Photocure ASA

Share Issue/Capital Change • Dec 3, 2021

Photocure ASA: Exercise of employee share options and share capital increase

Photocure ASA: Exercise of employee share options and share capital increase

Oslo, Norway, 3 December 2021: Participants in Photocure ASA's ("Photocure" or

the "Company") share option program have on 3 December 2021 exercised a total of

30 000 options distributed as follows:

· 1500 options exercised according to the option program for 2019 at a strike

price of NOK 50.72; and

· 28 500 options exercised according to the option program for 2019 at a

strike price of NOK 81.41.

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

are described in note 7 and 23 in Photocure's annual financial statements for

Following the exercise, the Board of Directors, pursuant to authorisation

granted by the Company's Annual General Meeting, has decided to increase the

Company's share capital by NOK 15 000 by issuing 30 000 new shares, of par value

NOK 0.50. Subsequent to the transaction, Photocure's share capital will be NOK

13 486 910 divided into 26 973 820 shares, each share having a par value of NOK

0.50 and carrying one vote in the Company's general meeting.

The following options are exercised by primary insider:

· 22 500 options are exercised by primary insider of the Company Susanne

Strauss, VP and General Manager of Europe

Primary insider notifications pursuant to the market abuse regulation article 19

is attached.

The primary insiders mentioned above has transferred their rights to receive

shares resulting from the exercise of options to a third party. Following a sale

of shares, the primary insiders will receive the net proceeds after deduction of

the strike price and accrued tax. The primary insiders will use the full net

proceeds to purchase shares in Photocure. The sales amount and the number of

shares purchased will be finally determined on the basis of the price

subsequently obtained by the third party in the market. The results of the sales

process will be announced in a separate stock exchange notice when known.

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 or www.cysview.com

All trademarks mentioned in this release are protected by law and are registered

trademarks of Photocure ASA.

This information is subject to the disclosure requirements pursuant to the

market abuse regulation article 19 and 5-12 of the Norwegian Securities Trading

Act.