Each warrant of series TO 3 entitles the holder to subscribe for one (1) new share in PHI at a price of SEK 3.78 per share during the exercise period that started on 11 April 2023 and runs until and including 2 May 2023.

For warrants not to expire worthless, warrant holders must subscribe for new shares, with the support of warrants, at 17:00 CEST on 2 May 2023, at the latest, alternatively sell warrants no later than on 27 April 2023.

For more information, including a more detailed description of PHI's operations as well as complete terms and conditions, please refer to the prospectus that was prepared in connection with the rights issue and published by the Company on 28 March 2023.  The prospectus is available on PHI's website (https://phiab.com/ir/). More information about the Company and the offer is also available on the websites of PHI (www.phiab.com), Sedermera Corporate Finance AB (www.sedermera.se) and Nordic Issuing AB (www.nordic-issuing.se). Complete terms and conditions for warrants of series TO 3 are available on the Company's website (www.phiab.com).

• 27 April 2023: Last day of trading in warrants

• 2 May 2023: The exercise period ends

• 4 May 2023: Planned communication of the outcome of the warrant exercise

• 23 May 2023: Planned conversion of interim shares to ordinary shares

Advisors

In connection with the exercise of warrants of series TO 3, Sedermera Corporate Finance AB is acting as financial advisor, Markets & Corporate Law Nordic AB as legal advisor and Nordic Issuing AB as issuing agent. Shark Communication AB is assisting the Company with advice regarding communication.

For more information about the warrants of series TO 3, please contact:

Sedermera Corporate Finance AB
Phone: +46 40 615 14 10
E-mail: cf@sedermera.se (info@sedermera.se)
www.sedermera.se