Oslo, 6 September 2021

In accordance with the authorisation granted and the remuneration policy adopted
by the Annual General Meeting 28 May 2021, the Board of Directors of PCI Biotech
Holding  ASA ("PCI Biotech") has awarded a total of 485,000 share options to key
employees.  Each share option  gives the right  to subscribe for  or acquire one
share  per option (after PCI Biotech's choice), at a strike price of NOK 19.41,
equal  to the volume weighted average share  price (VWAP) for the last 5 days of
trade   prior  to  the  grant  date.  The  share  options  are  granted  without
consideration  and are subject to service based vesting conditions, with a three
year  vesting term and one third vested each year. The share options are lapsing
in  Q3 2026. Further details about the share option program are described in PCI
Biotech's  remuneration  policy,  available  on https://www.pcibiotech.no/s/PCI-
Biotech-Remuneration-Policy-6-May-2021.pdf.

To  ensure  long  term  ownership  by  executive  management, shares obtained by
exercise  of share options shall be held for at least one year, except shares to
be  sold immediately to cover  transaction costs and tax  under a so-called cash
less exercise. Through the long-term incentive program the board expects members
of  the executive team  to build up  and maintain share  ownership with a market
value  equal to at  least one-year gross  base salary, before  any shares may be
sold.

Of  the  485,000 share  options,  340,000 share  options  were  allotted  to the
following primary insiders:

70,000 share  options were allotted to Per Walday, CEO. After the allotment, Per
Walday  holds a total portfolio of 295,000 unexercised share options and 72,700
shares.

60,000 share  options were  allotted to  Amir Snapir,  CMO. After the allotment,
Amir  Snapir holds a total portfolio of 150,000 unexercised share options and 0
shares.

50,000 share options were allotted to Ronny Skuggedal, CFO. After the allotment,
Ronny Skuggedal holds a total portfolio of 190,000 unexercised share options and
55,000 shares.

40,000 share  options were allotted to Anders  Høgset, CSO. After the allotment,
Anders  Høgset holds a total portfolio  of 190,000 unexercised share options and
64,800 shares.

40,000 share  options were allotted to Ludovic  Robin, CBO. After the allotment,
Ludovic  Robin holds a total portfolio  of 130,000 unexercised share options and
0 shares.

40,000 share  options were  allotted to  Lucy Wabakken,  CDO (acting). After the
allotment,  Lucy Wabakken holds  a total portfolio  of 160,000 unexercised share
options and 0 shares. Her related parties holds 10,008 shares.

40,000 share  options  were  allotted  to  Kristin  Eivindvik,  CDO.  After  the
allotment,  Kristin  Eivindvik  holds  a  total portfolio of 110,000 unexercised
share options and 25,200 shares.

Primary  insider notifications pursuant  to the market  abuse regulation article
19 are attached.

The  current authorisation, as of 28 May  2021, allows for a total of 2,790,000
share  options,  of  which  1,615,000 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 the
market  abuse  regulation  article  19 and  to  section  5-12 of  the  Norwegian
Securities Trading Act.