Oncopeptides

Capital/Financing Update • May 30, 2024

Oncopeptides issues warrants to fulfil its obligations under loan agreement with EIB

Oncopeptides AB (publ) ("Oncopeptides") (Nasdaq Stockholm: ONCO), a biotech company focused on difficult-to-treat cancers, today announces that the company has resolved on an issue of warrants in order to fulfil Oncopeptides obligations under the existing loan agreement with the European Investment Bank (the "EIB").

Oncopeptides has a contractual obligation to deliver warrants to the EIB upon disbursement of a loan under the renewed loan facility agreement that was entered into with the EIB on 25 November 2022 (the "Loan Agreement"). The Loan Agreement is divided into three EUR 10 million tranches, each with a maturity of five years. Oncopeptides has utilised the first tranche of the Loan Agreement and delivered 1,273,154 warrants to the EIB. According to the terms of the Loan Agreement, the EIB shall be entitled to a percentage of Oncopeptides before and after the rights issue which was completed on 3 May 2024. Existing warrants are recalculated according to the terms of the warrants and Oncopeptides has now issued additional 2,732,785 warrants to itself and transferred 1,229,753 of these warrants to the EIB. The remaining warrants will be held by Oncopeptides and may be transferred to the EIB in connection with any disbursement of remaining tranches under the Loan Agreement.

The board of directors of Oncopeptides has issued the warrants based on the authorization granted by the annual general meeting on 25 May 2023. The reason for the deviation from the shareholders' preferential rights is to enable delivery of warrants to the EIB in accordance with the terms of the Loan Agreement. The warrants have a term of approximately 19 years and entitle the holder to subscribe for new ordinary shares in the company at a subscription price corresponding to the share's quota value. Upon full subscription of all issued 9,086,985 warrants, the company's registered share capital will increase by approximately SEK 1,009,665.05and the number of shares by 9,086,985 ordinary shares.

For more information, please contact:

David Augustsson, Director of IR and Communications, Oncopeptides AB (publ) E-mail: david.augustsson@oncopeptides.com Cell phone: +46 76 229 38 68

About Oncopeptides

Oncopeptides is a biotech company focusing on research, development and commercialization of targeted therapies for difficult-to-treat cancers. The company uses its proprietary Peptide Drug Candidate platform (PDC) to develop compounds that rapidly and selectively deliver cytotoxic agents into cancer cells.

Pepaxti® (melphalan flufenamide, also called melflufen) has been granted Marketing Authorization, in the European Union, the EEA-countries Iceland, Lichtenstein and Norway, as well as in the UK. Pepaxti is indicated in combination with dexamethasone for the treatment of adult patients with multiple myeloma who have received at least three prior lines of therapies, whose disease is refractory to at least one proteasome inhibitor, one immunomodulatory agent, and one anti-CD38 monoclonal antibody, and who have demonstrated disease progression on or after the last therapy. For patients with a prior autologous stem cell transplantation, the time to progression should be at least 3 years from transplantation.

Oncopeptides is developing several new compounds based on its proprietary technology platforms and is listed on Nasdaq Stockholm with the ticker ONCO. For more information see: www.oncopeptides.com

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Oncopeptides issues warrants to fulfil its obligations under loan agreement with EIB