Circio Holding ASA

Share Issue/Capital Change • Oct 19, 2025

Circio Holding ASA Bond conversion and additional trading restrictions

Circio Holding ASA Bond conversion and additional trading restrictions

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.

Following Circio s recent release of strong data at the ESGCT Annual Meeting

2025 (link to press release)

(https://www.circio.com/en/circio-presents-comprehensive-circvec-in-vivo-data-package-demonstrating-40-fold-improvement-over-conventional-aav-gene-delivery-at-esgct-2025/)

and subsequent positive impact on the trading in Circio shares, Atlas has

requested conversion of bonds with an aggregate nominal value of NOK

14,500,000. This represents all of the current outstanding convertible bonds

held by Atlas.

To demonstrate their confidence in the continued positive development of

Circio, going forward Atlas has committed to a conservative trading strategy,

including reducing the trading limitation in the Investment Agreement from the

current 35% down to 15% of the total trading volume and to not exceed 10% on

low volume days.

Pursuant to the terms of the agreement, the bonds are converted into

24,006,622 new shares in the Company at a conversion price of NOK 0.604.

Accordingly, the Company's share capital will be increased by NOK

14,403,973.20 through the issuance of 24,006,622 new shares upon registration

of the share capital increase in the Norwegian Register of Business

Enterprises (Nw.: Foretaksregisteret).

Following completion and registration of the bond conversion, the Company's

total share capital will amount to NOK 86,175,445.20, divided into 143,625,742

shares, each with a nominal value of NOK 0.60 (including the conversions

announced by the Company on 6, 15 and 17 October).

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.