Lytix Biopharma AS: GRANT OF SHARE OPTIONS

18 Apr 2023 16:50 CEST

Oslo, 18. April 2023

The Annual General Meeting of Lytix Biopharma AS (the "Company") has resolved to
grant 360,000 share options in the Company ("Options") under the Company's long
term incentive program.

The following primary insiders of Lytix Biopharma AS have been granted and
allocated Options:

- Marie Roskrow, Chairperson: 60,000 Options
- Marie-Louise Fjällskog, Board member: 60,000 Options
- Brynjar Forbergskog, Board member: 60,000 Options
- Kjetil Hestdal, Board member: 60,000 Options
- Jayson Rieger, Board member: 60,000 Options
- Evelina Vågesjö, Board member: 60,000 Options

The Options are granted without consideration and each Option will upon exercise
give the right to acquire one share in the Company. The exercise price of each
Option is NOK 7.30, which equals to the closing share price of the Company on
Euronext Growth Oslo, on the date of the Notice to Annual General Meeting, 11
April 2023.

The Options will vest gradually pursuant to specific vesting schedules:

- 90,000 Options will vest 12 months after the date of grant, while the
remaining 270,000 Options will vest with 1/36 on the last day of the 36
following months.

Vesting of Options is subject to the Option holder being qualified to be part of
the Company's long term incentive program at each vesting date.

All Options will expire and lapse if not exercised within five years from the
date of grant.

Please refer to the forms appended hereto for the disclosure of Option grants to
primary insiders of the Company.

For further information, please contact:
Gjest Breistein, CFO
Email: gjest.breistein@lytixbiopharma.com

Ole Peter Nordby, Head of Communication and Investor Relations
Email: ole.peter.nordby@lytixbiopharma.com

This announcement is made pursuant to section 5-12 of the Norwegian Securities
Trading Act and article 19 of the Market Abuse Regulation.

More information:
Access the news on Oslo Bors NewsWeb site

587883_Notification of Trade - BoD - BF.pdf
587883_Notification of Trade - BoD - MLF.pdf
587883_Notification of Trade - BoD - EV.pdf
587883_Notification of Trade - BoD - JR.pdf
587883_Notification of Trade - BoD - KH.pdf
587883_Notification of Trade - BoD - MR.pdf