BerGenBio

Share Issue/Capital Change • Jun 26, 2024

BerGenBio ASA: Grant of share options

BerGenBio ASA: Grant of share options

Bergen, Norway, 26 June 2024 - BerGenBio ASA (the "Company") (OSE:BGBIO), a

clinical-stage biopharmaceutical company developing novel, selective AXL kinase

inhibitors for severe unmet medical needs, today announce that the Board of

Directors has granted options to employees.

The annual general meeting in the Company on 23 May 2024 approved the share

option program and authorised the board of directors of the Company to issue up

to 3,908,711 share options to the Company's employees as part of a long-term

incentive plan.

Options granted under the share option program will normally vest equally over a

three-year period from the date of grant and each option, when exercised, will

give the right to receive one share in the Company at a fixed strike price set

at time of grant. Options granted under the share option program expire eight

years after grant date.

A total of 1,315,000 share options were granted, equal to 3.3% of total issued

shares in the Company and 3.1% on a fully dilutive basis including all

outstanding options. The strike price for this grant is NOK 11.226 per option

equal to the volume weighted average share price the last 14 days before the

grant.

Share options granted in 2023 or earlier have been adjusted because of the

reverse share split approved by the Annual General Meeting 23 May 2024.

Accordingly, total number of options have been divided by 100 and strike price

multiplied by 100. The total number of options outstanding after the adjustment

and before today's grant are 1,149,765 of which 21,672 are vested and 1,128,093

are not vested.

Following today's grant the total issued share options equals 6.3% of the total

issued shares in the Company and 5.9% on a fully dilutive basis. Total options

outstanding after this grant are 2,464,765. Of this, 21,672 share options are

vested and 2,443,093 not vested.

Of the total grant the following were granted to primary insiders (total

holdings of share options following this grant):

Martin Olin - CEO: 350,000 (599,501)

Rune Skeie - CFO: 165,000 (288,981)

Cristina Oliva - CMO: 165,000 (287,001)

In total 680,000 share options were granted to primary insiders.

The board considers an option program as an important element in attracting and

retaining employees to foster long-term success. The board considers the option

program terms and allocation to be at the market for comparable peers.

-End-

Contacts

Martin Olin

CEO, BerGenBio ASA

ir@bergenbio.com

Rune Skeie

CFO, BerGenBio ASA

rune.skeie@bergenbio.com

Investor Relations / Media Relations

Jan Lilleby

jl@lillebyfrisch.no

About BerGenBio ASA

BerGenBio is a clinical-stage biopharmaceutical company focused on developing

transformative drugs targeting AXL as a potential cornerstone of therapy for

aggressive diseases, including cancer and severe respiratory infections. The

Company is focused on its proprietary lead candidate, bemcentinib, a potentially

first-in-class selective AXL inhibitor in development for STK11 mutated NSCLC

and severe respiratory infections. BerGenBio is based in Bergen, Norway with a

subsidiary in Oxford, UK. The company is listed on the Oslo Stock Exchange

(ticker: BGBIO). For more information, visitwww.bergenbio.com

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.