Photocure ASA

Share Issue/Capital Change • May 23, 2016

Photocure ASA: Resolved share capital increase in connection with exercise of options

Photocure ASA: Resolved share capital increase in connection with exercise of options

The board of directors of Photocure ASA has resolved a share capital increase as

a consequence of employees exercising vested options granted under the company's

employee incentive scheme.

Upon completion of the issuance of shares, the company's share capital will be

increased with a total of NOK 17,067, by issuing 34 134 new shares. The shares

are issued at an average subscription price of NOK 30.20. After completion, the

share capital of Photocure ASA will be NOK 10,755,214.50 divided on 21,510,429

shares, each with a nominal value on NOK 0.50. Each share representing one vote

at the company's general meeting.

The resolution to increase the share capital was made pursuant to an

authorisation granted by the annual general meeting in Photocure ASA on 28 April

2016, setting aside the pre-emptive rights of shareholders to attend to the

purpose of the share issue.

For further information, please contact:

Photocure

CFO Erik Dahl

Tel: +47 450 55 000

E-mail: ed@photocure.no

www.photocure.com

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#2014466]