Oslo, 06 October 2020

In  accordance with the authorisation granted  by the Annual General Meeting 27
May  2020, the Board of Directors of PCI Biotech Holding ASA has awarded a total
of  540,000 share options to key employees. Each share option gives the right to
subscribe  for or acquire one share per  option (after PCI Biotech Holding ASA's
choice),  at a strike price  of NOK 50.36, equal to  the volume weighted average
share price (VWAP) for the last 5 days of trade prior to the grant date.

The  share options can be exercised  with 1/3 of the options after approximately
one  year, further  1/3 after approximately  two years  and the last third after
approximately   three   years.  To  ensure  long  term  ownership  by  executive
management, shares shall be held for at least three years after exercise, except
shares  to be  sold immediately  to cover  transaction costs  and tax under a so
called  cash less  exercise. The  share options  are subject  to other customary
terms  and conditions for employee incentive  programs and the share options are
lapsing in Q3 2025.

Of  the  540,000 share  options,  400,000 share  options  were  allotted  to the
following primary insiders:
90,000 share  options were  allotted to  Amir Snapir,  CMO. After the allotment,
Amir  Snapir holds a total portfolio  of 90,000 unexercised share options and 0
shares.
90,000 share  options were allotted to Ludovic  Robin, CBO. After the allotment,
Ludovic Robin holds a total portfolio of 90,000 unexercised share options and 0
shares.
70,000 share  options were allotted to Per Walday, CEO. After the allotment, Per
Walday  holds a total portfolio of 225,000 unexercised share options and 72,700
shares.
50,000 share  options were allotted to Anders  Høgset, CSO. After the allotment,
Anders  Høgset holds a total portfolio  of 150,000 unexercised share options and
64,800 shares.
50,000 share options were allotted to Ronny Skuggedal, CFO. After the allotment,
Ronny Skuggedal holds a total portfolio of 140,000 unexercised share options and
55,000 shares.
50,000 share  options were  allotted to  Lucy Wabakken,  CDO (acting). After the
allotment,  Lucy Wabakken holds  a total portfolio  of 120,000 unexercised share
options and 0 shares. Her related parties holds 10,008 shares.

The  current authorisation, as of 27 may  2020, allows for a total of 2,790,000
share  options,  of  which  1,245,500 now  have  been  granted  by  the Board of
Directors.

For more information, please contact:
Per Walday, CEO, pw@pcibiotech.no, Mobile: +47 917 93 429

This  information is subject to the disclosure requirements pursuant to sections
5-12 and 4-2 of the Norwegian Securities Trading Act.