Oncopeptides

Share Issue/Capital Change • Oct 31, 2019

Stockholm, Sweden

Press release 31 October 2019

Number of shares and votes in Oncopeptides

Stockholm - 31 October 2019 - Oncopeptides AB (Nasdaq Stockholm, ONCO) today announces that the number of shares and votes in Oncopeptides has changed as a result of exercise of warrants under the company's incentive programs.

Through the exercise of warrants under the company's incentive programs, the number of outstanding shares and votes has increased by 201,409 from 55,212,008 to 55,413,417. The share capital has increased by approximately SEK 22,379 from SEK 6,134,668 to SEK 6,157,047.

For further information, please contact: Jakob Lindberg, CEO of Oncopeptides E-mail: jakob.lindberg@oncopeptides.com Telephone: +46 8 615 20 40

Rein Piir, Head of Investor Relations at Oncopeptides E-mail: rein.piir@oncopeptides.com Cell phone: +46 70 853 72 92

This is information that Oncopeptides AB (publ) is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out above, at 14:00 CET on 31 October 2019.

About Oncopeptides

Oncopeptides is a pharmaceutical company focused on the development of targeted therapies for difficult-totreat hematological cancers. The company is focusing on the development of the lead product candidate melflufen, a novel lipophilic peptide conjugated alkylator, belonging to a new class of drugs called Peptidase Enhanced Cytotoxics (PEnC). Melflufen is in development as a new treatment for the hematological cancer multiple myeloma, including the Phase 2 pivotal trial HORIZON currently underway and a global confirmatory Phase 3 trial (OCEAN) continuing enrollment. Oncopeptides' headquarters is located in Stockholm, Sweden, and the company is listed in the Mid Cap segment on Nasdaq Stockholm with the ticker ONCO.

For more information, please visit www.oncopeptides.com