NON-REGULATORY PRESS RELEASE

Oslo, April 24, 2024: Ultimovacs ASA ("Ultimovacs") (OSE ULTI), a clinical-stage
biotechnology   company  developing  immunotherapeutic  cancer  vaccines,  today
announces  that the data  from the Phase  II clinical trial INITIUM (NCT04382664
(https://clinicaltrials.gov/study/NCT04382664?term=ultimovacs&rank=2)),  will be
presented  in a poster session at the 2024 ASCO Annual Meeting, taking place May
31 - June 4, 2024, in Chicago, IL & Online.

INITIUM is an Ultimovacs-sponsored randomized, comparative, multicenter Phase II
trial  evaluating  the  company's  therapeutic  cancer  vaccine candidate UV1 in
combination  with the checkpoint  inhibitors ipilimumab and  nivolumab as first-
line  treatment in unresectable or metastatic  malignant melanoma. The trial was
conducted  at 39 hospitals across the U.S.,  U.K., Belgium, and Norway, and 156
patients were enrolled between June 2020 and July 2022.

The  poster presentation features key findings  and analyses after a minimum 18-
month follow-up of the patients in the trial.

Presentation Details:

Abstract Number: LBA9519
Abstract  Title: Ipilimumab  and nivolumab  plus UV1,  an anticancer vaccination
against telomerase, in advanced melanoma.

Session Title: Poster Session - Melanoma/Skin Cancers
Poster Board: 303
Date and Time: June 1, 2024 1:30 PM - 4:30 PM (CT)
Presenter:  Paul Lorigan,  Professor of  Medical Oncology  at the  University of
Manchester and Investigator in the INITIUM study

Late-Breaking  Abstracts  are  under  embargo  and  will  be released at 7:00 AM
(CT)/8:00 AM (ET) on the day of the presentation.

                                    ==ENDS==

About Ultimovacs
Ultimovacs is a clinical-stage biotechnology leader in novel immunotherapeutic
cancer vaccines. The lead cancer vaccine candidate UV1 is an off-the-shelf
vaccine directed against human telomerase (hTERT), an antigen present in 85-90%
of cancers in all stages of tumor growth. A broad clinical program, with Phase
II trials in five cancer indications enrolling more than 670 patients, aims to
investigate UV1's impact in combination with other immunotherapies in multiple
cancer types. UV1 is a patented technology owned by Ultimovacs. In addition,
Ultimovacs holds all rights to the proprietary TET technology platform for any
possible future use of formulations in various solid tumor indications.

The Company is listed on the Euronext Oslo Stock Exchange (ULTI).

For further information, please contact:

Carlos de Sousa, CEO
Email: carlos.desousa@ultimovacs.com (mailto:carlos.desousa@ultimovacs.com)
Phone: +47 908 92507

Anne Worsøe, Head of Investor Relations
Email: anne.worsoe@ultimovacs.com (mailto:anne.worsoe@ultimovacs.com)
Phone: +47 90686815

This stock exchange announcement was published by Anne Worsøe, Head of Investor
Relations at Ultimovacs ASA, on April 24, 2024, at 16:15 CET.