Photocure ASA

Share Issue/Capital Change • Aug 30, 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, 30 August 2021: Participants in Photocure ASA's ("Photocure" or

the "Company") share option program have on 30 August 2021 exercised a total of

25,500 options distributed as follows:

· 3,000 options exercised according to the option program for 2019 at a strike

price of NOK 50.72; and

· 22,500 options exercised according to the option program for 2019 at a

strike price of NOK 56.83.

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 12,750 by issuing 25,500 new shares, of par value

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

13,471,910 divided into 26,943,820 shares, each share having a par value of NOK

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

22,500 options are exercised by primary insider of the Company Geoffrey Coy, VP

& General Manager US Operations:

Primary insider notification pursuant to the market abuse regulation article 19

is attached.

The primary insider mentioned above has transferred his rights to receive shares

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

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

strike price and accrued tax. The primary insider 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.