Reference is made to the resolution by made by the ordinary general meeting of Nekkar ASA (the "Company") on 27 May 2021 where the board was authorised to increase the Company's share capital in connection with share purchase programs for employees and board members in the Nekkar group.

In that connection, the board of directors has today resolved to issue 87 023 new shares, each with a par value of NOK 0.11, at a subscription price of NOK 6.75 per share, corresponding to the volume-weighted five days average trading price of the share in the period between 18 and 24 February 2022, less a discount of 25%, subject to certain customary conditions, including a two year lock-up on some or all of the shares and subject to the employee continuing to serve the group during the lock-up period.

Upon registration of the share capital increase with the Norwegian Register of Business Enterprises, the Company's share capital will be NOK 11 745 836.74, consisting of 106 780 334 shares, each with a par value of NOK 0.11.

Certain primary insiders in the Company have collectively subscribed for and will be allocated 78 136 shares in the private placement. More information about subscriptions and allocations to such parties will be announced separately.