8.3.2024 07:30:00 CET | Thor Medical ASA | Mandatory notification of trade
primary insiders

Thor Medical ASA has appointed Mr. Brede Ellingsæter (35) as the company's Chief
Financial Officer (CFO).

Mr. Ellingsæter has until now served as the company's CFO under a service
agreement with the company's largest shareholder Scatec Innovation AS. With this
appointment, Mr. Ellingsæter will resign from Scatec Innovation and devote all
his time to support Thor Medical's ambition to become a world-leading supplier
of alpha-emitters for cancer therapy. Mr. Ellingsæter will join Thor Medical
full time no later than June 1.

Prior to Scatec Innovation, Mr. Ellingsæter served seven years with Elkem ASA,
latest in the position as Chief Financial Officer of Carbon Solutions. Mr.
Ellingsæter holds a Master of Business and Economics from Norwegian School of
Economics (NHH).

 Dr. Alf Bjørseth, CEO of Thor Medical, says: Brede has played an instrumental
role in developing our current business plan, including the roadmap for how to
scale our proprietary technology for the manufacturing of alpha-emitters from
naturally occurring thorium. I am very pleased that he has decided to devote his
experience to the further industrialization of Thor Medical.

The Board of Directors of Thor Medical has resolved to award Mr. Ellingsæter 3
100 000 share options. Each share option entitles Mr. Ellingsæter to buy one
share at NOK 1.002, equal to the volume-weighted share price over the last ten
trading days. 1 000 000 of the share options will vest on June 1, 2025, while
the remaining share options will vest with 87 500 share options on the last day
of each month following the initial vesting. The share options need to be
exercised no later than five years after the initial award. The total gross
benefit for exercised share options under this award shall be limited to Mr.
Ellingsæter's total base salary of the three-year period. The award of share
options is made subject to the approval of the company's General Meeting.

DISCLOSURE REGULATION

This information is required to be disclosed under Section 5-12 of the
Securities Trading Act.

CONTACTS

 * Dr. Alf Bjørseth, Chief Executive Officer, Thor Medical ASA, +4790773960,
   alf.bjorseth@hiptec.no 

ABOUT THOR MEDICAL ASA

Thor Medical is an emerging supplier of radionuclides, primarily alpha particle
emitters, from naturally occurring thorium. Its proprietary production process
requires no irradiation or use of nuclear reactors, and provides reliable,
environmentally friendly, cost-efficient supply of alpha-emitters for the
radiopharmaceutical industry. Thor Medical is headquartered in Oslo, Norway and
listed on the Oslo Stock Exchange under the ticker symbol 'TRMED'.

To learn more, visitwww.thormedical.no - https://www.thormedical.no.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848634/2959/4164/Download%20announcement
%20as%20PDF.pdf

Thor Medical Primary insider notification CFO.pdf -
https://kommunikasjon.ntb.no/ir-files/17848634/2959/4163/Thor%20Medical%20Primar
y%20insider%20notification%20CFO.pdf