ExpreS2ion Biotech

Summarised terms for the warrants of series TO 8

• Exercise period: 7 September 2023 – 21 September 2023.

• Issue size: 11,642,971 warrants of series TO 8, which entitles to subscription of 11,642,971 shares. If all the warrants are exercised, the Company will receive approximately SEK 18.3 million before issuing costs.

• Exercise price: SEK 1.57 per share.

• Last day for trading warrants of series TO 8: 18 September 2023.

• Dilution etc: If all warrants are exercised the share capital will increase with SEK 1,293,663.446792 from SEK 5,472,196.343262 to SEK 6,765,859.790054. If all warrants of series TO 8 are exercised the number of shares will increase with 11,642,971 shares, from 49,249,767 shares to 60,892,738 shares. The dilution at the exercise of all warrants of series TO 8 amounts to approximately 19 percent of the number of shares and number of votes.

Note that the warrants that are not exercised on 21 September 2023 at the latest, or sold on 18 September 2023 at the latest, will expire without value. For the warrants not to lose their value, the holder must actively subscribe for new shares or sell the warrants.

How warrants are exercised

• Nominee-registered warrants (Custody account) - Subscription and payment by the exercise of warrants shall be made in accordance with instructions from each nominee. Please contact your nominee for additional information.

• Direct-registered warrants (Securities account) - No issue report nor any instructions regarding payments will be sent out. Subscriptions will be made through simultaneous payment in accordance with the instructions on the application form.

The warrants will then be replaced by interim shares awaiting registration at the Swedish Companies Registration Office.

Additional information can be found in the TO 8 Subscription Brochure, which can be found in the Rights Issue 2023 section of the ExpreS²ion investor website, under IPO and Rights Issues.

The application form including instructions for payment will be available at ExpreS²ion's investor relations website, investor.expreS2ionbio.com and Vator Securities website (www.vatorsecurities.se).

Advisors
Vator Securities act as financial advisor and issuing agent to the Company in connection with the transaction. Advokatfirman Schjødt is the Company’s legal advisor in connection with the transaction.

Certified Adviser
Svensk Kapitalmarknadsgranskning AB