Orexo

Capital/Financing Update • Apr 30, 2014

Press release

Orexo issues a SEK 500 million bond loan on the Swedish bond market

Uppsala, Sweden – April 30, 2014 - Orexo AB (publ) has decided to issue a four-year senior unsecured bond loan of SEK 500 million with maturity on May 9, 2018. The bond loan will have a floating interest rate of Stibor 3m + 4.00% and a total framework amount of SEK 1 billion. Orexo intends to apply for listing of the bonds on NASDAQ OMX Stockholm.

Pareto Securities AB has acted as sole bookrunner and Gernandt & Danielsson has acted as legal adviser to Pareto. Vinge has acted as legal adviser to Orexo.

"We are very pleased with the solid interest for the bond amongst investors. The issue strengthens our financial position further and is an important step in financing the continued expansion of Zubsolv, as well as to decrease current bank debt", said Nikolaj Sørensen, President and CEO of Orexo.

For additional information, please contact:

Henrik Juuel, CFO and EVP Phone: +46 (0)72-220 94 77, E-mail: ir@orexo.com

Daniel Gabriel Corporate Finance, Pareto Securities Phone: +46 (0)8-402 51 95, E-mail: daniel.gabriel@paretosec.com

About Orexo

Orexo is a specialty pharma company with commercial operations in the United States and R&D in Sweden developing improved treatments using proprietary drug delivery technology and commercial operations in the United States. The company is commercializing its proprietary product, Zubsolv®, for maintenance treatment of opioid dependence, in the United States. Zubsolv is a novel formulation of buprenorphine and naloxone using Orexo's extensive knowledge in sublingual technologies. Orexo has a portfolio of two approved and revenue generating products currently marketed under license in the EU and US. Orexo AB, with its headquarters in Sweden, is listed on NASDAQ OMX Stockholm Exchange and its American Depositary Receipts (ADRs) trade on the OTCQX marketplace in the U.S. under the symbol, "ORXOY". The largest shareholders are Novo A/S and HealthCap.

For information about Orexo please visit www.orexo.com

This is information required to be disclosed by Orexo AB (publ) pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. This information was released for publication on April 30, 2014, at 1:15pm CET.