Photocure ASA

Share Issue/Capital Change • Mar 14, 2022

Photocure ASA: Exercise of employee share options and share capital increase

Oslo, Norway, 14 March 2022: Participants in Photocure ASA's ("Photocure" or the "Company") share option program have on 14 March 2022 exercised a total of 2,750 options distributed as follows:

• 500 options exercised according to the option program for 2019 at a strike price of NOK 50.72;
• 1,250 options exercised according to the option program for 2020 at a strike price of NOK 81.41; and
• 1,000 options exercised according to the option program for 2020 at a strike price of NOK 87.39.

Each option gives a right to receive one share in the Company. The share options are described in note 7 and 23 in Photocure's annual financial statements for 2020.

Following the exercise, the Board of Directors, pursuant to authorisation granted by the Company's Annual General Meeting, has decided to increase the Company's share capital by NOK 1,375 by issuing 2,750 new shares, of par value NOK 0.50. Subsequent to the transaction, Photocure's share capital will be NOK 13,488,285 divided into 26,976,570 shares, each share having a par value of NOK 0.50 and carrying one vote in the Company's general meeting.

No primary insiders have exercised share options.

For further information, please contact:

Photocure CFO Erik Dahl Tel: +47 450 55 000 Email: ed@photocure.com

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.