Thor Medical sign strategic supply agreement for feedstock of thorium

13 May 2025 16:45 CEST

13.5.2025 16:45:01 CEST | Thor Medical ASA | Inside information

Oslo13 May 2025: Thor Medical ASA, a leading emerging supplier of alpha-emitters
for next-generation precision cancer treatment, has signed an agreement securing
supply of thorium feedstock from a major European multinational chemical
manufacturing company.

The three-year supply agreement strengthens the already strong partnership
between the two companies and secures feedstock supplies for Thor Medical's
production of radioisotopes at its current pilot plant and its commercial scale
plant under construction, AlphaOne.

"Thor Medical is on a strong trajectory to become a global leader in
alpha-emitting isotopes for next-generation cancer care. This rapidly emerging
field within radiopharmaceuticals holds the promise to transform treatment for
millions of cancer patients worldwide. Together with our customers and
suppliers, we are establishing a sustainable and resilient value chain that is
essential to unlocking this potential and capturing a significant share of a
highly attractive global market, "says Jasper Kurth, CEO of Thor Medical.

Thor Medical has already signed sales agreements with several
radiopharmaceutical companies with late-stage cancer therapeutic candidates
based on alpha-emitting lead-212 isotopes.

The supply agreement with the undisclosed partner is part of Thor Medical's
strategy of developing multiple feedstock suppliers as part of its value chain.
Thor Medical last year announced an MoU with Steenkampskraal Holdings Ltd in
South-Africa for future supplies of feedstock from the Steenkampskraal Monizite
Mine in the Western Cape which has among the highest concentrations of rare
earth elements and thorium globally.

CONTACT

Brede Ellingsæter, CFOO Thor Medical, +47 472 38 440,
brede.ellingseter@thormedical.com

ABOUT THOR MEDICAL ASA

Thor Medical is an emerging supplier of alpha particle emitters produced from
naturally occurring thorium. Its proprietary production process requires no
irradiation or use of nuclear reactors, and provides reliable, environmentally
friendly, cost-efficient supply of alpha-emitters for the radiopharmaceutical
industry. Thor Medical is headquartered in Oslo, Norway and listed on the Oslo
Stock Exchange under the ticker symbol 'TRMED'.



IMPORTANT INFORMATION

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock
exchange announcement was published by Brede Ellingsæter, CFOO, Thor Medical
ASA, at the time and date stated above in this announcement.

This release contains forward -looking information and statements relating to
the business, performance, and matters that may impact the results of Thor
Medical. Forward-looking statements are statements that are not historical facts
and may be identified by words such as "aims," "anticipates," "believes,"
"estimates," "expects," "foresees," "intends," "plans," "predicts," "projects,"
"targets," "potential," and similar expressions. Such forward-looking statements
are based on current expectations, estimates, and projections, reflect current
views concerning future events, and are subject to risks, uncertainties, and
assumptions, and may be subject to change without notice. Forward-looking
statements are not guarantees of any future performance, and risks,
uncertainties, and other important factors could cause the actual business,
performance, results, or the industry and markets in which Thor Medical operates
to differ materially from the statements expressed or implied in this release by
such forward-looking statements. No representation is made that any of these
forward-looking statements or forecasts will come to pass or that any forecasted
performance, capacities, or results will be achieved, and you are cautioned not
to place any undue reliance on any forward-looking statements.

This release is for information purposes only and is not to be relied upon in
substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company.

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