Vistin Pharma — Capital/Financing Update 2018

May 9, 2018

Vistin Pharma ASA : Approval and publication of prospectus

Vistin Pharma ASA : Approval and publication of prospectus

This announcement is not for release, publication or distribution (directly or

indirectly) in or to the United States, Canada, Australia or Japan. It is not an

offer of securities for sale in or into the United States, Canada, Australia,

the Hong Kong Special Administrative Region of the People's Republic of China,

South Africa or Japan.

Reference is made to Vistin Pharma ASA's ("Vistin Pharma" or the "Company")

stock exchange notice dated 22 March 2018 relating to the completed NOK 300

million private placement (the "Private Placement") and the proposed NOK 50

million subsequent repair issue (the "Subsequent Repair Issue"). Further

reference is made to the Company's announcements on 8 May 2018 and 9 May 2018

regarding the approval by the annual general meeting of the Private Placement

and the Subsequent Repair Issue, and the increase of the share capital related

to the Private Placement.

The Financial Supervisory Authority of Norway has approved the prospectus dated

9 May 2018 (the "Prospectus") which has been prepared in connection with the

listing of up to 31,250,001 new shares on Oslo Axess, of which 26,785,715 shares

(the "Private Placement Shares") have been issued in connection with the Private

Placement and up to 4,464,286 new shares that will be offered and issued in

connection with the Subsequent Repair Issue.

The Private Placement Shares will be settled towards the investors that were

allocated shares in the Private Placement on or about 14 May 2018 through

delivery versus payment.

Shareholders in the Company as of 22 March 2018, as registered in the VPS on 26

March 2018, who were not allocated Offer Shares in the Private Placement and who

are not resident in a jurisdiction where such offering would be unlawful, or

would (in jurisdictions other than Norway) require any prospectus filing,

registration or similar action, will be eligible to participate in the

Subsequent Repair Issue and will be allocated subscription rights. The

subscription rights will not be listed and over-subscription and subscription

without subscription rights will be allowed in the Subsequent Repair Issue. The

subscription price in the Subsequent Repair Issue will be the same as in the

Private Placement, i.e. NOK 11.20 per share.

The subscription period for the Subsequent Repair Issue will commence on 09:00

CET on 14 May 2018 and expire on 25 May 2018 at 16:30 CET.

A stock exchange notice with further information on the Subsequent Repair Issue

will be published prior to commencement of the subscription period.

The Prospectus will, subject to regulatory restrictions in certain

jurisdictions, be available at the following website:

http://www.vistin.com/investors/prospectus-article214-455.html

Hard copies of the Prospectus may be obtained free of charge at the offices of

Vistin Pharma ASA at Østensjøveien 27, 0661 Oslo, Norway.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Gunnar Manum

CFO

+47 951 79 190

gunnar.manum@vistin.com

This announcement is not and does not form a part of any offer for sale of any

securities, and is not for release, publication or distribution, directly or

indirectly, in the United States, or any other jurisdiction in which such

distribution would be unlawful or would require registration or other measures.

Securities may not be sold in the United States absent registration with the

United States Securities and Exchange Commission or an exemption from

registration under the U.S. Securities Act of 1933, as amended. Vistin Pharma

ASA does not intend to register its securities in the United States. The

distribution of this announcement into jurisdictions other than Norway may be

restricted by law. Persons into whose possession this announcement comes should

inform themselves about and observe any such restrictions. Any failure to comply

with these restrictions may constitute a violation of the securities laws of any

such jurisdiction. This announcement has not been approved by any regulatory

authority.