Oslo, Norway, 25 April 2024 - Photocure ASA (the "Company") (OSE: PHO) refers to
its previous stock exchange announcement on 21 December 2023 regarding the
cancellation of up to 1,400,428 options and re-issue of options to employees.
The Company today announces the status for the cancellation and re-issue of
options. In addition, options have been issued to Ryan Kitchen that has joined
the Company as Head of Corporate Strategy, and a customary annual issue of
options to the board as resolved by the 2023 general meeting has been made. As
of today, a total of 1,400,428 options have been cancelled and a total of
653,950 options have been re-issued (excluding Ryan Kitchen and the annual board
grants), resulting in a total net reduction in options outstanding of 741,950.
All newly issued options are subject to a customary three-year vesting period.

Cancellation and re-issue of options

In addition to the completed re-issue of 399,000 options announced on 21
December 2023 to the Executive Leadership Team (ELT), Photocure has now re
-issued another 254,950 options to non-ELT employees. The 254,950 re-issued
options are part of the up to 257,214 options that were expected to be re-issued
in the 21 December 2023 announcement. For the avoidance of doubt, no further
options have been granted to the ELT.

The re-issued options to employees will have the same properties as options
issued to management, including a vesting over a three-year period and an
exercise price of NOK 61.03 as described in the Company's stock exchange
announcement on 21 December 2023.

Issue of options to the Company's new Head of Corporate Strategy

In addition to the re-issue of options, Ryan Kitchen has joined the Company as
Head of Corporate Strategy and was awarded 150,000 new options upon taking the
position. The options have now been issued. Ryan Kitchen will be deemed a person
discharging managerial responsibilities in Photocure (primary insider).

The options issued to Ryan Kitchen, which vest over a three-year period, have
been granted at an exercise price of NOK 61.92. The exercise price is equal to
the weighted average share price 30 trading days before day of grant with an
additional premium of 10% on top of the calculated average price. The options
are granted in accordance with Photocure's long term incentive program and the
Company's guidelines for remuneration of senior executives and other employees,
as approved by Photocure's annual general meeting held 28 April 2022. The share
option program and properties of the options are further described in the
remuneration guidelines.

Issue of options to the members of the board of directors

Further, the Company has issued customary annual stock options to the members of
the board of directors in accordance with the resolution made under section 5 of
the annual general meeting held 3 May 2023. The Interim Chairperson, Dylan
Hallerberg, was issued 5,298 stock options, and the other members of the board,
Johanna Holldack, Neal Shore and Malene Brondberg were issued 3,169 options
each. The strike price was set at a 10% premium to the weighted average closing
price in the 30 business days following the annual general meeting on 3 May
2023, which corresponds to a strike price of NOK 57.14 per share.

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

For further information, please contact:

Erik Dahl
Chief Financial Officer
Email: ed@photocure.no

About Photocure ASA

Photocure: The Bladder Cancer Company delivers transformative solutions to
improve the lives of bladder cancer patients. Our unique technology, making
cancer cells glow bright pink, has led to better health outcomes for patients
worldwide. Photocure is headquartered in Oslo, Norway, and listed on the Oslo
Stock Exchange (OSE: PHO). For more information, please visit us at
www.photocure.com, www.hexvix.com or www.cysview.com.

All trademarks mentioned in this release are protected by law and are registered
trademarks of Photocure ASA.

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