Circio announces allocation of stock options to key employees

14 Feb 2026 09:57 CET

Oslo, Norway, 14 February 2026 -- Circio Holding ASA (OSE: CRNA), a
biotechnology company developing novel circular RNA expression technology for
gene and cell therapy, today announces that the Board of Directors has
resolved to grant stock options to all of its employees. The option program is
as an important long-term incentive to retain key personnel and critical
expertise in the company. The option grant follows the completion of a high
successful rights issue and parallel private placements, raising close to NOK
70 million in gross proceeds.

On 12 January 2026, the Extraordinary General Meeting granted the Board of
Circio Holding ASA an authorization to increase the Company's share capital by
up to NOK 8,617,544.50 by issuing stock options and restricted stock units
(RSUs) under the Company s long-term incentive program, representing up to a
maximum of 10% of the Company's outstanding share capital prior to the Rights
Issue.

On 13 February, the Board resolved to issue a total of 3,700,000 stock options
to members of the executive management and a total of 1,300,000 stock options
to employees. Following the option grant, the total outstanding option pool is
approx. 8,700,000 options, representing a maximum of 4% dilution to the
current share float, if exercised in full.

Each option, when exercised, will give the right to acquire one share in the
Company. The options are granted without consideration. Pursuant to the
vesting schedule, 25% of the options will vest 12 months after the day of
grant (as long as the option holder is still employed). Thereafter, 1/36 of
the remaining options will vest each month as long as the option holder is
still employed, with the first 1/36 vesting 13 months after the day of grant.
Options that have not been exercised will lapse 7 years after the date of
grant.

The exercise price of the granted options is NOK 1.18. The exercise price is
equal to the volume weighted average trading price of the shares of the
Company on the Oslo Stock Exchange on the date of the grant, 13 February 2026.

Primary insiders in Circio Holding ASA have received the following options
grants, according to the terms described above:

* Chief Executive Officer Erik Digman Wiklund has been granted 1,200,000 share
options. Following the grant, he holds 728,133 shares and 2,000,011 options
in the Company.

* Chief Financial Officer Lubor Gaal has been granted 750,000 share options.
Following the grant, he holds 486,900 shares and 1,373,329 options in the
Company.

* Chief Technology Officer Thomas Birkballe Hansen has been granted 750,000
share options. Following the grant, he holds 315,600 shares and 1,166,658
options in the Company.

* Chief Scientific Officer Victor Levitsky has been granted 500,000 share
options. Following the grant, he holds 371,433 shares and 821,502 options in
the Company.

* Chief Operating Officer Ola Melin has been granted 500,000 share options.
Following the grant, he holds 261,766 shares and 824,185 options in the
Company.

Please see the attached forms for further details about the stock option
allocation.

This information is subject to the disclosure requirements pursuant to article
19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian
Securities Trading Act.

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 novel circular RNA
expression technology for gene and cell therapy.

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.

More information:
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665891_Notification Of Option Grant Primary Insiders.pdf