Circio Holding ASA: Requested Conversion of Convertible Bonds

17 Jun 2025 13:48 CEST

Reference is made to Circio Holding ASA's (the "Company") outstanding
convertible bonds as issued to Atlas Special Opportunities, LLC ("Atlas") under
the Investment Agreement entered into between Atlas and the Company in March
2023.

Atlas has, by a notice of conversion, requested conversion of convertible bonds
with a nominal value of NOK 2,000,000. Pursuant to the bond terms, the
conversion price is NOK 0.5935. As the conversion price cannot be set lower than
the nominal value of the share, the conversion price for the conversion is set
to NOK 0.6 and the NOK 2,000,000 convertible bonds are convertible into
3,333,333 new shares in the Company.

The Company's share capital will accordingly be increased by NOK 1,999,999.80 by
the issuance of 3,333,333 new shares in the Company at a conversion price of NOK
0.6, upon completion of the conversion by registration of the share capital
increase in the Norwegian Register of Business Enterprises (Nw.:
Foretaksregisteret). Following the conversion, the Company's total share capital
will be NOK 61,345,650.00 divided into 102,242,750 shares, each with a nominal
value of NOK 0.60.

The difference between NOK 0.6 and NOK 0.5935 a value of approximately NOK
22,000, will be settled separately with Atlas according to the Investment
Agreement and applicable laws and regulations.

For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@circio.com

Lubor Gaal, CFO
Phone: +34 683343811
Email: lubor.gaal@circio.com

About Circio

Building next generation RNA technology for nucleic acid medicine

Circio Holding ASA is a biotechnology company developing powerful circular RNA
vector expression technology for next generation nucleic acid medicine.

Circio has established a unique circular RNA (circRNA) vector expression
platform for novel DNA, RNA and viral therapeutics. The proprietary circVec
technology is based on a modular genetic cassette design for efficient
biogenesis of multifunctional circRNA inside cells, which can be deployed in
multiple therapeutic settings, including genetic medicine, cell therapy and
chronic disease. The circVec platform has demonstrated up to 15-fold enhanced
and more significantly more durable protein expression vs. classic mRNA vector
systems and has the potential to become a new gold-standard platform technology
for nucleic acid and viral therapeutics in the future. The circRNA R&D
activities are being conducted by the wholly owned subsidiary Circio AB based at
the Karolinska Institute in Stockholm, Sweden.

In addition, Circio is developing a pan-RAS cancer vaccine, TG01, targeting KRAS
driver mutations. TG01 is currently being tested in two clinical trials: RAS
-mutated pancreatic and lung cancer in the USA and multiple myeloma in Norway.
These studies are being run through academic and industry collaborative
networks, supported by prestigious research grants from Innovation Norway and
the Norwegian Research Council, creating read-outs and future optionality for
the program at low cost to Circio.

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