Photocure ASA - Share option grant

Oslo, Norway, 22 September 2025 - Photocure ASA (the "Company") (OSE: PHO) has granted share options to employees.

A total of 348,000 share options, equal to approx. 1.28% of total shares issued in the Company, were granted to employees at an exercise price at NOK 67.39. The exercise price is equal to the weighted average share price 30 trading days before the day of grant with an additional premium of 10% on top of the calculated average price.

The options are granted in accordance with Photocure's long term incentive program and the Company's guidelines for remuneration of senior executives, as approved by Photocure's annual general meeting held on 5 May 2025. The share option program and properties of the options are further described in the guidelines.

Of the total grant the following was granted to primary insiders:

·           Dan Schneider, President and Chief Executive Officer, 60,000 options.

·           Erik Dahl, Chief Financial Officer, 35,000 options.

·           Geoffrey Coy, Vice President and General Manager North America, 35,000 options.

·           Anja Gossens-von der Heidt, Head of Global Human Resources, 11,250 options.

In connection with the grant, Photocure cancels 30,000 outstanding options that expire in the near term. The cancelled options are replaced with options that are subject to a reset three-year vesting period, fully resetting the vesting period.

Primary insider notifications pursuant to the market abuse regulation article 19 are attached.

For further information, please contact:

Erik Dahl
Chief Financial Officer
Tel: +47 450 55 000
Email: ed@photocure.com

About Photocure ASA

Photocure: The Bladder Cancer Company delivers transformative solutions to improve the lives of bladder cancer patients. Our unique technology, making cancer cells glow bright pink, has led to better health outcomes for patients worldwide. Photocure is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (OSE: PHO). For more information, please visit us at www.photocure.com or www.cysview.com

All trademarks mentioned in this release are protected by law and are registered trademarks of Photocure ASA.

This information is subject to the disclosure requirements pursuant to the market abuse regulation article 19 and 5-12 of the Norwegian Securities Trading Act.