Vistin Pharma — Board/Management Information 2018

Mar 16, 2018

Vistin Pharma ASA : Torbjørn Kjus joins Vistin to develop new business area

Vistin Pharma ASA : Torbjørn Kjus joins Vistin to develop new business area

Oslo, Norway, 16 March 2018

Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) has entered into agreements with

Torbjørn Kjus and Kenneth Tveter for the development of a new business area

within energy trading activities.

"We are excited by joining forces with Torbjørn Kjus and Kenneth Tveter

following a thorough strategic evaluation, to leverage Vistin Pharma's platform

as a listed company to enhance new value creation opportunities for all

shareholders. Torbjørn is recognised as a leading energy analyst and we are

looking forward to work with him and Kenneth to develop a new growth platform

within energy trading," says Ole Enger, Chairman of the Board of Directors.

Following the sale of the opioids and tablet business in October 2017, the

company has become a pure play global metformin supplier with solid growth

prospects. However, the Board of Directors has recognised the lack of scale of

the current business structure as a listed company and initiated a strategic

evaluation of the industrial and value creation opportunities. Following this

evaluation, the company has entered into agreements with Torbjørn Kjus and

Kenneth Tveter for the possible development of a new business area within energy

trading.

"Vistin Pharma has a strong and leading position within the global metformin

market with attractive growth opportunities and we will continue to develop this

business as planned, uninterrupted by the potential addition of another business

area," says Enger.

Torbjørn Kjus has 16 years of experience in analysing the global crude and

refined products markets, 10 years as Chief Oil Analyst in DNB Markets and six

years as an oil analyst and trader in Norsk Hydro and BP trading in London. He

is the number 1 ranked analyst in Norway, independent of sector. He is also

ranked as the number 1 analyst in the oil and gas sector for the past four

years.

Kenneth Tveter has more than 10 years of experience from the oil market, working

with sales and trading in DNB Markets. He spent six years in New York as Head of

Commodities with the responsibility of building up DNBs Oil Market desk in New

York.

The Board of Directors will propose to amend the articles of association at the

company's annual general meeting (AGM), so that the purpose of the company shall

not be limited to pharma-related business, but potentially extending the

company's business to energy trading activities.

The engagements of Torbjørn Kjus and Kenneth Tveter are subject to approval by

the AGM of the changes to the articles of association. Subject to AGM approval,

the engagements will give Torbjørn Kjus and Kenneth Tveter 1,023,295 and

682,197 share options in the company respectively, at a strike price equal to

the closing price on 15 March 2018, NOK 11.20. Together they will also be

granted options over 10% of the number of shares issued in future cash private

placements in the company, limited to a total of 4,000,000 options in total

including the initial grants.

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For further information, please contact:

Ole Enger

Chairman

+47 91 13 82 23

About Vistin Pharma

Vistin Pharma is a Norwegian pharmaceutical company producing Active

Pharmaceutical Ingredients (APIs) for the global pharmaceutical industry. The

Group was established in 2015 when Vistin Pharma AS, a wholly owned subsidiary

of Vistin Pharma ASA, acquired the metformin and opioids business and tablet

production assets from Weifa AS. On 2 October 2017, Vistin Pharma sold its

opioids and manufacturing business to TPI Enterprises Limited. Following the

sale, Vistin Pharma is a pure play metformin producer, with a strong position in

the global metformin market and with significant growth ambitions. Metformin is

used as the first line treatment of diabetes 2, a disease which is expected to

grow by 50 per cent towards 2030, and affect more than 500 million people. The

global market for metformin is expected to grow by four to five per cent per

annum, and Vistin Pharma is attractively positioned to capture part of this

growth.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.