Reference is made to Circio Holding ASA's (the "Company") stock exchange
announcement on 9 March 2023, in which the Company announced that it had
requested Atlas Special Opportunities, LLC ("Atlas") to subscribe and pay for
the first tranche of convertible bonds under the Investment Agreement entered
into between Atlas and the Company, consisting of 15 convertible bonds.

Atlas has today, by a notice of conversion issued to Nordic Trustee AS,
requested conversion of convertible bonds with a nominal value of NOK 5,000,000
which, pursuant to the bond terms, are convertible into 12,820,512 new shares in
the Company at a conversion price of NOK 0.39.

The Company's share capital will accordingly be increased by NOK 1.282,051.20 by
the issuance of 12,820,512 new shares upon completion of the conversion by
registration of the share capital increase in the Norwegian Register of Business
Enterprises (Nw.: Foretaksregisteret). Following the conversion, the Company's
total share capital will be NOK 21,491,228.30, divided into 214,912,283 shares,
each with a nominal value of NOK 0.10.

For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@circio.com (erik.wiklund@targovax.com)

Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Email: renate.birkeli@circio.com (renate.birkeli@targovax.com)

About Circio

Building next generation RNA therapeutics

Circio Holding ASA is a biotechnology company developing novel circular RNA and
immunotherapy medicines.

Circio has established a unique circular RNA (circRNA) platform to develop novel
circRNA medicines for cancer, vaccines, rare disease, protein replacement
therapy and cell therapy. The proprietary circVec technology is based on a
modular genetic cassette design for efficient biogenesis of multifunctional
circRNA that can be deployed for many purposes. The most advanced concept,
circAde, builds on the companyŽs validated adenovirus platform to deliver
circRNA for durable expression of therapeutic proteins directly into cancer
cells. This unique approach is the only currently known circRNA program capable
of targeting solid tumors. The circVec platform has broad potential
applications, and CircioŽs strategy is to generate one or more lead candidates
for in house development in specific disease indications and in parallel seek
partnerships for other technical applications and therapeutic areas. The circRNA
R&D activities are being conducted by the wholly owned subsidiary Circio AB
based at the Karolinska Institute in Stockholm, Sweden.

In addition to Circio's circRNA program, the Company's' clinical stage
immunotherapy programs are designed to activate the patientŽs own immune system
to fight cancer cells and provide benefit to patients with no or few treatment
alternatives. ONCOS-102 has demonstrated an excellent safety profile, strong
immune responses and clinical efficacy in several cancer types in Phase 1/2
studies, both as monotherapy and in combinations with checkpoint inhibitors or
standard-of-care chemotherapy. A phase 2 trial to confirm the therapeutic
activity of ONCOS-102 in melanoma patients resistant to PD-1 checkpoint
inhibitor treatment has been designed, and Circio is seeking external financing
and/or partnerships to continue the clinical development.

Circio's second clinical stage program is an immunotherapy targeting KRAS driver
mutations. TG01 has previously shown robust immune responses and encouraging
clinical benefit in surgically resected pancreatic cancer and is currently being
tested in two clinical trials in RAS-mutated pancreatic cancer and multiple
myeloma in the USA and Norway. These studies are being run through academic
collaborative networks, supported by prestigious research grants from Innovation
Norway and the Norwegian Research Council, creating broad future optionality for
the TG01 program at low cost to Circio.