Oncoinvent ASA

Share Issue/Capital Change • Jan 23, 2025

Oncoinvent ASA: Commencement of subscription period for subsequent offering

Oncoinvent ASA: Commencement of subscription period for subsequent offering

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Oslo, 23 January 2025

Reference is made to the stock exchange announcement by Oncoinvent ASA ("Oncoinvent" or the "Company") on 22 January 2025 regarding the board of directors resolution to carry out a subsequent offering (the "Subsequent Offering").

The Subsequent Offering consists of an offer by the Company to issue up to 5,500,000 new shares (the "Offer Shares"), each with a nominal value of NOK 0.10, at a subscription price of NOK 2 per Offer Share ("Subscription Price"), being equal to the subscription price in the private placement in the Company completed on 11 December 2024. Subject to all Offer Shares being issued, the Subsequent Offering will result in NOK 11,000,000 in gross proceeds to the Company.

The subscription period in the Subsequent Offering will commence today, on 23 January 2025 at 09:00 hours (CET) and expire on 6 February 2025 at 12:30 hours (CET).

The Subsequent Offering is, subject to applicable securities laws, directed towards shareholders of the Company as of 27 November 2024, as registered as such in the Company's shareholders register in Euronext Securities Oslo, the Norwegian Central Securities Depository (the "ESO") on 29 November 2024 (the "Record Date") who at such date held 16,000 or fewer shares, and (i) were not allocated shares in the Private Placement, and (ii) are not resident in a jurisdiction where such offering would be unlawful, or would require any approval, filing, registration or similar action of a registration document or prospectus (such eligible shareholders jointly the "Eligible Shareholders").

Each Eligible Shareholder will be granted 4.10340 non-transferable subscription right ("Subscription Right") for every existing shares registered as held by such Eligible Shareholder as of the Record Date, rounded down to the nearest whole Subscription Right. Each Subscription Right will, subject to applicable law, give the right to subscribe for, and be allocated, one (1) Offer Share in the Subsequent Offering. Over-subscription and subscription without Subscription Rights will be permitted.

The Subscription Rights must be used to subscribe for Offer Shares prior to expiry of the Subscription Period on 6 February 2025 at 12:30 hours (CET). Subscription Rights that are not used to subscribe for Offer Shares before the expiry of the Subscription Period will have no value and will lapse without compensation to the holder.

The payment date for the Offer Shares will be on or about 11 February 2025. Subject to timely payment of the Offer Shares subscribed for and allocated in the Subsequent Offering, the issuance and delivery of the Offer Shares pertaining to the Subsequent Offering is expected to be completed on or about 18 February 2025 and the Offer Shares are expected to commence trading on Euronext Growth Oslo on or about the same day.

The Company, in consultation with the Managers (as defined below), reserves the right to cancel the Subsequent Offering at any time at its sole discretion.

Advisors:

Carnegie AS and DNB Markets, a part of DNB Bank ASA are acting as managers in the Subsequent Offering (the "Managers").

Advokatfirmaet Thommessen AS is acting as legal advisor to the Company. Advokatfirmaet Wiersholm AS is acting as legal advisor to the Managers.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About Oncoinvent

Oncoinvent ASA is a clinical stage, radiopharmaceutical company developing innovative treatments for solid cancers. The technology platform is focused on the use of alpha-emitting radionuclides to deliver powerful radiation directly to cancer cells. The Company’s lead product candidate, Radspherin®, is being advanced through clinical development by a team with experience from all stages of radiopharmaceutical development. Internal manufacturing and supply chain capabilities have been established, which now have the capacity to supply Radspherin® for multi-center phase 2 clinical studies.

For further information, please contact:

Øystein Soug, Chief Executive Officer

Email: soug@oncoinvent.com

Tore Kvam, Chief Financial Officer

Email: kvam@oncoinvent.com

Important information

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.

The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States.

This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State.

The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Managers are acting for the Company and no one else in connection with the Subsequent Offering and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the Subsequent Offering and/or any other matter referred to in this release.

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company’s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.