NON-REGULATORY PRESS RELEASE

Oslo,  June 1, 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.  The late-breaking abstract can be
found    on    the   2024 ASCO   website:   https://meetings.asco.org/abstracts-
presentations/232936

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
enrolled 156 patients between June 2020 and July 2022.

The  poster presentation  features key  findings and  analyses after 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

Following  the presentation, the poster will be available online in the Investor
section of the Company's website: https://ultimovacs.com/

                                    ==ENDS==

About Ultimovacs

Ultimovacs  is a clinical-stage biotechnology  leader in novel immunotherapeutic
cancer  vaccines  with  broad  applicability.  Ultimovacs'  lead  cancer vaccine
candidate  UV1 is directed against human  telomerase (hTERT) an antigen which is
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  demonstrate  UV1's  impact  in  combination  with other
immunotherapies  in  multiple  cancer  types  expressing  telomerase  and  where
patients  have unmet medical needs. UV1  is universal, off-the-shelf and easy to
use, and is a patented technology owned by Ultimovacs.
In  addition,  Ultimovacs  holds  all  rights  of the proprietary TET technology
platform  for any  possible future  use of  formulations in  various solid tumor
indications. The Company is listed on Euronext Oslo Stock Exchange (ULTI.OL).

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 June 1, 2024, at 14:15 CET.