Circio Holding ASA Bond conversion and additional trading restrictions

19 Oct 2025 21:45 CEST

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

Following Circio s recent release of strong data at the ESGCT Annual Meeting
2025 (link to press release)
(https://www.circio.com/en/circio-presents-comprehensive-circvec-in-vivo-data-pa
ckage-demonstrating-40-fold-improvement-over-conventional-aav-gene-delivery-at-e
sgct-2025/)
and subsequent positive impact on the trading in Circio shares, Atlas has
requested conversion of bonds with an aggregate nominal value of NOK
14,500,000. This represents all of the current outstanding convertible bonds
held by Atlas.

To demonstrate their confidence in the continued positive development of
Circio, going forward Atlas has committed to a conservative trading strategy,
including reducing the trading limitation in the Investment Agreement from the
current 35% down to 15% of the total trading volume and to not exceed 10% on
low volume days.

Pursuant to the terms of the agreement, the bonds are converted into
24,006,622 new shares in the Company at a conversion price of NOK 0.604.
Accordingly, the Company's share capital will be increased by NOK
14,403,973.20 through the issuance of 24,006,622 new shares upon registration
of the share capital increase in the Norwegian Register of Business
Enterprises (Nw.: Foretaksregisteret).

Following completion and registration of the bond conversion, the Company's
total share capital will amount to NOK 86,175,445.20, divided into 143,625,742
shares, each with a nominal value of NOK 0.60 (including the conversions
announced by the Company on 6, 15 and 17 October).

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

Lubor Gaal, CFO
Phone: +34 683 34 3811
Email: lubor.gaal@circio.com

About Circio
Building circular RNA expression systems for enhanced gene and cell therapies

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
technology for next generation RNA, DNA and viral therapeutics. The
proprietary circVec platform is based on a modular genetic construct designed
for efficient biogenesis of multifunctional circRNA inside target cells. The
circVec platform has applications in multiple therapeutic settings, including
genetic medicine, cell therapy and chronic disease. It has demonstrated
75-fold increased RNA half-life and up to 40-fold enhanced protein expression
vs. conventional mRNA-based viral and non-viral vector systems, with the
potential to become a new gold-standard gene expression technology. The
circVec R&D activities are being conducted by the wholly owned subsidiary
Circio AB in Stockholm, Sweden.

In parallel, Circio is continuing to develop its legacy immuno-oncology
program, TG01, through cost-efficient external academic and industry
collaborations. TG01 targets RAS-mutated cancers and is being tested in two
clinical trials in Norway and the USA. TG01 is a therapeutic peptide vaccine
adjuvanted by STIMULON QS-21 licensed from Agenus Inc.

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