BerGenBio

Share Issue/Capital Change • May 7, 2021

BerGenBio ASA: Grant of share options

Bergen, Norway, 7 May 2021 – BerGenBio ASA (the "Company") (OSE:BGBIO) announced that the Board of Directors has granted share options to employees.

The annual general meeting in the Company 19 March 2021 approved the share option program and authorised the board of directors of the Company to issue shares to the Company's employees as part of a long-term incentive plan and share option program.

Options granted under the share option program will vest equally over a three-year vesting period following the grant and each option, when exercised, will give the right to acquire one share in the Company at the strike price. Options granted under the share option program expire eight years after grant date.

A total of 1,379,871 share options, equal to 1.57% of total shares issued in the Company, were granted at strike price at NOK 28,55 calculated as the volume weighted average share price over the last two weeks before the grant.

Of the total grant the following were granted to primary insiders (total holdings of share options following this grant):

Richard Godfrey - CEO: 217,361 (1,759,978)

Rune Skeie - CFO: 54,340 (297,097)

James Barnes - Director of Operations: 64,122 (301,522)

Gro Gausdal - Director of Research: 31,983 (175,359)

Alison Messom - Director of Clinical operations: 61,068 (169,068)

Endre Kjærland - Associate Director of IP and Contracts: 31,052 (161,577)

In total 459,926 share options were granted to primary insiders.

Following this grant a total of 4,890,208 share options are issued, equal to 5.56% of the total shares issued in the Company. Of this, 2,011,507 share options are vested and 2,848,949 are not vested.

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About BerGenBio ASA

BerGenBio is a clinical-stage biopharmaceutical company focused on developing transformative drugs targeting AXL as a potential cornerstone of therapy for aggressive diseases, including immune-evasive, therapy resistant cancers. The company's proprietary lead candidate, bemcentinib, is a potentially first-in-class selective AXL inhibitor in a broad phase II clinical development programme focused on combination and single agent therapy in lung cancer, leukaemia and COVID-19. A first-in-class functional blocking anti-AXL antibody, tilvestamab, is undergoing phase I clinical testing. In parallel, BerGenBio is developing a companion diagnostic test to identify patient populations most likely to benefit from AXL inhibition: this is expected to facilitate more efficient registration trials supporting a precision medicine-based commercialisation strategy.

BerGenBio is based in Bergen, Norway with a subsidiary in Oxford, UK. The company is listed on the Oslo Stock Exchange (ticker: BGBIO). For more information, visitwww.bergenbio.com

Contacts

ir@bergenbio.com

Richard Godfrey

CEO, BerGenBio ASA

Rune Skeie

CFO, BerGenBio ASA

Rune.skeie@bergenbio.com

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