Zelluna ASA — Remuneration Information 2021

Mar 25, 2021

To the shareholders of Ultimovacs ASA

Recommendations by the Nomination Committee to the Annual General Meeting on April 15, 2021:

The Nomination Committee has interviewed all Members of the Board, the CEO and the largest shareholders regarding function, roles and composition of the Board, and made an evaluation of the Board's performance and its combined experience and professional profile. The proposal below has been unanimously resolved by the Nomination Committee.

Election of Members of the Board of Directors:

All Members of the Board are up for election at the General Assembly. Two new Members were elected in an extraordinary general assembly in November 2020 and one Member left the Board at that time. Based on the fact that the Board has a well-suited professional profile and is working well as a team, the Nomination Committee proposes to re-elect all board members for a period of one year. Each member has accepted nomination for re-election. The nominated Members to the Board:

Jonas Einarsson, Chairman Kari Grønås Eva Dugstad Aitana Peire Leiv Askvig Ketil Fjerdingen Henrik Schüssler Haakon Stenrød Håkan Englund, deputy member

Remuneration of the Board of Directors:

For the period to the General Assembly 2022, the Nomination Committee proposes that the Chairman of the Board shall receive NOK 400,000 and the Members of the Board shall receive NOK 200,000. These rates are unchanged from the period up to the General Assembly 2021.

Remuneration of members of Board Committees:

The Nomination Committee proposes that members of Board Committees like the Audit Committee and the Compensation Committee shall receive NOK 20,000 and the leader of the Committee shall receive NOK 35,000.

Nomination and remuneration of the Nomination Committee:

All members of the Nomination Committee were in 2019 elected for two years, but each member can be substituted by the Annual General Assembly. The Nomination Committee members are Ole Kristian Hjelstuen (Chairman), Hans Peter Bøhn and Jakob Iqbal. The Nomination Committee proposes that the committee is re-elected for a period of two years and that the remuneration for the period from the General Assembly 2021 to the General Assembly 2022 is NOK 35,000 for the Chairman and NOK 20,000 the members.

Oslo, 25 February 2021

On behalf of the Nomination Committee

Ole Kristian Hjelstuen

Fall

ctronically signed by. kob Iqbal
te: Feb 25,

lly signed by: leotronically
Date: Feb 28, 2021 18:30
Date: Feb 28, 2021 18:30
GMT+1

Hans Peter Bøhn

Jakob Iqbal