Circio Holding ASA

Share Issue/Capital Change • Oct 17, 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 issued to Atlas Special Opportunities, LLC and Atlas Capital

Markets, LLC ("Atlas") under the Investment Agreement entered into between

Atlas and the Company in March 2023.

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

bonds with a nominal value of NOK 1,000,000, which pursuant to the bond terms

are convertible into 1,655,811 new shares in the Company at a conversion price

of NOK 0.60393.

The Company's share capital will accordingly be increased by NOK 993,486.60

through the issuance of 1,655,811 new shares upon completion of the conversion

by registration of the share capital increase in the Norwegian Register of

Business Enterprises (Nw.: Foretaksregisteret).

Upon completion and registration of today's announced conversion and the

conversions announced by the Company on 6 and 15 October, the Company's total

share capital will amount to NOK 71,771,472.00, divided into 119,619,120

shares, each with a nominal value of NOK 0.60.

For further information, please contact:

Erik Digman Wiklund, CEO

Phone: +47 413 33 536

Email: erik.wiklund@circio.com

Lubor Gaal, CFO

Phone: +34 683 34 3811

Email: lubor.gaal@circio.com

About Circio

Building circular RNA expression systems for enhanced gene and cell therapies

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

technology for next generation RNA, DNA and viral therapeutics. The

proprietary circVec platform is based on a modular genetic construct designed

for efficient biogenesis of multifunctional circRNA inside target cells. The

circVec platform has applications in multiple therapeutic settings, including

genetic medicine, cell therapy and chronic disease. It has demonstrated

75-fold increased RNA half-life and up to 40-fold enhanced protein expression

vs. conventional mRNA-based viral and non-viral vector systems, with the

potential to become a new gold-standard gene expression technology. The

circVec R&D activities are being conducted by the wholly owned subsidiary

Circio AB in Stockholm, Sweden.

In parallel, Circio is continuing to develop its legacy immuno-oncology

program, TG01, through cost-efficient external academic and industry

collaborations. TG01 targets RAS-mutated cancers and is being tested in two

clinical trials in Norway and the USA. TG01 is a therapeutic peptide vaccine

adjuvanted by STIMULON QS-21 licensed from Agenus Inc.