Ultimovacs ASA: Approval and publication of prospectus

28 Feb 2025 14:45 CET

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THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Oslo, 28 February, 2025: Reference is made to the stock exchange announcement by
Ultimovacs ASA ("Ultimovacs" or the "Company") on 17 December 2024 regarding the
agreement to combine its business with Zelluna Immunotherapy AS (the "Business
Combination") and the fully committed private placement (the "Private
Placement").

The Company has prepared a prospectus in connection with the listing on Euronext
Oslo Børs of (i) the 147,991,521 shares in the Company, each with a nominal
value of NOK 0.10, (the "Consideration Shares") to be issued in connection with
the Business Combination and (ii) the 19,873,071 shares in the Company, each
with a nominal value of NOK 0.10, (the "Private Placement Shares") to be issued
in the Private Placement.

The prospectus has today, 28 February 2025, been approved by the Financial
Supervisory Authority of Norway. The prospectus will be made available on
https://ultimovacs.com/investors/presentations-and-publications prior to the
first day of trading in the Consideration Shares and Private Placement Shares
subject to the conditions set out below.

Subject to completion of the Business Combination, the first day of trading in
the Consideration Shares and the Private Placement Shares is expected on or
about 4 March 2025. No assurance can currently be given that the listing will
take place in time or at all.

For further information, please see www.ultimovacs.com
(https://www.ultimovacs.com) or contact:

Hans Vassgård Eid, CFO and Interim CEO, Ultimovacs ASA
Email: hans.eid@ultimovacs.com
Phone: +47 482 48632

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