Oslo, 6 September 2021        

In accordance with the authorisation granted and the remuneration policy adopted by the Annual General Meeting 28 May 2021, the Board of Directors of PCI Biotech Holding ASA (“PCI Biotech”) has awarded a total of 485,000 share options to key employees. Each share option gives the right to subscribe for or acquire one share per option (after PCI Biotech’s choice), at a strike price of NOK 19.41, equal to the volume weighted average share price (VWAP) for the last 5 days of trade prior to the grant date. The share options are granted without consideration and are subject to service based vesting conditions, with a three year vesting term and one third vested each year. The share options are lapsing in Q3 2026. Further details about the share option program are described in PCI Biotech’s remuneration policy, available on https://www.pcibiotech.no/s/PCI-Biotech-Remuneration-Policy-6-May-2021.pdf.

To ensure long term ownership by executive management, shares obtained by exercise of share options shall be held for at least one year, except shares to be sold immediately to cover transaction costs and tax under a so-called cash less exercise. Through the long-term incentive program the board expects members of the executive team to build up and maintain share ownership with a market value equal to at least one-year gross base salary, before any shares may be sold.

Of the 485,000 share options, 340,000 share options were allotted to the following primary insiders:

70,000 share options were allotted to Per Walday, CEO. After the allotment, Per Walday holds a total portfolio of 295,000 unexercised share options and 72,700 shares.

60,000 share options were allotted to Amir Snapir, CMO. After the allotment, Amir Snapir holds a total portfolio of 150,000 unexercised share options and 0 shares.

50,000 share options were allotted to Ronny Skuggedal, CFO. After the allotment, Ronny Skuggedal holds a total portfolio of 190,000 unexercised share options and 55,000 shares.

40,000 share options were allotted to Anders Høgset, CSO. After the allotment, Anders Høgset holds a total portfolio of 190,000 unexercised share options and 64,800 shares.

40,000 share options were allotted to Ludovic Robin, CBO. After the allotment, Ludovic Robin holds a total portfolio of 130,000 unexercised share options and 0 shares.

40,000 share options were allotted to Lucy Wabakken, CDO (acting). After the allotment, Lucy Wabakken holds a total portfolio of 160,000 unexercised share options and 0 shares. Her related parties holds 10,008 shares.

40,000 share options were allotted to Kristin Eivindvik, CDO. After the allotment, Kristin Eivindvik holds a total portfolio of 110,000 unexercised share options and 25,200 shares.

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

The current authorisation, as of 28 May 2021, allows for a total of 2,790,000 share options, of which 1,615,000 now have been granted by the Board of Directors.

For more information, please contact:        
Per Walday, CEO, pw@pcibiotech.no, Mobile: +47 917 93 429

This information is subject to the disclosure requirements pursuant to the market abuse regulation article 19 and to section 5-12 of the Norwegian Securities Trading Act.