Lytix Biopharma ASA: Grant of share options to management and key personnel

Oslo, Norway - 23 July 2026 - Lytix Biopharma ASA (the "Company") announces that
the Board of Directors has approved the grant of 1,230,400 share options under
the Company's long-term incentive program.

Key terms of the grants
o	Each option gives the holder the right to acquire one share in the Company at
an exercise price of NOK 9.26, corresponding to the closing price of the
Company's shares on Euronext Growth Oslo on 22 July 2026.
o	No consideration is payable for the grant of the options. The applicable
exercise price must be paid upon exercise. 
o	A total of 845,900 options are subject to the Company's standard four-year
vesting schedule. Of these options, 25% will vest 12 months after the date of
grant, while the remaining 75% will vest in equal monthly instalments over the
following 36 months, subject to the option holder's continued employment or
engagement with the Company. 
o	The 384,500 options granted to Karim Benhadji are subject to a 36-month linear
vesting schedule commencing in September 2025. In recognition of services
provided since the commencement of the vesting period, 117,000 options are
deemed vested on the date of grant. The remaining 267,500 options will vest in
monthly instalments through August 2028, subject to his continued engagement
with the Company. 
o	All options expire five years after the date of grant.

Allocation of the options
The following primary insiders have been granted options:
o	Karim Benhadji, Chief Medical Officer, 384,500 options
o	Renée Amundsen, Chief Operating Officer, 769,000 options

In addition, 76,900 options have been granted to a key employee who is not a
primary insider.

Please refer to the notification forms appended hereto for further information
regarding the option grants to primary insiders of the Company.

For further information, please contact:
Gjest Breistein, CFO
E-mail: gjest.breistein@lytixbiopharma.com 

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

About Lytix Biopharma
Based in Oslo, Norway, Lytix Biopharma is a clinical-stage biotech company with
a highly differentiated oncolytic molecule platform based on world leading
research in host-defense peptide-derived molecules. Lytix Biopharma's lead
product, ruxotemitide (formerly LTX-315), is a first-in-class oncolytic molecule
representing a new approach to maintaining durable anti-cancer immunity. Lytix
Biopharma has a pipeline of molecules that work across multiple cancer
indications and treatment settings, both as monotherapy and in combination
therapy. Lytix is listed on Euronext Growth Oslo under the ticker LYTIX. 

For more information, visit www.lytixbiopharma.com.
 under the ticker LYTIX. \
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For more information\, visit www.lytixbiopharma.com.\