Photocure ASA

Photocure ASA: Update on management shareholdings and exercise of employee share options

Update on management shareholdings and exercise of employee share options in

Photocure ASA ("the Company").

Oslo, Norway, 6 September 2016

1. Participants in the Photocure's share option program have on September

5th 2016 exercised a total number of 35,000 options at a strike price of NOK

27.39. Each option gives the right to receive one share in the Company. The

company has resolved a share capital increase as a consequence of employees

exercising vested options granted under the company's employee incentive scheme.

2. Options exercised by primary insiders 5th of September 2016:

Kjetil Hestdal, President and CEO, has exercised 25,000 options in the Company,

corresponding to 25,000 shares at the strike of NOK 27.39.

Erik Dahl, CFO, has exercised 1,000 options in the Company, corresponding to

1,000 shares at the strike of NOK 27.39.

3. New holding:

After exercising options, Kjetil Hestdal holds 123,500 unexercised options in

the Company, corresponding to 40,000 shares at the strike price of NOK

32.78, 21,000 shares at the strike price of NOK 38.50, 32,500 shares at the

strike price of NOK 40.15, and 30,000 shares at the strike price of NOK 48.75.

After completion of the abovementioned transactions, Kjetil Hestdal holds

128,873 shares in the Company.

After exercising options, Erik Dahl holds 93,500 unexercised options in the

Company, corresponding to 14,000 shares at the strike price of NOK

27.39, 24,000 shares at the strike price of NOK 32.78, 30,000 shares at the

strike price of NOK 38.50 and 25,500 shares at the strike price of NOK 40.15.

After completion of the abovementioned transactions, Erik Dahl holds 1,000

shares in the Company.

Photocure

CFO Erik Dahl

Tel: +47 450 55 000

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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