Photocure ASA

Remuneration Information • Jul 20, 2022

Photocure ASA – Share option grant

Photocure ASA – Share option grant

Oslo, Norway, 20 July 2022 - Photocure ASA (the "Company") (OSE: PHO) has granted share options to employees and members of the board of directors.

A total of 715,028 share options, equal to 2.6% of total shares issued in the Company, were granted at an exercise price at NOK 114.89. The exercise price is equal to the weighted average share price 30 trading days before day of grant with an additional premium of 10% on top of the calculated average price.

Out of the total grant, 710,500 options have been granted to employees. The options are granted in accordance with Photocure's long term incentive program and the Company's guidelines for remuneration of senior executives (the "Guidelines"), as approved by Photocure's annual general meeting held 28 April 2022. The share option program and properties of the options are further described in the Guidelines.

Out of the total grant, 4,528 options have been granted to board members. The Company has implemented the option grant to the board of directors in accordance with the proposal by the nomination committee as resolved by the annual general meeting of Photocure on 28 April 2022. The share options to the members of the board of directors are granted at terms similar to the share option program for management (as described in the Guidelines), with adjustments as set out in the nomination committee's proposal to the annual general meeting held on 28 April 2022.

Of the total grant the following was granted to primary insiders:

- Daniel Schneider, President and Chief Executive Officer, 130,000 options.

- Erik Dahl, Chief Financial Officer, 90,000 options.

- Geoffrey Coy, Vice President and General Manager of North America Operations, 65,000 options.

- Susanne Strauss, Vice President and General Manager of Europe Operations, 65,000 options.

- Grete Hogstad, Vice President Strategic Marketing & Business Development, 35,000 options.

- Anders Neijber, Vice President Global Medical Affairs and Clinical Development, 60,000 options.

- David Moskowitz, Head of Investor Relations, 25,000 options.

- Jan H. Egberts, Chairperson of the board, 1,312 options.

- Neal Shore, Member of the board, 804 options.

- Johanna Holldack, Member of the board, 804 options.

- Anders Tuv, Member of the board, 804 options.

- Anne Worsøe, Member of the board, 804 options.

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

For further information, please contact:

Erik Dahl

Chief Financial Officer

Tel: +47 450 55 000

Email: ed@photocure.no

About Photocure ASA

Photocure: The Bladder Cancer Company delivers transformative solutions to improve the lives of bladder cancer patients. Our unique technology, making cancer cells glow bright pink, has led to better health outcomes for patients worldwide. Photocure is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (OSE: PHO). For more information, please visit us at www.photocure.com, www.hexvix.com or www.cysview.com.

All trademarks mentioned in this release are protected by law and are registered trademarks of Photocure ASA.

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