Agilyx — Capital/Financing Update 2023

Jan 27, 2023

Agilyx ASA– Capital increase as a result of options being exercised

Agilyx ASA– Capital increase as a result of options being exercised

Oslo, 27 January 2023: Reference is made to the authorization granted to the board of directors Agilyx ASA (“Agilyx” or the “Company”) by the Company’s annual general meeting held on 12 May 2022 to increase the share capital in connection with the Company's stock option program. As a result of exercise of options issued thereunder which each gives right to receive one ordinary share in the Company, the Company’s board of directors has resolved to increase the Company's share capital with NOK 12,624.98 by the issuance of 631,249 new shares, each with a par value of NOK 0.02. The stock option program and options issued are described in note 9 and 10 in the Company’s annual financial statements for 2021.

The Company’s board of directors has approved 110’000 options for cashless exercise. All corresponding shares have been sold.

Options below are exercised for holding shares by the following primary insider of the Company:

On 27 January 2023, primary insider of Agilyx ASA, Joe Vaillancourt, exercised 500’000 options in Agilyx ASA at a strike price of NOK 0.57 per option resulting in 500’000 shares in Agilyx ASA. Mr Vaillancourt will subsequently hold 512’513 shares and 1’377’700 options in Agilyx ASA. Mr Vaillancourt agreed to a lock-up undertaking pursuant to which, during his tenure with the Agilyx Group, he will (i) exercise any of his vested options in Agilyx ASA solely for the purposes of holding shares in Agilyx ASA, and (ii) not dispose of any Agilyx ASA shares with the exception of the disposal of shares in Agilyx ASA the proceeds of which he will use to meet personal US tax obligations resulting from the option exercise.

Another employee of the Company (not being a primary insider) exercised 21,249 options for holding shares.