Photocure ASA

Share Issue/Capital Change • Dec 1, 2020

Photocure ASA: Exercise of employee share options

Oslo, Norway, 1 December 2020: Reference is made to the stock exchange release by Photocure ASA ("Photocure" or the "Company") published on 30 November 2020 regarding exercise of share options.

The price for option shares sold by primary insiders have been determined at a price of NOK 79.0128 per share.

The primary insiders having exercised options have purchased shares in Photocure at a price per share of NOK 79.0128 as follows:

• Erik Dahl, CFO, has purchased 7,189 shares. Following completion of the purchase, Erik Dahl holds, directly or indirectly, 20,222 shares, 35,000 conditional share options and 40,000 share options in the Company.
• Grete Hogstad, VP Strategic Marketing, has purchased 5,032 shares. Following completion of the purchase, Grete Hogstad holds, directly or indirectly, 26,876 shares, 25,000 conditional share options and 25,000 share options in the Company.
• Gry Stensrud, VP Technical Development and Operation, has purchased 12,553 shares. Following completion of the purchase, Gry Stensrud holds, directly or indirectly, 22,442 shares, 25,000 conditional share options and 18,750 share options in the Company.

For further information, please contact:

Photocure CFO Erik Dahl Tel: +47 450 55 000 Email: ed@photocure.com

About Photocure ASA

Photocure: The Bladder Cancer Company delivers transformative solutions to improve the lives of bladder cancer patients. Our unique technology, making cancer cells glow bright pink, has led to better health outcomes for patients worldwide. Photocure is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange (OSE: PHO). For more information, please visit us at www.photocure.com, www.hexvix.com, www.cysview.com

This information is subject to the disclosure requirements pursuant to sections 5-12 and 4-2 of the Norwegian Securities Trading Act.