Mandatory notification regarding exercise and trade of subscription rights

Oslo, September 20, 2018 - Overview of mandatory notification regarding exercise and trade of subscription rights. Management and the board of directors of PCI Biotech Holding ASA ("PCI Biotech" or "the Company") are all supportive to the share issue resolved by the extraordinary general meeting 14 September 2018. In total the transactions disclosed herein leads to a net increase in shareholding by primary insiders of PCI Biotech of 53,348 shares.

The following transactions are made at 20 September 2018: Per Walday, CEO, has subscribed for 3,167 new shares in the Company at a subscription price of NOK 30 per share by exercising 3,167 subscription rights in the Company's ongoing rights issue and has simultaneously sold his remaining 28,096 subscription rights at an average price of NOK 4.71 per subscription right. The sale of the subscription rights are made to finance all of the subscription rights exercised. After the transactions, Per Walday will have a total shareholding in the Company of 68,300 shares and 104,000 unexercised stock options in relation to the Company's share option scheme.

Ronny Skuggedal, CFO, has subscribed for 3,234 new shares in the Company at a subscription price of NOK 30 per share by exercising 3,234 subscription rights in the Company's ongoing rights issue and has simultaneously sold his remaining 8,797 subscription rights at an average price of NOK 4.71 per subscription right. The sale of the subscription rights are made to finance parts of the subscription rights exercised. After the transaction, Ronny Skuggedal will have a total shareholding in the Company of 28,300 shares and 116,000 unexercised stock options in relation to the Company's share option scheme.

Kristin Eivindvik, PD, has subscribed for 852 new shares in the Company at a subscription price of NOK 30 per share by exercising 852 subscription rights in the Company's ongoing rights issue and has simultaneously sold her remaining 7,763 subscription rights at an average price of NOK 4.71 per subscription right. The sale of the subscription rights are made to finance all of the subscription rights exercised. After the transactions, Kristin Eivindvik will have a total shareholding in the Company of 18,800 shares and 33,500 unexercised stock options in relation to the Company's share option scheme.

Anders Høgset, CSO, has subscribed for 844 new shares in the Company at a subscription price of NOK 30 per share by exercising 844 subscription rights in the Company's ongoing rights issue and has simultaneously sold his remaining 29,134 subscription rights at an average price of NOK 4.71 per subscription right. After the transactions, Anders Høgset will have a total shareholding in the Company of 63,300 shares and 66,000 unexercised stock options in relation to the Company's share option scheme.

Gaël L'Hévéder, CBDO, has sold all his 4,800 subscription rights at an average price of NOK 4.71 per subscription right. After the transaction, Gaël L'Hévéder have a total shareholding in the Company of 10,000 shares and 106,000 unexercised stock options in relation to the Company's share option scheme.

In addition, the following transactions were made by the chairman and two members of PCI Biotech’s board of directors at 19 September 2018 and disclosed the same day.

The Chairman Hans Peter Bøhn subscribed for 40,106 new shares in PCI Biotech Holding ASA (the "Company") at 19 September 2018 (the transaction was also disclosed 19 September 2018) at a subscription price of NOK 30 per share by exercising all his 40,106 subscription rights allocated in the Company's ongoing rights issue. After the transaction, Hans Peter Bøhn will have a total shareholding in the Company of 123,662 shares.

The board member Lars Viksmoen subscribed for 1,920 new shares in PCI Biotech Holding ASA (the "Company") at 19 September 2018 (the transaction was also disclosed 19 September 2018) at a subscription price of NOK 30 per share by exercising all his 1,920 subscription rights allocated in the Company's ongoing rights issue through his wholly owned company, Stocken Invest AS. In addition, Stocken Invest AS bought 1,580 subscription rights at an average price of NOK 4.40 per subscription right and subsequently exercised the 1,580 acquired subscription rights. After the transactions, Stocken Invest AS will have a total shareholding in the Company of 7,500 shares. Stocken Invest AS has previously entered into a guarantee agreement of NOK 1,000,000 in relation to the rights issue, and the exercise of subscription rights will, in compliance with the guarantee agreement, reduce the guarantee liability correspondingly.

The board member Christina Herder subscribed for 1,645 new shares in PCI Biotech Holding ASA (the "Company") at 19 September 2018 (the transaction was disclosed the same day) at a subscription price of NOK 30 per share by exercising 1,645 of her allocated subscription rights in the Company's ongoing rights issue. In addition, she sold her remaining 2,365 subscription rights at an average price of NOK 4.40 per subscription right. After the transactions, Christina Herder will have a total shareholding in the Company of 10,000 shares.

Reference is made to the Prospectus dated 17 September 2018 for further information about the terms of the rights issue.

Contact information:
PCI Biotech Holding ASA, Ullernchausséen 64, NO-0379 Oslo.  
Ronny Skuggedal, CFO, rs@pcibiotech.no, Mobile: +47 9400 5757.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.