PCI Biotech Holding — Director's Dealing 2021

Sep 6, 2021

PCI Biotech: Employee share option scheme

PCI Biotech: Employee share option scheme

Oslo, 6 September 2021

In accordance with the authorisation granted and the remuneration policy adopted

by the Annual General Meeting 28 May 2021, the Board of Directors of PCI Biotech

Holding ASA ("PCI Biotech") has awarded a total of 485,000 share options to key

employees. Each share option gives the right to subscribe for or acquire one

share per option (after PCI Biotech's choice), at a strike price of NOK 19.41,

equal to the volume weighted average share price (VWAP) for the last 5 days of

trade prior to the grant date. The share options are granted without

consideration and are subject to service based vesting conditions, with a three

year vesting term and one third vested each year. The share options are lapsing

in Q3 2026. Further details about the share option program are described in PCI

Biotech's remuneration policy, available on https://www.pcibiotech.no/s/PCI-

Biotech-Remuneration-Policy-6-May-2021.pdf.

To ensure long term ownership by executive management, shares obtained by

exercise of share options shall be held for at least one year, except shares to

be sold immediately to cover transaction costs and tax under a so-called cash

less exercise. Through the long-term incentive program the board expects members

of the executive team to build up and maintain share ownership with a market

value equal to at least one-year gross base salary, before any shares may be

sold.

Of the 485,000 share options, 340,000 share options were allotted to the

following primary insiders:

70,000 share options were allotted to Per Walday, CEO. After the allotment, Per

Walday holds a total portfolio of 295,000 unexercised share options and 72,700

shares.

60,000 share options were allotted to Amir Snapir, CMO. After the allotment,

Amir Snapir holds a total portfolio of 150,000 unexercised share options and 0

shares.

50,000 share options were allotted to Ronny Skuggedal, CFO. After the allotment,

Ronny Skuggedal holds a total portfolio of 190,000 unexercised share options and

55,000 shares.

40,000 share options were allotted to Anders Høgset, CSO. After the allotment,

Anders Høgset holds a total portfolio of 190,000 unexercised share options and

64,800 shares.

40,000 share options were allotted to Ludovic Robin, CBO. After the allotment,

Ludovic Robin holds a total portfolio of 130,000 unexercised share options and

0 shares.

40,000 share options were allotted to Lucy Wabakken, CDO (acting). After the

allotment, Lucy Wabakken holds a total portfolio of 160,000 unexercised share

options and 0 shares. Her related parties holds 10,008 shares.

40,000 share options were allotted to Kristin Eivindvik, CDO. After the

allotment, Kristin Eivindvik holds a total portfolio of 110,000 unexercised

share options and 25,200 shares.

Primary insider notifications pursuant to the market abuse regulation article

19 are attached.

The current authorisation, as of 28 May 2021, allows for a total of 2,790,000

share options, of which 1,615,000 now have been granted by the Board of

Directors.

For more information, please contact:

Per Walday, CEO, pw@pcibiotech.no, Mobile: +47 917 93 429

This information is subject to the disclosure requirements pursuant to the

market abuse regulation article 19 and to section 5-12 of the Norwegian

Securities Trading Act.