Circio Holding ASA

Capital/Financing Update • May 5, 2025

Circio Holding ASA: Requested Conversion of Convertible Bonds

Circio Holding ASA: Requested Conversion of Convertible Bonds

Reference is made to Circio Holding ASA's (the "Company") outstanding

convertible bonds as issued to Atlas Special Opportunities, LLC ("Atlas") under

the Investment Agreement entered into between Atlas and the Company in March

Atlas has, by a notice of conversion, requested conversion of convertible bonds

with a nominal value of NOK 2,000,000. Pursuant to the bond terms, the

conversion price is NOK 0.5677. As the conversion price cannot be set lower than

the nominal value of the share, the conversion price for the conversion is set

to NOK 0.6 and the NOK 2,000,000 convertible bonds are convertible into

3,333,333 new shares in the Company.

The Company's share capital will accordingly be increased by NOK 1,999,999.80 by

the issuance of 3,333,333 new shares in the Company at a conversion price of NOK

0.6, upon completion of the conversion by registration of the share capital

increase in the Norwegian Register of Business Enterprises (Nw.:

Foretaksregisteret). Following the conversion, the Company's total share capital

will be NOK 54,486,542.4 divided into 90,810,904 shares, each with a nominal

value of NOK 0.60.

The difference between NOK 0.6 and NOK 0.5677 a value of approximately NOK

107,000, will be settled separately with Atlas.

For further information, please contact:

Erik Digman Wiklund, CEO

Phone: +47 413 33 536

Email: erik.wiklund@circio.com

Lubor Gaal, CFO

Phone: +34 683343811

Email: lubor.gaal@circio.com

About Circio

Building next generation RNA technology for nucleic acid medicine

Circio Holding ASA is a biotechnology company developing powerful circular RNA

vector expression technology for next generation nucleic acid medicine.

Circio has established a unique circular RNA (circRNA) vector expression

platform for novel DNA, RNA and viral therapeutics. The proprietary circVec

technology is based on a modular genetic cassette design for efficient

biogenesis of multifunctional circRNA inside cells, which can be deployed in

multiple therapeutic settings, including genetic medicine, cell therapy and

chronic disease. The circVec platform has demonstrated up to 15-fold enhanced

and more significantly more durable protein expression vs. classic mRNA vector

systems and has the potential to become a new gold-standard platform technology

for nucleic acid and viral therapeutics in the future. The circRNA R&D

activities are being conducted by the wholly owned subsidiary Circio AB based at

the Karolinska Institute in Stockholm, Sweden.

In addition, Circio is developing a pan-RAS cancer vaccine, TG01, targeting KRAS

driver mutations. TG01 is currently being tested in two clinical trials: RAS

-mutated pancreatic and lung cancer in the USA and multiple myeloma in Norway.

These studies are being run through academic and industry collaborative

networks, supported by prestigious research grants from Innovation Norway and

the Norwegian Research Council, creating read-outs and future optionality for

the program at low cost to Circio.