Karo Pharma AB — Board/Management Information 2018

Dec 2, 2018

ANDERS LÖNNER, CHAIRMAN OF THE BOARD KARO PHARMA AB, HAS SUDDENLY PASSED AWAY

STOCKHOLM December 2, 2018

"It is with great regret and sadness we announce this very tragic and unexpected information", says the Board of Directors, Karo Pharma. "Anders Lönner has suddenly and unexpected passed away. Our thoughts go to his family and those closest to him".

Anders Lönner joined Karo Pharma as Executive Chairman of the Board in 2014. Since then the company has experienced strong and profitable growth.

With his longstanding and deep knowledge Anders has influenced the pharmaceutical industry in Sweden in an extraordinary way. This is evident from all the special acknowledgements that Anders has received throughout the years. He started his career at Astra Pharmaceuticals, Managing Director at Astra Läkemedel where after he was the CEO of Meda for many years.

With Anders leadership and through the business model that he implemented Meda developed exceptionally. The company went from being a small agency company to an international pharmaceutical company.

Anders has in his role as Executive Chairman of the Board driven a successful transformation of Karo Pharma AB from an unprofitable research company to a profitable specialty pharma company. Anders integrity, empathy and creative mindset has made him a very successful businessman and entrepreneur within the pharmaceutical industry.

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Anders was elected Honorary Doctor of Medicine at Karolinska Institutet. The motivation was; "Anders Lönner has during many years shown strong commitment for Karolinska Institutet, particularly within the area of clinical development"

The Board Member, Håkan Åström, will now assume the role as Acting Chairman of the Board.

The information in this report is such that Karo Pharma is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted, through the below contact person, for publication on December 2, 2018 at 17:00 CET. This press release is also available at www.karopharma.se and www.newsroom.cision.com.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT: Håkan Åström, Acting Chairman of the Board, 070-374 72 13 or hakanastrom@aol.com Peter Blom, CEO, 070-655 56 98 or peter.blom@karopharma.se

ABOUT KARO PHARMA

Karo Pharma is a specialty pharma company that develops and markets products to pharmacies and directly to healthcare providers. The share is listed on Nasdaq Stockholm in the Mid Cap segment.