and the information does not constitute a prospectus. In any EEA Member State, this communication is only addressed to qualified investors in that Member State within the meaning of the Prospectus Regulation (2017/1129).

Forward-looking statements

This press release contains forward-looking statements that reflect the Company's intentions, beliefs or current expectations and goals regarding the Company's future operations, financial condition, liquidity, results of operations, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and can be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might" or, in each case, their negative, or similar, expressions. The forward-looking statements in this press release are based on various assumptions, many of which are in turn based on additional assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, actual results or performance could differ materially from those reflected in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from error and does not accept any responsibility for the future accuracy of the views expressed in this press release or any obligation to update or revise the statements in this press release to reflect subsequent events. Undue reliance should not be placed on the forward-looking statements in this press release. The information, opinions and forward-looking statements contained in this press release speak only as of the date hereof and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm or release any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release.