Oslo, Norway, 23 March 2022

Reference is made to the stock exchange announcement made by Nordic Nanovector ASA's (OSE: NANOV) (the "Company") on 31 January 2019, regarding allocation of 259,000 PSUs to employees in accordance with the authorisation granted at the Company's annual general meeting held 30 May 2018 (the "2018 AGM"). Each vested PSU will give the holder the right to receive one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.20. The total program ended at 42,675 vested PSUs which were exercised on 22 March 2022.

Out of the 42,675 vested PSUs, 14,466 PSUs were exercised by primary insiders. Malene Brondberg, CFO exercised 7,233 PSUs and Jostein Dahle, CSO exercised 7,233 PSUs.

The exercise of PSUs will be settled by issuance of new shares against warrants issued by the Company pursuant to the resolution by the 2018 AGM.

Primary insider notifications pursuant to the Market Abuse Regulation article 19 are attached.

For further information, please contact:

IR enquiries

Malene Brondberg, CFO

Cell: +44 7561 431 762

Email: ir@nordicnanovector.com

Media Enquiries

Mark Swallow/Frazer Hall/David Dible (MEDiSTRAVA Consulting)

Tel: +44 207 638 9571

Email: nordicnanovector@medistrava.com

About Nordic Nanovector:

Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The Company aspires to become a leader in the development of CD37-targeted therapies for haematological cancers and immune diseases. Nordic Nanovector's lead clinical-stage candidate is Betalutin[®], a novel CD37-targeting radioimmunotherapy designed to advance the treatment of non-Hodgkin's lymphoma (NHL). NHL is an indication with substantial unmet medical need, representing a growing market forecast to be worth nearly USD 27 billion by 2029. Nordic Nanovector retains global marketing rights to Betalutin[®] and intends to actively participate in the commercialisation of Betalutin[®] in the US and other major markets.

Further information can be found at www.nordicnanovector.com (https://nam10.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.nordicnanovector.com%2F&data=04%7C01%7CMark.Swallow%40medistrava.com%7Cbd8fdb7f05284d3963a108d9d20ae447%7C5c24475f929349d0b4e1ba6d190e92f9%7C0%7C0%7C637771766496096573%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=xp8WBxqCMdEa4qM%2FjJAyw9bnfalGpQqswXzSzRJqqWo%3D&reserved=0).

This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation, article 19, and the Norwegian Securities Trading Act, section 5 -12.