Alligator Bioscience

Share Issue/Capital Change • Dec 2, 2024

EXERCISE PRICE DETERMINED FOR THE EXERCISE OF WARRANTS SERIES TO 9 IN ALLIGATOR BIOSCIENCE AB

Alligator Bioscience AB ("Alligator" or the "Company") hereby announces that the exercise price for warrants series TO 9 (the "warrants") has been determined to SEK 0.55. The exercise period for the warrants commences on 4 December 2024 and runs up to and including 18 December 2024. The last day for trading in the warrants is 13 December 2024.

Alligator carried out a rights issue of units during March – April 2024 (the "Rights Issue"). Each unit issued in the Rights Issue consisted of one (1) ordinary share and one (1) warrant series TO 9. One (1) warrant series TO 9 entitles the holder to subscribe for one (1) new ordinary share in the Company. If all warrants are exercised, Alligator will receive approximately SEK 55.0 million before issue costs.

The subscription price for the warrants was set at 90 percent of the volumeweighted average price for the Company's ordinary share on Nasdaq Stockholm during the period 4 – 29 November 2024. 90 percent of the volume-weighted average price during the measurement period amounted to SEK 0.55.

Summary of instructions and important dates

Holders of warrants who wish to exercise these to subscribe for ordinary shares shall give notice regarding such exercise at latest on 18 December 2024. Warrants that have not been exercised on or before 18 December 2024 expire without value. Holders who do not wish to exercise their warrants may sell them. Trading with warrants is ongoing up to and including 13 December 2024.

Detailed information and instructions for subscription

Exercise of nominee-registered warrants

Holders of warrants who have their holdings nominee-registered (holdings in securities custody services, investment savings accounts (ISK) or endowment insurances) must notify the exercise of warrants by contacting their respective nominee and follow the nominee's instructions regarding subscription and payment. This should take place well before 18 December 2024 as different nominees have different processing times.

Exercise of directly registered warrants

Holders of warrants who have their holdings directly registered (holdings on a VP account) must notify the exercise of warrants by filling in and submitting an application form for the exercise, so that the application form is received by the issuing agent, Vator Securities, no later than 18 December 2024.

The application form is available on the Company's and Vator Securities' respective websites (www.alligatorbioscience.com and www.vatorsecurities.se). Please note that payment for the new shares must be received by Vator Securities no later than 18 December 2024 in accordance with the instructions on the application form.

Trading in TO 9

Holders who do not wish to exercise their warrants may sell them on Nasdaq Stockholm. The warrants are traded up to and including 13 December 2024 under the short name ATORX TO 9 and with ISIN code SE0021629557. Warrants that are not exercised on 18 December 2024 at the latest will expire without value.

Outcome and delivery of new ordinary shares

The outcome of the exercise of warrants will be published via a press release on or around 20 December 2024. Shares that have been subscribed and paid for may be registered on the subscriber's securities depository as interim shares (IA) until registration of the issue has been completed with the Swedish Companies Registration Office, whereupon the interim shares automatically will be converted into ordinary shares in Alligator.

Number of warrants and possible proceeds

Upon full exercise of all 100,084,946 warrants series TO 9, the share capital will increase by a maximum of SEK 80,067.9568 to SEK 687,259.2256 through the issuance of a maximum of 100,084,946 new ordinary shares, resulting in that the total number of outstanding shares in the Company will increase from 758,989,086 to 859,074,032, whereof 858,124,182 are ordinary shares and 949,850 are series C shares. Upon full exercise of all warrants series TO 9, the dilution of the ordinary shares amounts to approximately 11.7 percent. The total number of votes in the Company will, following full exercise of all warrants TO 9, amount to 858,219,167.

If all warrants are exercised, Alligator will receive approximately SEK 55.0 million before issue costs.

Complete terms and conditions for the warrants

Complete terms and conditions for the warrants are available on the Company's website, www.alligatorbioscience.com.

Advisers

Vator Securities AB acts as Sole Global Coordinator and bookrunner in connection with the Rights Issue and Van Lanschot Kempen N.V. acts as financial adviser to Alligator in connection with the Rights Issue. Setterwalls Advokatbyrå AB is legal adviser to Alligator in connection with the Rights Issue. Vator Securities AB acts as the issuing agent in connection with the Rights Issue.

For further information, please contact:

Søren Bregenholt, CEO E-mail: soren.bregenholt@alligatorbioscience.com Phone: +46 (0) 46 540 82 00

The information was submitted for publication, through the agency of the contact person set out above, at 5:35 p.m. CET on December 2, 2024.

About Alligator Bioscience

Alligator is a clinical-stage biotechnology company developing tumor-directed immuno-oncology antibody drugs focused on the CD40 receptor. This validated approach promotes priming of tumor-specific T cells and reversing the immunosuppressive nature of the tumor microenvironment, with significant potential benefits for cancer patients across multiple types of cancer. Its portfolio includes lead drug candidate mitazalimab, for which the company reported unprecedented survival data at 18-months follow up in first-line metastatic pancreatic cancer patients in Phase 2 testing and is in preparation for Phase 3 development. The follow-on bispecific antibody ATOR-4066 is in preclinical testing. Alligator has a proprietary technology platform, comprised of two antibody libraries, ALLIGATOR-GOLD® and ALLIGATOR-FAB™, the powerful protein optimization strategy FIND® and the bispecific antibody format RUBY™, which drives rapid design and development of innovative drugs.

Alligator is listed on Nasdaq Stockholm (ATORX) and headquartered in Lund, Sweden.

For more information, please visit alligatorbioscience.com.

IMPORTANT INFORMATION

The information in this press release does not contain or constitute an offer to acquire, subscribe for or otherwise trade in shares, warrants or other securities in Alligator. The invitation to the persons concerned to subscribe for units consisting of shares and warrants in Alligator has only been made through the prospectus published by Alligator on 15 March 2024, and through the supplement prospectus published by Alligator on 22 March 2024. The prospectuses have been approved and registered by the Swedish Financial Supervisory Authority and have been published on the Company's website, www.alligatorbioscience.com.

Since Alligator Bioscience conducts essential services according to the Swedish Screening of Foreign Direct Investments Act (Sw. lag (2023:560) om granskning av utländska direktinvesteringar), the exercise of warrants for subscription of ordinary shares may require review by the Inspectorate of Strategic Products (ISP). The Company will, no later than in connection with the commencement of the exercise period for the warrants, publish more information about this on the Company's website, www.alligatorbioscience.com.

Attachments

Exercise price determined for the exercise of warrants series TO 9 in Alligator Bioscience AB