NON-REGULATORY PRESS RELEASE

Oslo,  April 9, 2024: Ultimovacs  ASA ("Ultimovacs")  (OSE ULTI), Ultimovacs ASA
("Ultimovacs")  (OSE  ULTI),  a  clinical-stage biotechnology company developing
immunotherapeutic  cancer vaccines, today announced that the company will host a
webcast on April 17, 2024, at 11:00.

Ultimovacs'   management  will  provide  a  company  update  emphasizing  recent
developments   and  the  future  potential  within  the  clinical  program.  The
presentation will be followed by a Q&A session.

Date: Wednesday, April 17, 2024
Time: 11:00 (CET)
Link to webcast:
https://channel.royalcast.com/landingpage/hegnarmedia/20240417_1/
(https://urldefense.proofpoint.com/v2/url?u=https-
3A__channel.royalcast.com_landingpage_hegnarmedia_20240417-5F1_&d=DwMFaQ&c=euGZs
tcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=NB00oGVLQOaeHXBZQC-EDIkuh0a-
ih3j5C_LRXMn-
jk&m=C38XIprCpwdEkmQq6WKP2kMWhf_Di6Flp_x62NRiyg_w7bY7VPq72d4poyis6Qec&s=TRq-
c8mhaADLV5C7EWjt2oqqHAQB4Ki9W63uwQ3Flmc&e=)

The webcast can be accessed live or as a replay. Questions to the management can
be sent in advance to ir@ultimovacs.com (mailto:ir@ultimovacs.com) or during the
webcast.

                                    ==ENDS==

About Ultimovacs

Ultimovacs    is    a    clinical-stage    biotechnology    company   developing
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' adjuvant platform, based on the proprietary
Tetanus-Epitope-Targeting (TET) technology, combines tumor-specific antigens and
adjuvant in the same molecule and is in Phase I clinical development.

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

About the UV1 Phase II program

The  immunotherapeutic cancer  vaccine UV1  is investigated  in combination with
checkpoint  inhibitors in patients with  various cancer indications with diverse
tumor biology. The clinical strategy behind the UV1 Phase II program's diversity
is  to evaluate  the potential  broad applicability  of the  cancer vaccine when
combined with other immunotherapies:

  * INITIUM: Evaluating UV1 in combination with ipilimumab and nivolumab as
    first-line treatment for patients with malignant melanoma. Enrollment of
    156 patients completed in July 2022. Sponsored by Ultimovacs. With the 18
    months minimum follow-up of the patients in the INITIUM trial, the trial did
    not meet the primary or secondary endpoints. Median PFS was not reached in
    either arm. UV1 maintained its positive safety profile with similar safety
    and tolerability as observed in the control arm.

  * NIPU: Evaluating UV1 in combination with ipilimumab and nivolumab as second-
    line treatment for patients with malignant pleural mesothelioma. Enrollment
    of 118 patients completed in January 2023. Data presented at the ESMO
    Congress in October 2023, showed that UV1 as add-on to ipilimumab and
    nivolumab, demonstrated a statistically significant and clinically
    meaningful improvement of overall survival versus ipilimumab and nivolumab
    alone. 31% of the patients receiving UV1 vaccine experienced an objective
    response, compared to 16% in the control arm. The investigator-initiated
    study is led by Oslo University Hospital and supported by Bristol-Myers
    Squibb and Ultimovacs.

  * FOCUS: Evaluating UV1 in combination with pembrolizumab as first-line
    treatment for patients with head and neck cancer. Enrollment of 75 patients
    completed in August 2023, expected readout Q3 2024. The investigator-
    initiated study is led by Halle University in Germany, supported by
    Ultimovacs.

  * DOVACC: Evaluating UV1 in combination with olaparib and durvalumab as
    maintenance therapy in non-BRCA mutated patients with advanced ovarian
    cancer. 75 of 184 patients enrolled as of Q4 2023 reporting, expected
    readout H1 2025. The investigator-initiated study is led by NSGO-CTU and
    supported by ENGOT, AstraZeneca, and Ultimovacs.
  * LUNGVAC: Evaluating UV1 combined with cemiplimab as first-line treatment of
    non-small cell lung cancer patients. 23 of 138 patients enrolled as of Q4
    2023 reporting, expected readout H1 2026. The investigator-initiated study
    is led by Vestre Viken (Drammen Hospital) and supported by Ultimovacs.

About UV1
UV1  is a universal cancer vaccine designed to induce a specific T-cell response
against  telomerase.  UV1  consists  of  long, synthetic peptides representing a
sequence  in the reverse  transcriptase subunit of  telomerase (hTERT), shown to
induce   CD4+  T-cells.  These  CD4+  T-cells  have  the  potential  to  provide
inflammatory  signals,  and  T-cell  support  is  believed  to  be  critical for
triggering a strong anti-tumor immune response. Following intradermal injection,
antigen-presenting cells (APCs) in the skin are exposed to the vaccine peptides.
These  APCs  will  process  the  peptides  and present vaccine epitopes on Human
Leukocyte Antigen (HLA) molecules to naïve T-cells in the lymph nodes. Activated
vaccine-specific  T-cells will then  enter the circulation  and search for cells
displaying their cognate antigen in the context of HLA molecules.

The  UV1 peptides contain several epitopes, shown to be non-restrictive in terms
of  (HLA) alleles for presentation. It is, therefore not required to perform HLA
pre-screening   of   patients,   which   potentially  enables  broad  population
utilization  of  the  vaccine.  UV1  is  administered over three months as eight
intradermal injections together with the immune-modulator GM-CSF.

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 9, 2024 at 20:00CET.