Photocure ASA

Exercise of employee share options in Photocure ASA

Oslo, Norway, 31 August 2020.

Participants in Photocure ASA's ("Photocure") share option program have on 31

August 2020 exercised a total of 17,366 options, distributed as follows:

· 9,100 options exercised according to the option program for 2016 at a strike

price of NOK 40.15,

· 5,766 options exercised according to the option program for 2017 at a strike

price of NOK 38.06, and

· 2,500 options exercised according to the option program for 2019 at a strike

price of NOK 50.72.

Share options are described in note 7 in Photocure's annual financial statements

for 2019.

Following the exercise, the Board of Directors, pursuant to authorization

granted by the company's Annual General Meeting, has decided to increase the

company's share capital by NOK 8,683.00 by issuing 17,366 new shares, each with

a par value of NOK 0.50. Subsequent to the transaction Photocure's share capital

will be NOK 13,313,693 divided into 26,627,386 shares. No primary insiders have

exercised options in this window.

For further information, please contact:

Photocure CFO Erik Dahl

Tel: +47 450 55 000

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, www.cysview.com

This information is subject to the disclosure requirements pursuant to sections

5-12 and 4-2 of the Norwegian Securities Trading Act.

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